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Motor Fleet Insurance Explained

One of the things that a business commonly overlooks is the importance of a fleet insurance to its solid foundation. Every owner needs this coverage for their vehicles to keep things running smoothly and always have a policy to back them up. Anticipation and preparation for a business is very rewarding and a lot of insurers will be able to provide the correct kind of policy for any individual looking for a fleet insurance to add to their companies’ numerous vehicles. 

In the UK, a lot of accidents in the road involve vehicles of various companies. In addition to that, most companies which have commercial cars, vans or taxis are most commonly required or recommended to hold a policy that insures all of these. This is also to avoid any liabilities in certain situations which will be decided by the insurers. 

A fleet insurance is only a single policy but covers equal to or more than three vehicles at a time for a client business. These have the advantage of being able to get uniform coverage or customizing according to the owners needs or wants. No matter what type, built, brand or model a vehicle is, as long as it comes from a single owner, it will be covered by the insurance. 

However, for first time or newly opened businesses, the owners may have a hard time in investing on these as far as expenses are concerned. The expertise of brokers may be used but may further the aimed cost. If cheap is the key aspect of fleet insurances, then here are the following factors that may either raise or lower monthly premiums and will decide the affordable quality of it. 

UK owners of commercial establishment may choose insurances according to the type of vehicle if they prefer as there are policies that cater specifically to a make of a vehicle. Good examples of these are van, taxi or caravan commercial fleet insurance. 

Insurers will have varying terms and conditions for their offered policies. This can range from their 

• Maximum covered vehicles
• Flexibility in terms of tailoring specifically to compliment client’s needs 
• Agreed value. 

Nevertheless, these are all crucial and should be looked upon. For obvious reasons, one would desire to have a very flexible insurance provider to customize the policies. The limit of vehicles that will be covered would most likely depend on the owner’s number of cars and not necessarily mean that the more there are, the better it will be so as to maximize the premiums. Agreed value pertains to which vehicles with certain types or specific characteristics will be covered. Despite these factors, any fleet insurance from any insurer will still remain essentially the same. Most will cover only $50,000 to as much as $20 million dollars on average for any damage by the company’s property. 

A tip with these insurances is the submission of driver lists despite it being as a feature to ensure the liability of the company itself. In some institutions, this will increase the points of the applicants and decrease monthly premiums. Just ensure that the drivers have a clean record to back them up. Next, follow up on the condition of the vehicles. Equip them with alarm and tracking systems. In general, this will be beneficial to any type of insurance and will surely lower the price to pay. Fleet insurances may have discounts but may vary according to the provider. It is best to ask away regarding this though you may expect that having drivers attend courses will give the much credit desired. 

Instead of a broker, the free quote services may be used that are conveniently located online to provide search and comparison services. In order to avoid any liabilities or penalties in law or simply avoid risking the lives of employees, find the commercial fleet insurance to fit your business now.