According to the Freight Transport Association’s (FTA) Logistics Report for 2016, a survey of business users revealed an expected 49% increase in road freight traffic during the year in question.
That growth is driven, of course, by the kind of strength in economic growth driven by the need for businesses to move supplies, finished products and employees from one place to another.
To participate in that market, businesses therefore need to keep vehicles on the road – and in most instances, several different types of vehicle to meet their business needs. In other words, a vehicle fleet.
One of the essential, inescapable costs of keeping those vehicles on the road is motor insurance – because it is legally required and because it safeguard’s the investment made by the business against loss or damage to the vehicles.
However many vehicles you need to maintain in this way, the cost of insurance is likely to prove a significant overhead.
That’s where Alan Blunden Fleet Insurance has good news for you – in the shape of motor fleet insurance that is likely to come in at a significantly reduced cost to your insuring each of your vehicles separately.
Fleet insurance – the benefits
When you are insuring your vehicles separately, each single policy naturally comes with its own renewal date – so renewal dates for the vehicle fleet as a whole are likely to be spread the whole year round. They need to be closely monitored, of course, so that every vehicle remains protected against loss or damage and meets the legal requirement for insurance.
The monitoring and the management of multiple different motor insurance policies is both time-consuming and a drain on your administrative resources – a drain which may be avoided by arranging a single motor fleet insurance policy, which has just the one renewal date to schedule into your office diary each year.
The more general benefit and money-saving opportunity, of course, lies in the fact that insurers welcome the opportunity to insure more than one item at a time. The more vehicles in your motor fleet, the more individual items covered by your insurer and the bigger the discounts on the unit price of insurance for each vehicle.
Management of your motor fleet insurance is made easier by your still having the option to choose the level of cover appropriate to the vehicles you operate – third party, third party, fire and theft, or comprehensive cover.
Just as with regular, single vehicle motor insurance, fleet insurance also becomes progressively cheaper each year, thanks to the no claims bonuses which are typically available – and which might even be transferred from any existing no claims bonus you have earned on one of the vehicles included in your motor fleet.
If you are looking for still cheaper motor fleet insurance, you might want to consider accepting a higher voluntary excess – in addition to any compulsory excess in return for a discount on the premiums payable.