Top Tips For Lowering The Cost Of Your Family Fleet Insurance
Insuring multiple cars can get expensive, especially if you require luxury car insurance for one or more of your vehicles. If you need to insure multiple vehicles, you want to avoid the costs you incur from compounding with each vehicle, but there is a solution. Family fleet insurance means that you can insure multiple vehicles under one address and one policy to reduce the overall premium you pay. This form of specialist car insurance is ideal for people who love cars or just have several vehicles in the household. However, you want to make sure you get the best possible value for money, so we have put together some tips for reducing your premium whilst also maintaining good cover levels.
Check Who Is On Your Policy
This seems like an obvious thing to do when getting multi-vehicle insurance. However, you would be surprised how many people just add people onto their insurance. For a policy such as family fleet insurance, it is vital to make sure that everyone who is going to be driving one of the cars is noted and ideally has a clean license (but it’s not the end of the world if there are a few points here and there). Previous convictions could bring up the cost of your insurance significantly so it might be worth limiting that person to only driving one of the vehicles. Like with other policies, no claims discount will also apply in a similar way.
If you don’t need to insure younger drivers, your premium may benefit. Drivers over 25 may reduce the premiums on family fleet insurance because they have often had their license for longer. However, it is always worth looking at limiting the vehicles that your younger drivers are insured to drive as this can make your overall household spend on car insurance less than having to insure their vehicle separately.
Annual or Monthly Payments
Like other policies, family fleet car insurance is usually cheaper if you pay in one annual sum. This is because insurance companies will often add interest to monthly payments, meaning it costs more overall. However, some luxury car insurance providers offer 0% interest rate which means it won’t cost you any extra to pay your premium monthly, which is rarely ever seen on standard motor insurance policies. However, annual payments will also give you peace of mind for an entire year, giving you time to enjoy your vehicles.
Technology and Security
An easy way to reduce premiums is to make sure that your vehicles are adequately protected. Start by keeping them in a secure location overnight, so that it is harder to access your cars. We also recommend having alarm systems attached to all your cars. Some older, vintage vehicles, such as Aston Martins, may not have alarms, but it might be possible to get one installed.
A good way to secure a claim on a family fleet insurance policy is to have a dash cam. If you are in an accident that wasn’t your fault, it is easier to prove if there is video evidence. Stating you have one of these may also help your overall premium.
Use a Specialist Insurance Broker
Finding multi-vehicle insurance can be overwhelming and comparing the various offers available to you can be complex and time-consuming. So to make sure you get great advice on what’s available to you, you should speak to a specialist insurance broker. They have access to a huge variety of insurers and can find a bespoke policy, regardless of the car you drive.
If you are looking for family fleet insurance, get in contact with our Prestige Vehicle Insurance team. We specialise in covers for a range of luxury vehicles, from Ferrari insurance to Porsche Insurance. To get a prestige car insurance quote give us a call on 01202 754900 or email us at quote@alan-thomas.co.uk.