Fleet Insurance For Business Vehicles

    October 6, 2018

    Most businesses have cars, vans or lorries which need to be insured. Because these vehicles are important to the running of your business, Fleet insurance as well as public liability insurance should also be important.

    Protect your company against claims for injury or accidental damage which can come about because of one of your driver’s negligence.

    To qualify for any kind of fleet insurance, the vehicles must be owned by the same person, and most insurers want you to have a certain number of vehicles so as to qualify for fleet insurance.

    Fleet Insurance – Reduce Operational Costs

    Fleet Insurance for Business VehiclesFleet Management simply allows companies who rely heavily on their vehicles for the transportation of goods to minimise the risks associated with investing in these vehicles and to improve efficiency and productivity.

    There are also other add-ons you might want to consider for your fleet such as ‘loss of use cover’ which will compensate you financially which one of your vehicles is being repaired.

    A fleet of vehicles can be worth millions of Rands and today insurance brokers have increased the flexibility of the policies so that they cover an assortment of vehicles and drivers on just one policy instead of many.

    Fleet Size and Distance influence Fleet Insurance Costs

    To get the best fleet insurance for your needs you need to look at the size of your fleet and the frequency of use of the different vehicles as these will influence your fleet insurance costs.

    Maybe you want to consider ‘any vehicle’ cover which offers maximum protection as well as ‘any driver’ coverage which allows all your vehicles to be driven by any of your drivers.

    Commercial vehicle insurance rates will determined by factors such as –

    • the value of your car, limo, taxi or truck
    • the driving records of drivers – certainly drivers with driving violations will cost your company higher premiums. Rather hire claims-free, violation-free drivers if you want to reduce your risks
    • consider the structure of your policy – buying policies separately means you will pay more as apposed to insuring your vehicles under one insurance policy. Do research because there are those insurance companies who also offer bulk discounts according to the size of your fleet
    • distances and driving location – the more miles your fleet travels, the higher your risk for being involved in an accident

    Update your Fleet Insurance

    It is important to keep fleet insurance up to date with the acquisition of new trucks and other vehicles. Drivers also need to be educated and skilled regarding drive fatigue, tyre and brake maintenance and unsafe following distances.

    Fleet management insurance products can contribute to  reduced fuel and maintenance costs, reduced premiums and bigger profit margins.

    Vehicle telematics is all about measuring driver behaviour in the fleet management industry. The application of vehicle telematics technology is essential as it addresses both financial and safety concerns with a fleet.

    The highly advanced technology offered by these telematics companies is an important component for effective road risk strategies for fleet managers. The advantages  are the ability to make informed decisions about the buying of vehicles and training drivers and far less time on paperwork.

    Lower Operational Costs

    Fleet insurance has many different benefits and it can provide as much coverage as needed. Pay monthly or quarterly, semi-annual or annual plans – the policy is still the same in terms of coverage. Whether your company’s fleet of vehicles is made up of cars, vans, trucks  or motorcycles, there are many companies offering comprehensive insurance policies. They will ensure that your fleet insurance needs are fully met. We’re in tough economic times and it is more important now than ever to lower operational costs by improving the management of your fleet.

    Use the form on this page to sign up for car insurance.
    Complete and submit the form so we can send you a quote.

    All info was correct at time of publishing