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Is Fleet Insurance right for your business?


If you operate vehicles within your business and find that maintaining a fleet increases your costs substantially then it would be worth looking at Fleet Insurance to reduce your current outgoings. We understand just how important your vehicles are to your business, whether it is simply a case of travelling from A to B or if it’s the only way to get your goods on the road, you need an insurance policy that delivers exactly what you need at the right price. 

To help you understand this specialist type of insurance cover, including the vehicles it covers and how you can lower your premiums then take a look at our questions and answers below.

What is Fleet Insurance?

Fleet Insurance is a kind of business vehicle insurance that is used by companies and business owners who operate a fleet of vehicles.

 

What are the benefits?

Fleet Insurance will reduce your administration costs, give you one renewal date and one insurer which will save you money. It usually costs less per vehicle in a Fleet Insurance policy than it would to insure each vehicle separately. A Motor Fleet Insurance policy allows you to insure different types of vehicles under one policy.

 

How many vehicles can be insured?

Contrary to popular belief, Fleet Insurance isn’t just available to businesses with huge numbers of cars. Fleet Insurance policies can be taken out for 2 or more vehicles

Typically, there is no limit on how many vehicles you can insure with Fleet Insurance. Some policies can cover up to 500 cars.

 

Am I entitled to Fleet Insurance if I personally own more than 3 vehicles for business use?

Fleet Insurance policies cover vehicles that are registered in the name of a company, or a partner or director in a company. If you have your own business and use your vehicles for business purposes, you are entitled to insure them all under a Fleet Insurance policy. If they are just for domestic or social use, you will not be able to do so.

 

What types of Fleet Insurance are there?

Many of our insurers offer tailored Fleet Insurance policies based on a customer’s trade, so if you have a need to repair a vehicle very quickly following an accident, we can advise on a policy that has an approved network of repairers, getting you back on the road quicker following an accident. As with other kinds of vehicle insurance, you can choose between three different levels of fleet cover; third party only, third party, fire and theft and comprehensive cover.

 

What will Fleet Insurance cover me to use my vehicles for?

You can get Fleet Insurance cover for a variety of business uses, including:

·         Haulage

·         Public and private hire

·         Couriers

·         Other business transportation purposes.

 

What vehicles can I get cover for on a Fleet Insurance policy?

Whether you operate several company cars, a taxi business, a fleet of delivery vans, HGVs or a mixture of different kinds of vehicle, a fleet policy has the flexibility to cover as many vehicles and vehicle types as your business operates. Policies can include a number of ‘special type’ vehicles which are fleet vehicles that are not primarily used on the road (although road use can be included) such as bulldozers, diggers, excavators, mixers, loaders, dumpers and cherry pickers.

 

How much does Fleet Insurance cost and how can I lower my premiums?

When insurance providers calculate the cost of your policy, they look at certain key factors such as type, age and value of the vehicles being insured, named drivers, the use of the vehicles, value of contents and the level of cover. By demonstrating effective fleet management, you could help to reduce your premium. Just some examples of effective fleet management include driver profiling, telematics, and the installation of cameras in vehicles.

 

Is any additional cover included under my Fleet Insurance policy?

Some types of Fleet Insurance policies will include breakdown cover, as well as other types of additional cover such as public liability insurance and legal expenses cover.

 

Here at Exe Insurance our knowledge and expertise means that we have been able to forge established and trusting relationships with insurers. We pride ourselves on making thorough fact finds at the quotation and renewal stage, so we can fully understand every customer’s needs.

If you would like to talk to us about your Fleet Insurance requirements or have any more questions that you would like answered, please feel free to call us on 01392 797733 or email us sales@exe-insurance.co.uk

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