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If you run a business with two or more vehicles, making sure that they’re all insured is an essential task and a fleet insurance policy is ideal. You can’t risk a vehicle being out on the road without any cover and Fleet insurance is available for all types of businesses and vehicles!
To insure each vehicle on individual policies can be an administrative nightmare, but that’s where motor fleet insurance comes in to help out. With multi-vehicle cover, you can breathe easy as your whole enterprise of motors is fully covered.
With a few clicks, we can put you in touch with a wide array of fleet insurance providers who can offer a quote to cover your entire fleet of vehicles in one go. You’ll find:
- Fleet Insurance Quotes To Compare
- All Fleet Sizes Catered For (From 2 To 500+ Vehicles)
- Cars, Vans, Buses, Trucks & Specialist Types
- ‘Any Driver’ Fleet Cover Available
- Toxic, Explosive Or Inflammable Goods Covered
- Fleet Insurance For The UK & Europe
- Breakdown Assistance
A Guide To Motor Fleet Insurance
If you’re new to insuring fleets of vehicles, you might be asking yourself: what is fleet insurance? And how does it differ from other types of car insurance policies? Well, we can help breakdown the important elements that make up a motor fleet policy, and why it can be a crucial type of cover for your business.
Motor Fleet insurance premiums are calculated using previous years confirmed claims experience provided by the existing insurer.
What Is Fleet Insurance?
Insurance coverage for a fleet of vehicles is basically mass insurance. With fleet insurance, all of your vehicles used for your business are insured under one single policy. For a big company, with a large selection of vehicles on the road, fleet insurance is the easiest way to make sure all of them are consistently protected. Because instead of individual policies for every vehicle (with different renewal dates), fleet cover makes sure all of them are grouped together under one policy. And with only one renewal date!
It’s even useful for those smaller companies, who might have as little as two vehicles in their fleet. The convenience of fleet insurance makes their lives (and their paperwork!) just that little bit easier.
How Many Vehicles Are Covered Under A Motor Fleet Policy?
This will ultimately depend on each individual insurance provider. On a panel of insurers, the wide selection of coverage can see anything from 2 to 500+ vehicle limits. But each provider will have their own minimum and maximum limits, depending on what kind of businesses they want to insure. Make sure you check your fleet size limits before taking out a policy!
Who Is Insured To Drive With Motor Fleet Insurance?
For any company with a fleet of vehicles, you’ll likely have a fleet of drivers to drive them. And for your fleet cover, you’ll want to make sure all of them are covered for all the vehicles out on the road. Fleet insurance providers can offer you ‘any driver’ and ‘any vehicle’ policies; this means anyone in your business (who has a valid licence and your permission to drive) will be covered if they drive any vehicle that’s insured on your policy. Simple!
Some providers may include, or exclude, certain age brackets of drivers too. For example: drivers aged under 25 are sometimes omitted from certain fleet policies. But other providers will be happy to take on the extra risk of those with less experience – it’s always worth shopping around to find which provider suits your particular team of drivers.
You can get fleet insurance for all types of vehicles, including cars, vans and lorries. You can also get a policy that’s perfectly suited to your type of business.
Levels Of Cover For Motor Fleet Insurance
- Third Party Only (TPO) – The basic level of insurance cover that’s required by law. It only covers you for third party damage to property and liability for injury to others (which includes vehicle passengers).
- Third Party, Fire & Theft (TPFT) – A step up from TPO cover. TPFT covers all of the basics covered by TPO, but it also insures for fire and theft damage too.
- Comprehensive – Your fleet insurance will be insured for everything above, and more, with comprehensive cover. Your vehicles are covered for all collisions, even those that your drivers are liable for. On top of that, you can also be covered for damage to windscreens, accidental damage, medical costs, and personal effects.
- Liability Cover – Some providers will offer extra liability coverage for your fleet insurance. Employers liability insurance and public liability insurance are essential for any business owner, especially those that have a large number of vehicles and drivers. It’s worth noting that public liability insurance may also include legal fees.
- Breakdown Assistance – You can also find providers who can offer breakdown assistance cover with their fleet insurance quote. This is another useful addition when insuring groups of vehicles and enabling them to stay on the road!
- Cover For Driving In Europe – If you have vehicles that drive throughout Europe, you can’t afford to be without this level of cover.
Money Saving Tips For Your Fleet Insurance
- Experienced Drivers – Although you can find providers who will insure drivers aged under 25, it will likely mean you’re paying more premium to do so. Older drivers, who have a clean licence, could reduce the cost of your fleet insurance premiums.
- Be Strong On Security – This is your business, so you should want to protect it as much as possible. But if that isn’t incentive enough, you’ll also save money on your premiums as insurance providers could offer discounts for highly secure premises and vehicles.
- Install Dash Cams – You’ll find some providers that will offer cheaper premiums if you have dashboard cameras in your vehicles.
- Increased Excess – Your insurance premium might be discounted if you choose to pay a voluntary excess. Try it when taking out a quote and see what it can save you.
- Shop Around At Renewal – Auto-renewing a policy is easy, but there is always the potential that you’re missing out on cheaper prices in the market. Have a look at quotes elsewhere before your policy runs out each year.
- Invest in green vehicles – Many people still aren’t sold on the idea of electric vehicles but if you don’t want to go full electric then you also have the option to get hybrid vehicles. Doing this can help you save money with some insurers.
Getting fleet insurance quotes online is one of the best ways to save money on fleet insurance.
Other Examples Of Fleet Insurance
Business fleet insurance is the most common type of cover for a group of vehicles, but there are other types as well. Here are a few examples:
- Haulage Fleet Insurance & Lorry Fleet Insurance – Specific fleet cover if you only want to cover larger vehicles on a policy.
- Taxi Fleet Insurance – Essential for taxi fleet operators who want blanket insurance for all their vehicles.
- Fleet insurance is mass cover for all vehicles in your business. It’s more convenient than taking out individual insurance policies.
- If you have more than two vehicles in your business, you could get a quote for fleet insurance.
- Fleet insurance polices can offer ‘any driver’ and ‘any vehicle’ policies (although there might be some exclusions).
- You can find a wide array of different levels of cover for fleet insurance.
- Experience and safety is always a good way to reduce your premiums, as well as being savvy by shopping around for prices.
- There are many different types of fleet insurance.
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Fleet Insurance FAQ
Do I need fleet insurance?
Fleet insurance is a special type of motor insurance policy that’s designed for people who have multiple vehicles that they need to insure. Common types of businesses that take out fleet insurance policies include trucking firms, taxi and bus companies.
What are the benefits of fleet insurance?
Fleet insurance comes with some key benefits over insurance vehicles on individual policies. In most cases, getting a fleet insurance policy enables you to save a considerable amount of money on your insurance. Not only this but it makes paperwork much easier to manage. People who run businesses that own a lot of vehicles are generally very busy so anything that helps cut down on admin is a huge bonus.
What types of fleet insurance are available?
When it comes to the level of cover you can get with a fleet policy, it’s much the same as regular car insurance. There’s Third Party, which will provide the minimum level of cover to enable the vehicles to be driven legally and is the cheapest type of cover available. Then there’s Third Party, Fire & Theft – As the name implies, this is the same as third party, except fire damage and theft are also covered. Lastly there’s Fully Comprehensive. This will cover you for everything that a Third Party, Fire & Theft policy would but also covers you for any accidents that you (or your employees) are liable for.
Is breakdown cover included with a fleet insurance policy?
Policies can certainly include breakdown cover as well as other types of additional cover, such as windscreen repair and public liability insurance. Fleet insurance policies are typically highly tailored so it’s a good idea to think about the type of cover that’s best for your particular needs.
How do I get the most competitive fleet insurance premium ?
There are few reliable ways to ensure you get a good deal on fleet insurance. First and most importantly, you should ensure that you get as many quotes as you can. If you simply take out a policy with the first insurance provider that you contact, then you cannot be sure if you’re getting a good deal. As well as getting quotes from multiple providers, you can also take other steps to reduce the cost of a fleet policy. One of the best ways to do this is by paying for the policy on a yearly, rather than monthly basis. This might not be affordable in every circumstance but it’s certainly an excellent way to make a significant saving. Something else you can do to reduce the cost of the policy is to ensure that any vehicles named in the policy are securely parked and fitted with alarms.
Can I add taxis to a fleet insurance policy?
Absolutely. Both private hire and public hire taxis can be covered by a taxi fleet insurance policy. Black cabs, minicabs and minibuses are all eligible for cover with fleet insurance, which is why many taxi firms choose to get this type of cover for their vehicles.
How many vehicles can be insured on a fleet policy?
As far as the upper number of vehicles that can be covered with a fleet policy, there’s usually no limit. It’s not unusual for some policies to cover 500+ vehicles. For the minimum number, policies offered are usually for 3 or more vehicles, however there are specialist policies available for just 2 vehicles. Of course, the more vehicles named on a policy, the higher the cost will be.
Is there a restriction on the type of vehicles that can be insured on a fleet insurance policy?
Almost any type of vehicle can be insured with fleet insurance, including vans, cars, motorbikes, trucks and scooters. The only types of vehicles that might require a more specialized type of policy that not all providers offer are super cars and classic cars. This is because theses types of vehicles generally have a high value and can be very difficult to find original parts for, particularly in the case of classic cars.
Can different types of vehicles be insured on one fleet insurance policy?
It’s usually not an issue to insure different types of vehicles under the same policy. For example, if you own a taxi firm that has minicabs and minibuses then you’re able to insure both types of vehicles under the same policy, making things that much more convenient.
What factors affect the cost of a fleet insurance policy?
There are several key factors that affect how much you’ll pay for a fleet insurance policy. Some of the main ones include –
– The number of vehicles being insured
– The type of vehicles
– The value of the vehicles
– How secure your vehicles are
– The number of named drivers
– The driving history and claims experience
– Where the vehicles are stored
– How the vehicles are used
Are there any special steps I have to take when I have a fleet insurance policy?
The most important thing to be aware of when you have a fleet policy is that you must ensure that the Motor Insurance Database (MID) has up-to-date information about the vehicles in your fleet. Many businesses are often selling and acquiring cars all the time, so as the business owner it’s your responsibility to make sure that the MID has the right information. Failure to do this could lead to your vehicles being impounded and dealing with insurance claims that you have nothing to do with.
Is driving other vehicles covered under a fleet policy?
You can only drive vehicles that are specified under the policy. Fleet insurance does not extend to driving cars not listed under your policy.