Should You Insure Your Family Cars as a Fleet?

Should You Insure Your Family Cars as a Fleet?

If your family has multiple cars then you might not have considered that you can get them insured as together as a fleet. Most people think of fleet insurance as something that’s only for businesses but you can also get fleet cover for family cars.

There are some compelling reasons to get your family’s cars covered as a fleet. These include –

  • You can save money – The cost of living is seemingly rising all the time and because of this many families are looking for ways to save money and cut down on expenditures. The cost of car insurance is one expense that has risen rapidly over the last decade or so. This is due in no small part to the number of insurance scams that now exist. Getting a family fleet insurance could help cut down the amount your family spends on car insurance.
  • Makes insurance more affordable for your kids – Insurance is notoriously expensive for young drivers since they’re statistically more likely to be involved in an accident. By insuring your family’s cars together, you can help make insurance more affordable for your kids.

How much does family fleet insurance cost?

There are a few key factors that affect how much you’ll pay for family fleet insurance. Some of the main ones are –

  • The number of cars being insured – The number of cars you’re insuring will of course impact how much the policy costs.
  • The value of the cars – The total value of the cars being covered is another key thing that affects the cost of family fleet insurance.
  • Where they are parked – Security is always a big factor that impacts on car insurance and this holds true for fleet insurance. If your cars are securely parked in a garage then you’ll pay considerably less than if they’re in a driveway or on the street.

Ways to save money

Image result for piggy bank

  • Limit cover options – One of the most reliable ways you can save money on family fleet insurance is by getting a third party policy rather than fully comprehensive. Of course this is somewhat risky since it doesn’t really provide any protection for your own vehicles.
  • Get multiple quotes – Getting quotes from multiple insurance providers is now very easy to do and is one of the best ways to save money on family fleet insurance.