According to a report by the Society of Motor Manufacturers and Traders (SMMT) on the 5th of January 2017, the previous 12 months saw a record number – 2.69m – of new car registrations in the UK.
Perhaps more surprising than that raw total of new registrations, however, is the fact that well over half of that number were fleet vehicles – fleet vehicles claim 57.4% of the market, says the SMMT, whilst registrations of private vehicles accounted for only 38% of the total (the remaining 4.6% of new registrations were described as “business”).
What might be some of the reasons behind these statistics?
Practically every business relies upon at least one vehicle in the course of its operations – a car, say, for getting out and about to meet customers and seal deals, vans and trucks to collect supplies and materials and to make deliveries.
It is little wonder, therefore, that the majority of businesses have more than just a single vehicle – they run a vehicle fleet, which might comprise cars, vans, trucks or heavy goods vehicles (HGVs).
Just as in many another market, you often qualify for discounts on the prices of products the more that you buy. This holds true for vehicle fleet insurance, with discounts on a vehicle by vehicle basis when compared with insuring each one separately.
Indeed, if you compare the prices of fleet insurance we offer here at Alan Blunden Insurance Brokers, you may be work out for yourself just what savings you might make by insuring all of your vehicles under a single policy. If you are running a fleet of three or more vehicles, our policies are very flexible and may be tailored to suit the precise needs of your particular business.
But there is a further benefit in fleet insurance – and a benefit that combines both convenience and further cost savings.
If each of your vehicles is separately insured, you have the inconvenience – not to mention the administrative time, effort and expense – of carefully monitoring each policy to ensure that you renew it on time each year. Even though the renewal dates are likely to be spread out throughout the year, you face legal penalties and the financial risks of having any of the vehicles uninsured.
Fleet insurance avoids any such possibility by keeping every vehicle insured under the same, single insurance policy – thus saving on the time and expense of trying to keep track of several at the same time.
Save money on your fleet insurance
In this way, fleet insurance brings immediate cost savings, both in the discounts you gain through buying cover for multiple vehicles at the same time, from the same insurer, and in the savings you are almost certain to make in the administrative cost involved in keeping your eye on different policies, with different insurers, and renewal dates spread throughout the year.
If you are looking to cut your operating costs, and want an easy and straight forward way of boosting your bottom line profits of your business, therefore, you might want to contact us – we will be more than happy to help!