What happens if I use my truck for something other than business purposes?
Most truck fleet insurance policies will only provide cover for vehicles used for business purposes. However, some insurers may offer cover for vehicles used for both business and personal use. businesses should check with their insurer to see if there are any restrictions on the use of the vehicles covered by the policy.
What factors affect the cost of truck fleet insurance?
There are a number of factors that can affect the cost of truck fleet insurance. These include:
- The size of the fleet – The larger the fleet, the higher the premium is likely to be.
- The type of vehicles – Vehicles that are more expensive to repair or replace (e.g. luxury vehicles) will usually incur higher premiums.
- The business’ operating area – Businesses operating in high-risk areas (e.g. inner-city areas) are likely to pay higher premiums than those based in low-risk areas.
- The level of cover required – As mentioned above, comprehensive cover is typically more expensive than third-party only cover.
How can I get the best deal on truck fleet insurance?
There are a number of things you can do to get the best deal on truck fleet insurance. These include
- Shop around – Compare quotes from a number of different insurers to find the best deal.
- Choose the right level of cover – Only take out the cover you need. Don’t be tempted to over-insure just to get a lower premium.
- Pay annually – If you can, pay your premium in one lump sum. This is usually cheaper than spreading the payments out over the year.
- Increase your excess – The higher your excess, the lower your premium will be. But make sure you can afford to pay the excess if you need to make a claim.