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What should I know about fleet insurance in UK?

Several businesses own multiple types of vehicles that are essential for their business. It can be challenging and expensive to manage this “fleet of vehicles”, and one of the main costs is the cost of motor fleet insurance in UK.

What is fleet insurance?

Fleet insurance allows you to buy bulk in your vehicle insurance from a single provider and can result in significant savings. It can offer cover on fleet basis starting from a minimum of 3 vehicles.However, you will gain substantial benefits from potentially lower premiums and significantly less administration which makes the process smoother and much more manageable

Fleet insurance services are designed to be efficient and easier to handle than having many different policies for all vehicles from various insurance providers. Insurance providers can accommodate fleet insurance by increasing the flexibility of the policy to cover many types of vehicles and drivers under one policy. This means that there will be just one common renewal date to remember and one payment to submit.

Assess your own fleet insurance needs

The type of insurance policy depends on the size of your fleet and how much you use your vehicles. Each of the following factors will impact your insurance costs, so understanding them will be helpful in choosing the right one.

Fleet vehicle usage

The use classifications on a fleet insurance policy depends on the type of business you have. For example, you may require cover to carry your own goods or other peoples goods (Hire and Reward), Its essential that you have the right cover on your Fleet Insurance to ensure the correct level of cover is in place and all risks and exposures to the business are covered.

Opt for ‘any driver’ or approved named drivers policy

Most Fleet Insurance policies would provide cover on an any driver basis usually with an age restrictions and would be the most flexible options for Fleet Insurance in the UK.

Some insurers will sometimes offer driving on a named and approved driver basis which can sometimes offer further savings on Fleet insurance Premiums

Invest in public liability insurance

This insurance will keep you protected in case a claim is made for injury or damage as a result of your driver’s negligence. This policy is valuable protection for your business.

Fleet insurance in UK is ideally suited for growing businesses where amendments and alterations can be made throughout the lifetime of the policy, with one common renewal date.

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