Motor Fleet Insurance
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Motor Fleet Insurance is used by professionals who require the use of more than one vehicle for deliveries or service or to convey staff and materials. Whatever the case may be, it is economically beneficial to ensure all the vehicles are under a single policy and this sort of policy is known as a motor fleet insurance policy. By utilising motor fleet insurance, you not only save money but also reduce the time spent.
Vehicle Fleet insurance provides you with the option to purchase insurance cover for all your vehicles from one broker. This is normally rewarded with a very attractive discount on your annual premium. This type of cover is very flexible and you can utilise it to insure 2 or more vehicles. Another advantage of this insurance is that you can cover different vehicle types with the same insurance. For example, motor fleet insurance gives you the same cover for a minibus, a lorry, and an SUV.
Different types of vehicle fleets covered:
What Does Motor Fleet Insurance Cover?
There are basically three types of fleet insurance including:
Third-Party Only: this is the minimum amount of insurance your company is legally required for operating on UK roads. This type of fleet insurance only protects against injuries to third parties, damage to their vehicles or property. It doesn’t protect the driver or pay for damage to the vehicle. This is the cheapest type of fleet insurance you can have; however, it’s important to understand that you will have to pay any medical bills for the driver and for repairs to the company vehicle.
Third-Party, Fire & Theft: this type of fleet insurance covers everything in the third party insurance, but also includes coverage for theft and fire to the company vehicle.
Fully Comprehensive Cover: is the highest level of fleet insurance coverage, and includes everything listed above, along with everything else including medical bills for the driver and repairs to company vehicles.
Motor Fleet Insurance Can Cover:
Flexible Monthly Payments
24hr Claims Helpline
Full EU Cover
No Claims Discount / Protected NCB
Enhanced Claims Service
Motor Fleet Insurance FAQs
What is Motor Fleet Insurance?
Motor Fleet Insurance protects businesses from compensation claims from third parties as a result of a motor accident. These third-party claims could be in the form of financial compensation for injury or property damage for a third party.
Motor fleet insurance consists of more than 2 or more vehicles, either family or business fleet.
Fleet insurance is a type of business vehicle insurance coverage that’s used to protect multiple company vehicles (a fleet). The fleet can be made up of cars, vans, trucks, or a combination of these vehicles. The point is that these vehicles are used for business, which may include the transport and delivery of goods.
You may already know that in the UK, it’s a legal requirement for all vehicles driving on public roads to have insurance. This includes commercial vehicles, too. Fleet insurance meets this legal requirement.
In fact, this type of policy may even make it cheaper to get insurance on all your vehicles. They’ll be covered under one plan, and you’ll also have only one renewal date to remember.
What are the Benefits of Motor Fleet Insurance Coverage?
Here are some of the benefits your company can enjoy by purchasing fleet insurance:
- Motor Fleet Cover – Compare Quote & Save Money
- Any Size Fleet From 2 to 1000+ Vehicles
- All Types of Vehicle
- Taxi Fleet, Courier Fleet, Haulage Fleet, Business Fleet, Van Fleet & Many More
- Flexible Monthly Payment Options
- Any Driver Insurance Aged Over, 21, 23, 25 & 30
- Toxic, Explosive, or Inflammable Goods
- Worldwide, UK & European Insurance Cover
- Breakdown Assistance Optional
- One policy covers all company vehicles
- Renew one policy, rather than multiple policies (one for each company vehicle)
- Instant coverage for your entire fleet
- Fast response time if you need to file a claim
- Insure your entire fleet up to 1000 or more (depending on the provider’s policy)
As you can see, there are a number of benefits to choosing fleet insurance if you have 2+ vehicles.
Types of Motor Fleet Insurance
There are different levels of coverage when it comes to fleet insurance and generally offers similar protection as standard car insurance. However, fleet insurance is for businesses, while standard car insurance is for individuals who do not use their vehicles for business. The three levels of fleet insurance are:
Third-Party Only: this is the legal minimum level of coverage you must have to meet UK driving laws. This policy protects other people and damage to third party property if you are found at fault for an accident. This type of policy does not protect the driver of the vehicle. It is also the least expensive fleet insurance coverage. While this may seem like a good enough policy, keep in mind the driver and isn’t covered if they’re injured, and damage to the vehicle is not covered. These are expenses that can quickly eat away at a company’s budget.
Third-Party, Fire, & Theft covers the same as mentioned above, along with fire damage or theft. It can also protect against accidental fires and arson, and more. This is the middle type of coverage when it comes to cost.
Comprehensive: includes all the above, as well as protection of vehicles & the goods being transported. It also covers the driver and any medical costs that may result from an accident. This is the most expensive type of fleet insurance, but it also offers much more protection than the others. This type of coverage may also payout when it is not clear who was at fault.
Policies can also include the following; however, each policy and the coverage will vary by providers:
- Loss or damage to vehicles
- Vehicle recovery due to accident or breakdown
- Legal fees
- Damage to windows/windscreens
- Replacement locks if keys are stolen
- Medical expenses for drivers and their passengers injured in an accident with an uninsured vehicle
- Some policies also cover driving abroad, though there may be a cap on the number of days that are allowed each year
- Protection for personal belongings that are lost or damaged in an insured vehicle
- Trailers attached to a vehicle
- Use of a courtesy car while the truck is being repaired
- Breakdown cover
You will find these specifics are available from most providers and are included in the policy, or by purchase as an optional extra (these do carry additional fees).
Motor Fleet Insurance Exclusions
There are some exclusions, which again, will vary by provider. Some insurers may only cover certain vehicles, not include coverage for forklift trucks, motorbikes and excavators. Insurers usually do not accept vehicles that are insured under a separate policy or vehicles not registered in the UK.
Some of the most common exclusions include:
- Damage to tires or body underside
- Mechanical breakdown (may be available as an optional extra with some providers)
- Vehicle theft due to driver negligence (leaving the vehicle unlocked)
There may also be varying driving restrictions to choose from when buying a policy. You can choose “Any Driver,” which allows anyone with a valid UK license to drive your vehicles that are covered under the policy.
Another option is to choose “Named Drivers” for each specific vehicle. This is the least expensive option of the two.
How Many Vehicles Does a Motor Fleet Insurance Policy Cover?
Each insurance provider will have its own specifics when it comes to the number of vehicles that can be covered under this type of policy. However, generally speaking, many providers allow as many as 500 vehicles to be covered by their fleet insurance. And there are policies available for companies that have even more vehicles.
How to Cut Costs on Motor Fleet Insurance
The key to reducing the cost of fleet insurance premiums is to keep risk to a minimum. This means the insurer needs to see that all drivers are responsible, have a UK license, and the right credentials to drive the fleet vehicles. Drivers should be over the age of 25 because insurers see them as more careful than younger people. They should also have clean driving records.
If you do have a younger driver (under 25), then it is possible to limit their mileage, allow them to drive only during the day, or accompanied. These are ways to lower insurance rates for young drivers.
Fleet Insurance can support any drivers aged over 21, 25, 30 and this could be an effective way to allow different drivers to drive different vehicles.
- Any driver over 21 Years of age
- Any driver over 25 years of age
- Any driver over 30 years of age
Sending drivers to training courses will also help insurance providers to view your drivers as more responsible and having the knowledge to drive safely, even in bad weather.
Insurers also like to see that vehicles are properly maintained. This means drivers should conduct daily checks of their vehicles, which includes checking tire pressure, oil levels, and brake pads. All this information should be kept in a service record logbook.
It is also possible to make drivers responsible for paying their own excess. This is a way to ensure they are safe drivers.
Improving the security of vehicles is another way to save money. This may include keeping all fleet vehicles in a safe parking lot that is managed with CCTV, dashboard cameras, locked garages, immobilizers in the vehicle, and more. These may seem like expensive things to add to the fleet, but the cost is worth it to help insurers see that you have lowered the risk to vehicles. This means you pose a lower risk, and your premiums will be lower.
Fleet insurance saves you money by ensuring all company vehicles under one policy. Plus, you do not have to worry about individual renewal dates for each vehicle.
How Much Does Motor Fleet Insurance Cost?
The price will vary by insurer, but you can generally count that the premium total will depend on the level of coverage you take out. The price will also be determined by the type of vehicles and drivers in your fleet.
The cost of your premium will also depend on the level of risk the insurance provider determines you present their company. Even where you park the vehicles overnight can determine how much the premium will be. For example, if the fleet is left unprotected at night, you will present an increased risk of theft, which means your premium will be higher. On the other hand, if company vehicles are parked in a secure location, your premium could be cheaper.
Other factors that may be used to determine your premium include:
- Electric/hybrid vehicles (can lower premiums): they don’t pose as much risk since engines are usually not as powerful, plus they have lower CO2 emissions, which can also lower premiums
- Age of drivers: those over 25, with a clean driving record, will be seen as lower risks, which can lower the premium. However, younger drivers can increase the premium. However, some providers will allow for training courses or require younger drivers to be accompanied, both of which can lower premiums.
- Training courses for drivers: can also lower the risk and reduce premiums.
- Regular vehicle maintenance: including daily checks on tyre pressure, oil, brakes, and keeping a service log can reduce premiums.
- Make drivers responsible for their own excess: can also help to lower premiums
- Security: improving the security of the fleet and individual vehicles can reduce the premium.
- Telematics: something like a “black box” can be installed on each vehicle, which allows for monitoring driver speed, behavior, etc. This can also help reduce the premium.
The price of your fleet insurance is based on many variables, and each insurer has its own risk calculations that are used to evaluate these variables. The main thing is to figure out how to lower your risk, which will work (in most cases) to lower the cost of your premium.
Another way to keep premiums down is to do your homework. This means you’ll need to do some comparison shopping. This is not difficult—you just need to use one or more insurance comparison sites to receive fleet insurance quotes from a number of insurance providers.
Once you’ve done the comparison, note down the insurers that look like they might offer a fleet insurance plan that meets your needs. Make a list of these providers, and then contact each one personally. It’s always best to talk directly with an experienced insurance agent or broker before making such a big decision.
And remember to read through each fleet insurance policy before making your final choice on providers. This way you’ll know exactly how the policy works and will have a chance to ask questions about points that may need additional clarification. This way, you’ll be sure to buy only the type of policy that’s a good fit for your company.
What do you need for Motor fleet insurance?
To be able to apply for Motor fleet insurance you need at least a fleet of three vehicles or over. However, this does vary depending on the provider. The maximum is usually up to 500 vehicles, but there are policies available to cover several thousand vehicles, suitable for large enterprises.
What is a motor fleet insurance policy?
Motor Fleet insurance is a businesses insurance aimed at companies with two or more vehicles. It makes it possible to insure multiple vehicles – from cars, minibuses, trucks, HGVs and taxis – on a single insurance policy.
Can anyone drive fleet insurance?
Most fleet policies are usually arranged on an Any Authorised Driver basis which means that anyone can drive with the permission of the company/directors., these could be younger drivers under 25, if included, will usually have an increased excess applicable when they are driving.
How many vehicles is considered a fleet?
The definition of a fleet is pretty simple – any company or person that has more than one car, van, HGV, minibus, Taxi or any other vehicles which are 2+ vehicle is classed as a fleet. Technically, the company need not even own the cars for them to be considered a fleet. Companies that use fleet vehicles often lease them for their employees rather than buy them
What does Motor fleet insurance cover?
Motor Fleet insurance is essentially a multi-vehicle insurance policy covering the different types of vehicles your business owns and uses for commercial purposes. It’s available to any registered business with two or more company-owned vehicles within its fleet.
This type of insurance is a great way of managing your business vehicle insurance obligations within a fleet because it condenses all your vehicles’ cover into just one policy. That way, when it’s time to renew, you only have to update one policy; regardless of how many vehicles your company has in service.
What types of vehicle does motor fleet insurance cover?
Motor Fleet insurance extends to all classes of vehicles owned and operated by your company for its business operations. This includes any company-issued cars your employees use for work journeys, as well as taxis, motorcycles, minibuses, HGVs, trucks and even plants used on construction sites.
Providing all the vehicles you want to insure are registered under the same business ownership they’ll qualify to be included as part of a combined fleet insurance policy.
What are the different types of motor fleet insurance available?
Typically, these fall into three categories:
1. Third party only
If you opt for third party fleet insurance only you’ll be covered for third party damage to another driver and/or his or her vehicle. This is the cheapest form of fleet insurance and the minimum amount of legal cover required for fleet businesses to operate. While less expensive than other types of fleet insurance, this policy does not pay out for damage to your own vehicles and drivers. Therefore, in the event of an accident, you would be liable for any repairs to your own vehicles.
2. Third-party, fire and theft.
Third-party, fire and theft, fleet insurance, offer you a higher level of protection than just third party alone. While there’s no legal requirement for this policy, the addition of fire and theft means you’ll be able to make a claim if a vehicle in your fleet is stolen, or sustains damage as a result of a fire. This policy type also covers you for any injury or damage to third parties in the event of an accident.
3. Fully comprehensive
Fully comprehensive fleet insurance is the most advanced form of cover on the market and consequently the most expensive of the three policy types. If you elect for fully comprehensive fleet insurance you’re protecting yourself against all of the above (theft, fire and third party) but also covered for damage to your own vehicles and drivers.
What are the benefits of fleet insurance?
From the ability to lower insurance premiums for your vehicles, to reducing office admin, taking out fleet insurance offers businesses a range of attractive benefits, in addition to peace of mind:
• Just one policy to cover all business vehicles
With fleet insurance, you can insure every vehicle in your company’s ownership on just one policy, regardless of vehicle type. This means that even mixed-use vehicles can be insured together, without the need to take out individual policies for every vehicle in your fleet.
• One policy renewal date
Insuring every vehicle in your fleet on the same policy means you only have to deal with one policy renewal date. This is especially beneficial in businesses with a large number of vehicles on the road as it significantly reduces admin time, freeing up resource to focus on other areas of your business.
• The possibility of cheaper premiums
Choosing to take out fleet insurance can work out cheaper than individually insuring vehicles within your fleet. If one of your vehicles is involved in an accident, an insurer may choose to spread the cost of any claim made across all vehicles, subsequently lowering the premium you pay.
How much does fleet insurance cost?
How much your fleet insurance premium will total depends entirely on the level of cover you take out, and the types of vehicles and drivers you have in your fleet.
When you’re applying for fleet insurance you’ll be asked for some details about your vehicles, all of which will affect the premium price you’ll be offered.
Does fleet insurance cover my drivers?
Again, this is dependant on the type of policy you take out. Fully comprehensive is the only fleet insurance that includes driver cover, so if you want your drivers to be insured, this is the policy type you should be looking at.
When seeking comprehensive cover, you’ll also be asked to provide some information about the drivers in your fleet. This is so an insurer can offer you a bespoke quote, based on your business’s unique circumstances. As before, it’s vital you answer honestly and volunteer all the required information when requested to do so.
Driver factors that generally affect fleet insurance premiums include:
- Drivers age
- Whether you want to name individual drivers or have an all-driver policy (where anyone that meets the driver criteria is covered)
- Any previous driving convictions
Naming each driver typically brings the price of the policy down, while having young drivers in your fleet (aged under 25) can increase the costs. If you do elect to name each driver it’s vital you keep your insurer informed when you make new hires, as any driver not named on the policy won’t be covered.
Can I add taxis to a fleet insurance policy?
Of course, you can, fleet insurance will cover any vehicles where there 2+. Both private hire and public hire taxis can be covered by a taxi fleet insurance policy. Black cabs, minicabs and minibuses are all eligible for cover with fleet insurance, which is why many taxi firms choose to get this type of cover for their vehicles.
What factors affect the cost of a fleet insurance policy?
There are several key factors that affect how much you’ll pay for a fleet insurance policy. Some of the main ones include –
– The number of vehicles being insured
– The type of vehicles
– The value of the vehicles
– How secure your vehicles are
– The number of named drivers
– The driving history and claims experience
– Where the vehicles are stored
– How the vehicles are used
How do I get motor fleet insurance?
Fleet insurance is incredibly complex and comprehensive so it’s best to speak to a qualified insurance broker who can verify that the policy you take out meets all your needs and at the most competitive price.
Our specialist brokers have many years of experience organising business insurance policies for the UK fleet sector.
Complete the online fleet form and our partner broker will call you back: Please complete me
Our advisors will take a few details from you and use the information provided to secure you the cover you need, for the best possible annual or monthly premium.
RHA – Road haulage Association – The only UK Trade Association Dedicated Solely to the Needs of UK Road Transport Operators.
FORS – The Fleet Operator Recognition Scheme (FORS) is a voluntary accreditation scheme for fleet operators which aims to raise the level of quality within fleet operations, and to demonstrate which operators are achieving exemplary levels of best practice in safety, efficiency, and environmental protection.
FTA – FTA is one of the biggest business groups in the UK, supporting, shaping and standing up for efficient logistics. We are the only organisation in the UK that represents all of logistics
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