| By :
Jackie De Burca
Getting the right fleet insurance for your leased vehicles can be daunting. Almost everyone seems to be offering fleet insurance nowadays. What most people don't realize is that saving on your vehicles starts with the vehicles themselves. There are many companies offering different packages of fleet insurance. In this article I will give you some tips to make sure you don't spend too much money to get your vehicles insured, whether they are bought or leased. First of all, let's look at your vehicle fleet. You're not just buying or leasing one car here, so all costs of maintenance and insurance will multiply and therefore you must consider the following: 1. How many do you need? While it may be convenient and rewarding to have 6 shiny vehicles with your name on them, do you really need them all? Consider carefully what needs you have for your vehicle fleet, and only sign for the minimum number you can work with. 2. How much will you drive? Mileage limits are an important matter. For any mile you go over the limit stipulated in the contract, you could be paying up to 15 or 20 cents. If you drive more than 50.000 miles a year, it is usually more economic to purchase instead of lease. 3. Buying prices vs. lease prices. Lease vehicles go through quick rotation, so a dealer will often have a stock of vehicles that he wants to sell, even if at a low price. Discuss the possibilities with the fleet manager, get some numbers in writing and make an informed decision. 4. Beware of high down payments. Usually, leasing starts by paying the first month, a small deposit and license fees. Don't be tricked into paying more to get started. While the above information will help you avoid pitfalls when looking for a leasing provider, the best way to start is really by answering the questions below and discussing them with your lease manager. 1. How many vehicles do you need? Do you really need them all? These questions are about large yearly expenses, so make sure you know what you're doing. 2. What features do you need installed on each vehicle? Refrigeration, lifts, GPS? 3. What options do you need on the vehicles? Sure it's nice to have fancy features but aside from a radio and air conditioning, what do you really need? 4. What load volume will you typically need for your product? Carefully consider what each vehicle's use will be. 5. What is your best estimate as to the distance you'll travel in each vehicle per year? 6. Always ask to speak with the fleet manager when visiting dealerships. Floor salespeople will be very helpful, but a higher level employee is likely to be more knowledgeable, and he or she will also be able to let you in on special deals or programs. 7. While shopping for leasing providers, do also shop around for lenders. There are many different packages available, so doing a little homework can save you a lot of money. 8. Consider leasing all the vehicles you need from the same company. If you can sign for the entire fleet with one company, you can secure yourself important discounts, both in the lease package but also regarding the fleet insurance. Once you've answered the above questions, you're ready to start hunting for the best options for your vehicles and the fleet insurance that goes with it.
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