When it comes to arranging car fleet insurance, it’s all about recognising that the requirements are never exactly the same.
So, car fleet insurance must be flexible enough to cover all needs. Let’s look at two situations and see what different requirements can come into play.
Firstly, a top London advertising agency that has about 50 cars on its books and a northern printing company which has about 20 cars in its fleet.
The London advertising provides company cars to its high flying executives, both in the client handling department and the creative department. And as these are ‘perk’ cars, it is likely they will be high value examples which require specialist cover under one policy. Take the example of a new Porsche sports car which will retail anywhere in the region of £70,000 to £100,000 and be regarded as a top insurance risk.
The car fleet insurance policy needs to properly cover the unique requirements of these cars and also cover the drivers. Expensive cars bring with them a number of difficult problems and the insurers will want to be assured that all the bases are covered. There might be issues with how much mileage the cars will cover, or whether the drivers are of an age (either very young, or too ‘old’) that means they will require special clauses.
Okay, so that’s some of the problems that face a company of that type and they will have to work closely with their professional insurance advisors to get the proper level of cover.
Now, let’s take the example of a northern print firm which runs a fleet of company of cars mainly for its sales force. Here the issues are different from the advertising agency in many respects. These will not be seen as ‘perk’ cars, but cars that are provided by the company so that the sales force can visit clients and conduct their business. In this way, the cars are needed in practical terms and are not purely part of the remuneration package.
These sort of cars will generally run over higher mileages and be in use most days of the day. Salesmen and saleswomen will be on the run visiting clients during the week, then using the cars for shopping and trips out over the weekends.
So for cars such as these, the car fleet insurance policy has to cater for a great deal of commercial/business driving, as well as private use driving, which underlines the mix of needs and requirements that good policies have to cover.
And because the choices are varied, and the permutations wide, professional intermediaries are usually employed to provide the best level of cover at the best prices. It’s all about being flexible.
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