Many businesses own and operate a number of cars, vans or HGVs as part of their day to day trading. The management and upkeep of these essential vehicles can be costly, particularly if something goes wrong. This is where a motor fleet insurance policy proves its worth.
What is motor fleet insurance?
Motor fleet Insurance is for large and small fleets and you can insure from three vehicles upwards on just one motor fleet insurance policy.
A motor fleet insurance policy is more efficient – and much easier to manage – than a separate policy for each vehicle. The policy provides cover for:
- Several vehicles
- More than one driver per vehicle
- A named driver basis
- An any driver basis
You also only have to remember one renewal date.
Motor fleet insurance essentially means you bulk buy your insurance from just one provider, allowing you to take advantage of a discount when buying a large amount at a lower price.
What types of motor fleet insurance are there?
You can insure almost any type of vehicle under a motor fleet insurance policy. However, if you want to insure any classic cars or super cars, you may require a specialist type of policy. This is due to the fact that these cars are often more expensive and spare parts can be rare and costly to acquire, so an agreed value policy may be more appropriate.
There are three main types of motor fleet insurance policy:
- Third party only – this is the minimum legal level of cover
- Third party, fire and theft – also covers you for fire and theft
- Fully comprehensive – includes accidental damage
There are also other types of vehicle that require specialist motor fleet policies:
- If you run a taxi fleet you will need private or public hire insurance
- Haulage insurance is designed for those offering long distance hire
- Courier van insurance covers local multi-drop delivery and pick-up services