In a world of rising inflation and shrinking profits, it is more critical than ever that small and big businesses find the tools and means to reduce costs and boost efficiency. Fleet insurance is one such tool that can make some areas of your business much more efficient to oversee while cutting down costs significantly. Fleet insurance can be purchased if you use more than one vehicle for your business. Fleet insurance can be used by a business in any sector as long as they own or lease at least two vehicles.
Here’s a closer look at four key benefits of fleet insurance for your business.
Fleet insurance can save money for your business from the get-go by making available quantity-based discounts on your vehicles – it is cheaper than insuring each individual vehicle separately. Thus, the greater the number of vehicles operated under your business, the more the discount on your insurance costs.
More Efficient Admin
Keeping all your vehicles under a single policy is also a good way of simplifying some of your admin tasks. In case of big or small accidents, it’ll be easier for you to contact your insurance provider for help. Similarly, renewals and changes are also far easier when it’s all under one policy. A uniform fleet policy thus involves lesser documentation, lesser follow-up, and much more efficient admin.
In the scenario of an accident, time can be of the essence. To help your employees and the business with replacement vehicle expenses and other costs, you’ll need your insurance to come through quickly and smoothly without a ton of hassle. Easier access to funds can translate into greater safety and security for your employees and you in the event of an unfortunate accident. A fleet insurance policy can thus help your employees, business, and you when you need it most.
Better Protection from Driver Turnover
A business can sometimes go through periods of high employee turnover. In such a scenario, having fleet insurance is even handier since you don’t have to keep trying to work out the policy for every driver leaving or any new driver joining the team. As long as you recruit drivers that meet the conditions of your insurance policy (such as a prior driving track record), you’ll be able to extend the policy to them without having to keep changing your insurance policy. Fleet insurance can make it much less expensive to operate your business vehicles while reducing the admin hassle. Fleet insurance is thus an important part of the risk and future-proofing your vehicles and your business.
Looking to make a switch to Fleet Insurance in your business? Get a quote today.