Corporate Group or Commercial Motor Insurance
Motor Group Insurance for commercial use is designed for companies with a large fleet of vehicles (typically starting from 5–10 vehicles or more), whether they are executive sedans, delivery pickups, or heavy-duty trucks. The key highlight is the “Fleet Policy,” which covers the entire fleet under a single policy. This makes management much easier and is significantly more cost-effective than purchasing individual policies for each vehicle.1. Suitable Types of Coverage
For commercial purposes, I recommend considering coverage based on the nature of use as follows:- Type 1 Insurance: Ideal for new vehicles or those that need to be on the road constantly. it offers the most comprehensive protection, including coverage for “Own Damage” from accidents where no other party is involved.
- Type 3 or 3+ Insurance: Suitable for older vehicles or those used in restricted areas. These plans focus primarily on Third-Party Liability to protect the company from massive financial losses in the event of a collision with others.
- Accessory Coverage: Such as dry boxes, refrigeration units, or steel racks (the value of these must be declared to ensure they are covered).
- Carrier’s Liability: Protects against damage to customers’ goods during transport resulting from an accident.
2. Benefits of “Group Motor Insurance”
- Fleet Discount: The more vehicles you have, the higher the discount (typically 10–40% off standard rates).
- Unified Expiry Date: You can synchronize the expiration dates for every vehicle in the company to the same day, making it easy to manage payments and renewals all at once.
- Flexible Conditions: Some insurers offer an “Unnamed Driver” policy, allowing employees to switch between company vehicles without any issues during a claim.
- Roadside Assistance: For logistics vehicles, 24-hour towing or emergency repair services are essential to ensure your business operations remain uninterrupted.