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Getting Acquainted with Insurance Group Auto Insurance


Insurance group auto insurance is a concept that is now being widely recognized for its advantages and benefits. Before, the concept of getting multi-car insurance was not yet clear to a number of motorists. However, more and more car owners now enjoy a three-way win offered by insurance group auto insurance. The policy provider, the business organization, and the employee will all gain from group auto policies.

How does insurance group auto insurance really work? For starters, this policy is being offered to a big household, companies, and organizations that have around more than 2 or three car owners and drivers. The household leader, manager, or leader of an organization, serves as a middle man between the insurance provider and the drivers. For business groups, insurance group auto insurance can be made as part of an incentive program that gives benefits to employees as a way of thanking them for a job well done. All individuals who choose to join will pay a significantly lower amount as compared to the amount they will send if they are going to buy personal car insurance.  The differences in insurance costs come from the fact that group policy premiums are computed pro-rata among members who took advantage of the program.

The following are just few of the obvious advantages of getting a multi-vehicle policy:

•    No car owner is mandated to participate in this type of auto policy. A company or organization can only send invites, but can never force and oblige employees or members to participate. Multi-vehicle policy is purely optional. If one person decides to join and later changes his mind, it would be perfectly acceptable. Everyone has a right to back out.

•    A huge amount of money will be saved when it comes to the representation and overhead expenses. An insurance provider does not need to perform individual assessments. Instead, criteria and risk standing of the drivers will be evaluated per group. Because of the savings, companies have allowances to offer very low premiums and even promotions and discounts.

•    There is more flexibility when it comes to payment terms. Frequency and amount of regular payments may depend on the insured motorist’s capacity to pay. In addition, a number of payment schemes are available to choose from, which will surely help those on limited budgets. Insurance providers may even offer up to zero interest offers for those who are willing to sign up on automatic salary deduction.

•    For businesses, employees will see group policies as a form of reward from their employer. The money they can save will make them happier and more satisfied in the organization.