What to Avoid with Fleet Insurance
Fleet Insurance allows you to essentially cover multiple vehicles used within your business under 1 policy. When you purchase all your insurance from 1 provider, it allows greater discounts to be applied to your policy. When you need to insure a larger fleet, your motor fleet policy will always work out cheaper than multiple individual policies.
Fleet policies can be tailored to work around and suit your business regardless of its size. Fleet insurance can be applied to any business requiring to insure multiple vehicles and will reflect your operation. From HGV Haulage Fleets to Taxi Fleets, all can be covered.
There are a few elements you should look out for though.
Not any policy will be right
When looking at what type of motor fleet insurance you require, take a good look what your business operation is. If you ship heavy goods via a lorry, you will require hgv fleet insurance to cover the type of vehicle and type of goods carried. If you operate a fleet of couriers, then courier van insurance is required. By taking out the wrong insurance policy, you may risk not having your drivers insured in the event of an accident.
Naming All Drivers
If you only have a small fleet, then named driver policies may come out cheaper and will be easier to keep track of. However, they can be very restrictive and if you have a lot of driver changes or drivers changing vehicles, then a more open policy may be better to make sure you do have to continually update your fleet insurance broker. If you would like an ‘Any Driver’ policy though, it is likely every driver will need to be over 25.
Will a Non Vehicle Specific Policy be Correct?
Fleet policies can take to forms, vehicle specific or non vehicle specific. Vehicle specific polices can be cheap as every vehicle is listed, however, if you change vehicles a lot or use a lot of lease vehicles, it may be better to invest in a non vehicle specific policy where your drivers can be insured on any vehicle providing it is being used for the company. Speak with one of our advisors to properly understand the benefits of each policy type.
Avoid Claiming Where Possible
It is always tempting to claim and have the cost of smaller accidents paid for You need to weigh up though how much your renewal will be affected by the claim. A £1000 claim could add £2000 to your renewal depending on the circumstances. If you are able to financially handle the claim, we would always suggest that as a way forward as price increases on high claim fleet policies can be quite harsh. If you do need to claim though, your policy is there ready to handle that.