Family Fleet Insurance
Posted on 18. Oct, 2011 by admin in Personal Finance
Generally, when you are the head of a household containing children, you probably have at least three different vehicles (especially as the children age and are able to drive). Instead of insuring each vehicle individually, it is possible to obtain an insurance policy known as a family fleet insurance policy. It is also called a multi-vehicle insurance policy. If you are considering this option there is a bit of information you need to take into consideration before opting for this policy.
To start off, you need to know exactly how much you want the policy to cover. Depending on the policy provider, you either just pay a lump sum, or each car is valued, then you are given a total estimate. It is usually a better practice to select a policy that values each car individually. You do not want to overpay the insurance if each car is valued differently.
You also want to shop around for different insurance providers. As with a standard, single car policy, the family fleet insurance options do vary in price, and you want to make sure you are receiving not only the best insurance available for your money, but the best service. Saving a little bit of money is not worth it if the company is not around when you need to claim on the policy.
