Frequently Asked Questions on Fleet Insurance ( FAQ's )

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, lorries, vans and SUVs. In addition you can include construction and agricultural vehicles like tippers, forklifts, livestock transporter, trailers and  JCB's. For  a more comprehesive answer on what is fleet insurance click here.

Is fleet insurance available for taxis?

Public and private hire taxis can be covered by a fleet insurance policy. With no restriction on taxi vehicle category which means that you are not restricted to just for example  minibus taxis, but can include for instance black cabs and minicabs. This flexibility makes fleet cover a popular choice with the provide and public hire sector. 

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 they think this will have no impact on their future personal no claims 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 questions for the smaller business or growing business no one answer does exists . 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.

  • Increase the excess level which is the amount that you are responsible before before the insurance policy kicks in. If you go this route make sure you have reserved the amount of excess amount that you will be responsible for. 
  • Reduce the number of claims, this can be achieved by provided regular training to the driving crew and following regular vehicle safety checks. Some companies reward good driving by providing an annual bonus as a stimulus to ensure drivers are very careful at all times.
  • Vehicle security., providing safe and secure parking, adding insurance approved GPS vehicle locating devices and immobilisers, use a black box  or digital dash cam are a few of the easy options to implement and thus save on your annual premium costs.
  • Compare a minimum of 3 insurance brokers you can use a comparative web site like Compare Fleet Insurance who will do just that saving you valuable time.

Is auto insurance a legal requirement in the UK?

It is not legally or socially acceptable to driver with at very least third party insurance. Failure 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 fleet cover you may take out a policy to provide cover to the cars within your family, referred to as family fleet insurance.

What determines the cost of my policy

The insurance cost is based on a number of factors, below we have identified the key factors

  • The number of vehicles in the fleet
  • The cost of your fleet vehicles
  • Your fleet claims experience
  • Safety and security measures 
  • The number of named drivers

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.

Do you offer cover for a mix of for example vans and cars?

Multiple van insurance can like any fleet insurance include any vehicle type include cars and motorbikes.

Selecting a valuation schedule 

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.