Fleet Insurance is a popular choice for any business with two or more vehicles that might wish to save money and reduce administration by combining all their vehicles on one policy with one renewal date.
When you think of Fleet Insurance, it may conjure up views of an electrician or other allied trade with several vans all liveried up with the company logo. However, fleet insurance is much more far reaching, from mini fleets to mixed fleets and from rural fleets to family fleets. In this article we’ll look at each of these in a bit more detail.
Mini fleet, as the name suggests, is aimed specifically at smaller fleets, typically up to 5 vehicles. Often these fleets are going to need less administration compared to a larger fleet policy and, as there are fewer vehicles on the road at any one time, it could be argued the risk is reduced.
Normally as these are discounted products there can be conditions imposed on some policies – such as driver age and business types – so it’s worth checking with an experienced broker like Coversure and discussing your options in detail to see if a mini fleet policy is best suited for your circumstances.
If you’re a business based in the countryside, chances are you’ll have some more specialist vehicles, such as tractors, combine harvesters and quadbikes, and in which case you may need a rural fleet policy. The risk profile is often different for businesses that do a lot of diving in rural areas, compared to urban areas, as well and that’s where rural fleet cover comes in to its own.
You can often combine your non-agricultural vehicles on this policy as well giving you more flexibility and enabling you to have all your vehicles on one policy.
Special Types Fleet
Similar to a rural fleet policy, a special types fleet policy is for those vehicles that don’t fall under the normal list of vehicles in a fleet policy, such as cranes, forklifts and dumper trucks.
Once again, it is often possible to combine more usual commercial vehicles and business or company cars on the same policy as well, making administering a policy much easier. It’s often worth speaking to a local insurance broker like Coversure if you have an unusual range of vehicles to see if you can benefit from a specialist fleet policy like special types fleet cover.
Taxi fleet insurance is specifically designed for taxi firms that run multiple taxis. It’s designed to cater for the specific risks posed by taxis such as the frequent journeys made in urban areas that can involve higher than normal rate of claims.
It’s designed to save taxi companies money on their insurance by combining all their vehicles on one easy to administer policy.
It’s not just commercial vehicles that you can insure on a fleet insurance policy. A family fleet policy, often referred to as a multicar policy, will enable you to add multiple private cars and motorbikes on one policy so you and your family members can benefit from big savings on your car insurance.
These policies are not always available on price comparison websites, so if you have several cars and motorbikes at home, you should check with a local insurance broker like Coversure to see if you can save on your insurance using a family fleet policy.
It’s often a misconception that to have a fleet insurance, you need to have several of the same vehicles. A mixed fleet insurance will allow you to insure different types of vehicles on one policy. For example a few vans, a couple of company cars and even motorbikes if required (for example a courier business). These policies are flexible like many other fleet insurance policies.
As well as the different types of fleet insurance policies, there are also options to add additional covers to your fleet insurance policy such as fleet breakdown insurance, which works very similarly to a normal breakdown policy, but it’s specifically designed to cater for a wide range of vehicles on the same policy.
As you can see, fleet cover is not as simple as adding three or more vans to one policy and there are plenty of opportunities to save money and reduce time on administration. The best advice would be to speak to a local insurance broker, such as your local Coversure office and see whether they can save you money on your insurance.