Motor Fleet Insurance
If your business has multiple vehicles and named drivers, then a motor fleet insurance policy is the best route for you to go down. Whether that is 2 cars or 200+, we will help find a policy which is tailored to your every need, offering you all the cover you require from a selection of established and esteemed expert insurance providers.
The chances are that your fleet will be made up of a variety of different vehicles such:
- Courier vehicles
- Goods in Transit
Some businesses that typically use a fleet of vehicles include:
- Minicab Company
- Vehicle recovery
- Security Company
Having your vehicles insured on one policy will save time and money. Trying to arrange separate policies for every vehicle in your fleet is incredibly time consuming and complicated, and will almost certainly end up costing you more than a single motor fleet insurance policy. For example, imagine having to remember all the different policy renewal dates and which insurer covers which vehicle? It would be an administrative nightmare.
We can put you in contact with the UKs leading motor fleet insurance providers, and with the easy online form you can apply for your policy in minutes. We understand that insuring your fleet can be a costly process, and many providers will have a flexible payment plan available to suit your business needs. Some also offer interest free monthly payments so that the cost of your policy won’t impact on your business.
By law, the minimum UK requirement for vehicle insurance is third party coverage. However, some insurers will not offer this for a fleet; instead fully comprehensive insurance is their standard level of fleet coverages. If they do offer third party only, it will be for specialist vehicles, such as construction or plant. Although you may save money in the moment by only opting for third party, you will also forfeit a significant amount of protection in the process. Policies are available covering drivers of any age or profile, and there are flexible policies which allow you to add and remove vehicles from your policy and when you need.
There are some features which are often excluded from motor fleet policies, including:
- Theft of a vehicle left unattended
- Theft by deception
- Mechanical breakdown
- Tyre replacements
- No claims discount
For large fleets, maintaining a zero claims record is highly unlikely, especially when you factor in all the different drivers and the different vehicles. Instead, insurers may offer an alternative system called ‘claims cost’, where they will tally up the cost of your claims over a fixed period of time (e.g. one year). The lower your claims are, the greater the discount that will be applied to your premium.
Although there are some exclusions listed above, there is also an impressive variety of extras you can add on to your motor fleet insurance policy. Some popular examples include:
- Haulage insurance – designed for companies that operate long distance transport and delivery services.
- Courier insurance – for vehicles working in a smaller area performing multiple deliveries
- Carriage of own goods – if the vehicle(s) contain goods or equipment such as tools which are needed by the employee to carry out their job, this cover may be needed. This would apply to tradesmen like electricians and plumbers
- Public and employers liability insurance – this will protect your business from any claims made by an employee or member of public for any injury they may sustain or any damage to their property. It is an important feature and one that could end up saving your .
- Personal effects insurance – to cover the driver’s personal property
- Legal expenses insurance – in case a third party launches a compensation claim against your business. Legal bills can be incredibly expensive and could have a huge impact on your business, so this is a sensible feature to add on.
- Replacement of locks insurance – Running a large fleet of vehicle with multiple drivers will increase the likelihood of keys being lost, stolen or damaged, and replacing locks on vehicles is not cheap to do.
- Trailer insurance – plant machinery and other heavy machinery is usually transported on a separate trailer. If this is true of your business, ensure your policy covers this.
Reducing Your Premium
There are steps that can be taken to help reduce the price of your premium, the age of your drivers being a good place to start. Insuring younger drivers is more expensive, so if you are able to keep your fleet drivers age 30 and above this will have a significant positive impact on your policy price. Some businesses also issue a company driver handbook or enrol their employees on an advanced driving course to help keep prices down.
Fleet size and frequency of use is another factor used to determine your premium; the lower these numbers the lower the price will be. For some smaller fleets, it could even work out cheaper insuring the vehicles individually, for example if each vehicle has its own no claims bonus. These variables need to be clarified before you pick your insurer so you are only paying for the cover you actually need.
Other important points of comparison to be considered include:
- Inclusions and exclusions
- Excess amount
- Driver age requirements
- Policy flexibility
For a quick quote just fill in a simple form here.