Fleet insurance, if you hold your own business or simply enjoy more than a few different vehicles at one time, motor fleet insurance is certainly a type of insurance you should consider. Motor fleet insurance policies generally cover four or more vehicles under one policy. Motor fleet insurance policy basically stands for the effectively buying of your insurance from a single supplier in bulk amount.
Therefore, in turn, you are rewarded with a certain amount of discount on the premium. Motor fleet insurance covers both small and large fleets of commercial vehicles. You can insure from three vehicles
upwards on one motor fleet insurance policy. Your business fleet can have the value of anything from millions to a few thousand pounds and you can still be benefitted from reduced premiums and hours of administration making the entire process much more convenient.
Motor fleet insurance policies are mainly designed to be supplementary competent and easier to manage than several dissimilar insurance policies for individual vehicles. Luckily specialist insurance brokers boundary the load of a motor fleet insurance by raising the flexibility of the policy to cover a number of vehicles and drivers on one policy, giving you relief by providing you with just one renewal date and payment date to manage.
A Few Things to Consider Regarding Motor Fleet Insurance Policy in India
There are a number of factors that must be paid special attention to in terms of purchasing motor fleet insurance online in India.
•The need of motor fleet insurance in India varies from one company to another but there are some important factors that all companies must take into consideration when deciding motor fleet insurance online. The main factor is to consider the number and what type of vehicle is to be insured. If you are purchasing motor fleet insurance online in India for a number of vehicles that are of different types then the premium will be different from the motor fleet insurance quote for 5 of the same type of vehicles.
• The premium on your motor fleet insurance online depends on the age of the vehicles and the condition that they are in. So make sure that the condition and age of your vehicles are suitable enough to get maximum coverage at a lower premium.
•Motor fleet insurance companies in India will still take into account the driver’s past history and experience in order to determine a final quote accordingly. However, the motor fleet insurance policy is way much cheaper than purchasing individual insurance for your vehicles.
What Doesn’t Come Under Motor Fleet Insurance Coverage?
There are a few factors that the motor fleet insurance online doesn’t cover. Find out the exclusions of motor fleet insurance policies below.
• Motor fleet insurance plans don’t cover wear and tear on your vehicles.
•Engine damage due to oil leakage is not covered under motor fleet insurance policies.
•The policy won’t cover any damage or loss to the vehicle if an organization operating multiple vehicles for internal operations
• If your vehicle is driven without a valid driving license.
•No claims will be paid under the motor fleet insurance online if your motor fleet insurance policy has expired or has not been renewed timely.
• If you are driving under influence of alcohol or drugs.
• Any other person driving the vehicle other than the person mentioned in the driver’s clause.
• Mechanical parts wastage or replacement cost like wipers, brakes, head lights, steering and tail lights etc.
• Electrical parts wastage like alternator, battery cables, sparking in ignition switch etc.
• Partial or full value of tires and tubes are reimbursed, in certain cases where the insured vehicle gets damaged.
• Any rejected claims which are not taken to the court within 12 months.
• If the commercial vehicle carrying any hazardous chemicals.
• Any damage to your vehicle which is outside the geographical area specified as per your insurance documents.
• If the commercial vehicle is being transported during air passage or sea voyage.
•Damage to vehicle under contractual liability of the owner. For instance, you have pledged your car against a loan or given it to third party on rent, are out of your motor fleet insurance policy coverage scope.
•Loss or damage due to natural calamities or war.
•If you violate your automobile manufacturer’s guidelines on use of vehicle.
What Are the Benefits of Motor Fleet Insurance Policy in India?
Motor fleet insurance coverage in India certainly has a plethora of benefits to offer.
•Motor fleet insurance policies help business obligations by providing comprehensive coverage against legal obligations. Therefore, motor fleet insurance plans reduce the risks associated with maintaining the fleet.
•Third party injury or death and damage caused to the property are covered under motor fleet insurance online.
• These insurance policies provide medical coverage since there are some motor fleet insurance policy schemes that cover medical expenses incurred due to any mishap.
• Motor fleet insurance plans provide coverage for the insured driver. Multiple motor fleet insurance policies also cover injuries to the driver as well.
• The policy comes with overnight vehicle insurance option. Many motor fleet insurance providers offer coverage for fleet overnight also given that some businesses might require their vehicles to transport goods within one night.
•Motor fleet insurance plans provide the benefits of covering all vehicles under a single policy.
• Damage or loss to vehicles due to accidents, fire, burglary, natural calamities, and other unexpected causes etc comes under motor fleet insurance coverage in India.
• One other best benefits of motor fleet insurance policy in India is that if an insurer cannot become insured under an individual policy, they can have coverage provided to them using a motor fleet insurance policy.
• Another best benefit of motor fleet insurance plan is that when a claim is made, the process is very much smoother and more efficient than when handled through another type of motor insurance policies.
Who Can Buy Motor Fleet Insurance?
When any business organization expands, they are likely to buy more vehicles and every vehicle is, in general, individually insured. Motor fleet insurance policy in India is an amazing way to insure multiple vehicles under a single plan and premium. It is managerially simple, easy and of course, cost effective. Any of the following can purchase motor fleet insurance policy in India:
• A transport organization; i.e. taxi services, commercial transporters, etc.
• An individual who owns more than one cars
• Any other business or individuals owning more than one vehicle for a single purpose.