| With so many types of vehicle insurance prevalent in | | | | Dealing through the broker has its pros and cons and |
| the market, it is necessary to understand the | | | | it is anyways advisable to know basics about the |
| applicability of each of them as well as relevance | | | | insurance you wish to take rather than leave |
| before taking the one best fitting your requirement. | | | | everything to the broker. |
| The task becomes all the more difficult when you | | | | Some of the points to be kept in view when going |
| have a fleet of commercial vehicles that need to be | | | | for commercial fleet insurance are: |
| covered under insurance and you become | | | | A large proportion of companies within the |
| apprehensive about how you are going to manage it. | | | | commercial insurance sector offer commercial fleet |
| Trying to manage it on your own by way of taking | | | | insurance. Whilst this does give wide scope for |
| insurance bonds will not serve your purpose as the | | | | shopping around, it does mean that the amount of |
| risk factor is high and the open nature of the claims | | | | information available can prove daunting. Whilst some |
| which can come up has the danger of putting you | | | | people choose to forge on ahead and buy their |
| out of business. Handling such claims is also not your | | | | insurance without any help, others choose to use |
| forte and you would rather spend time on your core | | | | insurance brokers to help them choose the best deal |
| business rather than get into the insurance sphere. | | | | for their money. |
| Therefore leave it to the professionals to handle this | | | | Some other points that will need to be kept in mind |
| aspect for you. | | | | when considering which commercial fleet insurance |
| So the simple solution is to go for a commercial fleet | | | | policy to take out are: |
| insurance policy as that will enable you to manage the | | | | 1. The age and experience of the driver is a key |
| costs as well as handle the associated stress of | | | | element as some companies would not provide |
| following procedures for so many vehicles in a better | | | | coverage if the drivers are beyond a certain age or |
| manner. | | | | are very inexperienced since this increases the risk |
| This type of insurance is a mandatory one for | | | | exposure for them. |
| companies managing a fleet of vehicles for their | | | | 2. Past performance of the driver in terms of |
| business needs and if you are one of those about to | | | | accidents or convictions need to be declared and the |
| take it for the first time, then you would be well | | | | insurance company would give some weightage to |
| advised to do your study on the subject, understand | | | | these facts in deciding the premium. |
| the terms and jargon to the best extent possible | | | | 3. The type of cover needed such as Third Party |
| before taking the insurance. | | | | only, Comprehensive which includes third party also |
| Many companies prefer to deal through an insurance | | | | and Fire and Theft cover would decide the premium |
| broker or agent since they find the process of | | | | of the policy and the insurance service provider |
| understanding the nuances of this insurance daunting. | | | | would look at qualifying criteria accordingly. |