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Calculating Your Fleet Car Insurance Options
Companies which provide vehicles for their employees as part on their salary package can make huge savings on insuring them by having them all covered under a single fleet car insurance policy.
There are many different fleet car insurance options widely available from insurance companies. The number of cars required to constitute a fleet varies between insurance companies. Some will give consideration for two or more cars while others have a minimum level or five or more.
A mixed fleet car insurance package enables cars with different engine sizes to be covered under one policy. This can offer generous savings if high performance cars are included.
The insurance companies will take a number of factors into consideration when calculating a fleet car insurance quote.
1. High performance cars are considered to be a greater risk due to the car's speed and performance capabilities, engine size, parts costs and repair costs. The more high performance cars included in the policy the higher the insurance premiums will be, particularly if driven by young drivers.
2. The age of the drivers will make a difference on the premium costs. Young drivers, typically those under 21 years, although the lower age limit does vary between insurance companies, are considered to be a higher risk than drivers over this age. It may be most cost effective to insure young drivers separately until they reach the lower age limit restrictions.
3. Driver's No claims discounts will also be taken into consideration. Drivers which have a proven no claims history can dramatically decrease the insurance premiums. The more drivers with no claims discount on the fleet the lower the insurance will become.
4. Many insurance companies will also transfer driver's no claims discount earned on non-fleet cars to a fleet car policy. The number of driver's with no driving convictions can also help to reduce the cost of the fleet car insurance.
5. Companies and businesses that are willing to introduce measures to reduce accidents will be looked on favourably by insurance companies. Having risk management programs and drivers taking Advanced Driver Training courses can help to reduce the amount of claims as well as lowering overall running costs of the fleet.
6. Under the Health and Safety Act 1974 employers are obliged to ensure the safety, as far as is reasonably practical, of all employees while at work. This includes driving which is necessary for the employee to carry out their job role.
Comprehensive fleet car insurance. Comprehensive can include many additional options such as window screen cover, emergency breakdown cover and much more. The options included on Comprehensive cover vary between insurance companies. Valuable high performance cars will probably benefit from having Comprehensive cover due to replacement costs.
GAP insurance may also be advisable for new cars with a high market value. Gap insurance will provide cover if a car is stolen or written off. It fills the 'gap' between the current market value at the time of the write off and the original purchase price. It will also cover for any outstanding finance. Gap insurance is only available for new cars or those brought or leased within 3 months (typically) on cars under 5 years old.
The specialist fleet insurance companies will provide advice and guidance as to which type of fleet car insurance will best suit the company's business needs.
Author Resource:-
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
fleet insurance
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