Why it pays to compare the market for fleet insurance is so you can find the right policy to protect your mini fleet. To do this requires one of two things. First you can take the time and search the hundreds of policies being offered or you can go to an insurance broker who will do it for you. If you are after multi car insurance it will be cheaper if the cars are green with low CO emissions.
Why is Price not Everything?
For many of those searching online for the lowest premium cost to protect their vehicle, health or home, they think the lowest price is best. This can be misleading once a peek inside the policy reveals the pitfalls.
Higher excess should be expected with low cost insurance. In reality this means that if an accident occurs, you will have to fork out more money than if you had paid a slightly higher premium. Compare the market for multi car insurance with reputable companies like compare fleet insurance or multi quotes. Both are validated UK insurance companies
With a low premium price, less will be covered by the insurance company and you will be responsible for the rest. This can include the following;
- Legal fees
- Settlement costs
- Repairs to a home
- Repairs to your vehicle
- Medical bills
- Replacement of personal items
Are there Pitfalls of No Deposit Insurance?
The name No Deposit Insurance is highly misleading. No insurance company will open a policy without some kind of deposit. This type of insurance policy will have a lower initial payment amount than other types of insurance policies, but it will still be present.
- The single advantage of No Deposit Insurance is the premiums costs will be spread out over 12 months.
- The pitfall is interest will be charged for spreading the cost out as compared to a lower cost if the premium is paid in full when the policy is taken out. On average the price increase is 10% to 25%.
Are there Disadvantages for using a Comparison Insurance Site?
All sites on the internet are there to make the owner money. They do this by offering a product, sell advertisement or service like a comparison insurance site.
On most sites what are highlighted or most prominent are not always the best items for the visitor. They are the items the owner of the website will make the most profit. The disadvantages of this type of website include;
- You have to research each offer to see just what it contains and not listen to the hype as it is presented.
- Know what you want in type of coverage.
- Know your budget.
Why use an Insurance Broker?
An insurance broker is working for you not the insurance companies. They generally charge a flat fee for their services. Because of that it is to their and your advantage that they find the type of insurance policy you need at a price you can afford. This way you will return to the same broker when renewal time comes around.
How and why it pays to compare the market for insurance is important so you can have the coverage you need at a price you can afford. The independent insurance broker will work for you, not the site or the insurance company to make this happen.