Do you have multiple vehicles on your property?
When you hear the phrase “a fleet of cars,” you probably think of a commercial venture. However, any home that has at least three cars is considered to have a fleet.
While that number might seem large, it’s not that strange to find households with multiple vehicles. If you have two children, for example, and one of them has reached driving age, you may have three cars. You likely drive one, your spouse has one, and you may get one for your child as well. You could also have a camper, an old fixer upper or even a motorcycle on the premises, too.
Before you know it, your driveway will be jam packed. How will you insure all of those cars? It is best not to have them on different policies, because doing so is very expensive. That is why you want to look for something called “fleet insurance” or multi-car insurance.
Taking Care Of The Family
Fleet insurance is really no different than regular insurance. However, you only need one policy for a number of different vehicles. You are also typically offered a discount as a result of putting several cars under your policy. This number could be as high as twenty percent, depending on which family fleet insurer you decide to go with.
Generally, you can insure up to five vehicles on your policy. You can have as few as two cars on the policy. The more vehicles you insure, the more money you will get off of your total bill.
Typically, you have to have all the vehicles registered to one address. The vehicles themselves can differ, however; they can be motorcycles, cars, SUVs, campers and more. You cannot have company or commercial cars on the policy, though.
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Coverage The Way You Want It
The insurance can be set up in a number of different ways. For example, you may want comprehensive insurance on your newer car but not on the old junk car. Speak to your insurer about your needs and the agent should be able to help you set up the policy the way you want it.
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Anyone that is named on the insurance policy is covered. Therefore, you can put everyone of driving age that lives in your home on the policy. You may even be able to cover one of your children that is away living at school. The people named on the policy do not have to be related to you by blood, but they may have to be a certain age. Check with the insurer to be certain.
There are a lot of benefits to going with a fleet insurance policy. Everything is set up under one account, for example. You save money by insuring multiple cars as well. However, keep in mind that the policy will still be expensive and all that money is due at the same time each year.
Amila Gamage Wickramarachchi is the founder of this blog which she shares her parenting and lifestyle experiences.She is a Contracts Engineer by profession and recently launched her own Engineering consultancy service Sihela Consultants.(www.sihelaconsultants.com)