Compare Fleet insurance
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Fleet insurance should be considered if you’re a small business, a larger enterprise or the head of a household with multiple cars.
Compare Fleet Insurance works in partnership with QuoteSearcher who provide a simple form which once completed is submitted to a specialist panel of brokers.
What is a Fleet Insurance Policy?
This is a policy which is aimed at a business with 2 or more vehicles. A fleet policy lets you cover multiple vehicles - from cars, taxis, vans, minibuses or trucks or indeed a mix of vehicle types under business use.
How much does fleet insurance cost?
The price is determined by a number of factors. Some of the more relevant include, the number of vehicles in the fleet, the fleet claims history and the driving history of employees.
Another important part of the underwriter calculation is based on your choice of driver policy. An any driver policy will give you the most flexibility, buy will normally come at a higher premium than named only drivers. Below are further bullet points on the most important factors that are used to determine your final premium
What is usage based fleet insurance?
Zego is a current example of a provider that offers user fleet usage policies. The idea is that you pay a base fixed rate and a variable amount on top that is based on usage. So if your fleet sits in the car park most of the day you will pay a lower premium that if your fleet is mostly out on the road. Pay-as-you-go fleet insurance is gaining popularity with fleet managers
What types of businesses are covered by Fleet Insurance?
Van fleet insurance
According to cardealermagazine.co.uk van sales have increases by 1/5th in February 2021. This has been spurred by delivery sector. Fleet insurance can cover all your vans under one easy to manage fleet van insurance policy. The fleet options should work out cheaper than insuring your vans individually.
Small fleet insurance
If you operate a small business fleet the panel can help you compare costs of small fleet insurance policies that are tailored to your requirements.
HGV/Truck fleet insurance
Taxi fleet insurance
Need to compare the cost of insuring your fleet of taxis? The panel can help by providing taxi fleet insurance quotes tailored to your business requirements.
Levels of road risk cover available
Comprehensive
Also termed "fully comp" this is the highest level of cover available.
Third Party Fire & Theft
Third Party Only
Third party is the legal minimum with fire and theft being an added optional. This may be a cost saving approach for large commercial fleets that can make it cost-effective to partly self insure. This level of cover is less expensive, but that is reflected in the level of cover provided.
Typical exclusions in a fleet policy
Be aware that most policies will have conditions that will not be covered. These may include:
Reducing car fleet insurance costs
The cost of your policy will depend on a number of factors. One determining factor is your business postcode. Inner city post codes attract a higher premium as statistically the number of claims for theft and accidents are higher in these areas. For some of the factors that go towards determining the costs you can take steps to lower your risk. These include:
Remove unnecessary extras
Always check what is included in your policy. Remove any cover that your business does not need. At the same time you need to be careful that you don't omit cover that is required.
Pay annually rather than monthly instalments
In most cases it will be slightly cheaper to pay for your premium in one lump sum. Monthly options are available, but take note they normally work out more expensive.
Monitor your claims history
This is kept by your broker and is a record of all claims made by your company against your business fleet insurance policy. Request a copy from your broker and analyse for trends. Example a particular type of accident or multiple claims by one driver. This information can also be used to take positive action by providing your drivers with additional training.
Secure your fleet
Can you improve security by providing overnight secure parking? If not secure parking can you add additional lighting to deter theft. Speak with your broker on other measures that they recommend to help reduce vehicle theft or damage by vandalism.
Restrict you fleet to named drivers
If able to restrict your policy to named drivers this will reduce your premium. Any driver fleet policy is great for flexibility, but does come with additional costs. Drivers are an important factor in determining your premium costs, if possible also consider the following:
Compare fleet policies
In order to make fair comparisons it is important to identify which core elements that you wish to be standard in your policy. Next look at any additional types of cover that you wish to have included, for example business breakdown cover. Taking this approach will help ensure that your quotes include only the items that you need. It should also make it easier for you to compare the offers that you receive. We have listed the key areas of comparison below:
Compare fleet insurance quotes
We understand that a standard policy may need to be altered to meet your specific needs. As such we allow you to tailor your policy to include only what you need and exclude items that are unnecessary. Compare-Fleet-Insurance works in partnership with QuoteSearcher who provide a simple form which once completed is submitted to a specialist panel of brokers. These brokers will be in contact via the telephone to provide you with quotes on your motor fleet cover.
FAQ Section
Below we have compiled a list of questions that are asked frequently. The question list is updated on a regular basis so that the content remains relevant.
What is fleet insurance?
Fleet cover enables you to cover all of your company’s vehicles liabilities under one policy. The fleet can include any vehicle category or a mix of different categories, for example motor cars, buses, HGV's vans and SUVs. In addition, you can include construction and agricultural vehicles like tippers, forklifts, livestock transporter, trailers and JCB's. For a more comprehensive answer on what is fleet insurance click here.
Is fleet insurance suitable for taxis?
Public and private hire taxis can be covered by a fleet insurance policy. You can also mix vehicle categories This flexibility makes fleet cover a popular choice with the private and public hire sector.
What is the average price of fleet insurance
A common question, but no easy answer. The cost will depend on many factors. A simple example, if your fleet is a fleet of Mercedes your risk and insurance quote would be more expensive than a fleet of Toyota’s. Why? Because the costs of repair or replacement is much more expensive. In order to find the average for your particular requirements get multiple quotes and start comparing
Will an accident under my company fleet insurance impact my no claims history?
Confusion exists around this important question. Research has shown that drivers are more likely to admit responsibly when driving a company vehicle as they think this will have no impact on their future personal driving history. However, according to the anti-motor fraud specialist Asset Protection Unit (APU) accepting responsibility will indeed have an impact on the future cost of your personal insurance policies.
How many vehicles are needed to apply for fleet insurance?
This is a regular question for a growing business, no one answer does exist. Some underwriters require at least 3 vehicles other require 5 and some as few as two. Regardless of the number, getting fleet cover will generally be more cost-effective that taking out separate policies for each vehicle.
How can fleet insurance be reduced?
Many ways exist to reduce your company annual policy costs. Below we have compiled a list of the top methods applicable to bringing down insurance premiums.
Is vehicle insurance a legal requirement in the UK?
Yes. It is not only a legal requirement it is also your social responsibility to drive with at the very least third party insurance. Driving without proper insurance will be rewarded with heavy fines, loss of licence and possible time behind bars.
Can I use fleet insurance to cover my family mini fleet?
Fleet insurance is not restricted to business fleets. If you are part of a household with 2 or more cars you can take out family fleet insurance.
Which business fleet cover is best?
The best business fleet cover is subjective to your requirements. We do not recommend, but advise you to compare the market and options that are available when first taking out fleet insurance and also when it comes renewal time. Why? Some companies will consider you locked in after signing up, and they will focus on providing better deals to new customers only!
What determines the cost of my policy?
The insurance cost is based on a number of factors, below we have identified the key factors
What levels of cover are available?
The standard 3 levels of cover ranging from basic third party to third party plus fire and theft and lastly fully comprehensive. An excess will normally apply and is negotiable, accepting a higher premium will most likely reduce your or your company annual premium.
How do I make a claim?
Making a claim is easy with a fleet policy. With one insurance provider having all the details of all your vehicles simply make contact with them and provide the individual details as per instructions. Please note the importance of contacting the insurance provider in a timely manner and following the guidelines as per your insurance policy.
Can I arrange "As and When" fleet cover?
This is reserved for large fleets that make regular changes to fleet. The idea is rather than informing the insurance company each time the fleet changes it is agreed in advance to only report on monthly, quarterly or even on an annual basis. This type of cover is termed "As and When". With this type of policy in place the fleet manager may add, change or remove vehicles during the selected time period. These changes need only be reported to the broker on the agreed reporting schedule.
Does having fleet insurance mean I can drive any other vehicle?
No, you can only drive vehicles that are specified on your policy. Having fleet insurance does not mean your cover can extend to driving cars not listed on the policy.