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What is fleet insurance? Explained 1O1

FAQs by Get Indemnity ™


Fleet insurance definition

Fleet insurance allows companies to effectively manage all their vehicles and drivers under one policy. Cover typically starts at a minimum of 3 vehicles under mini fleet insurance and can be extended to insure a fleet of any size.

Vehicle insurance is a legal requirement to drive on UK roads. A minimum third party insurance is required to protect from an accident causing damage or injury. As specialist fleet insurance brokers, we have access to the wholesale market to offer premium savings and flexible cover. 

What level of fleet insurance cover do you need?

The three levels of fleet insurance cover available are the same as your personal car or van insurance. These can be mixed to meet your requirements for specific vehicles.

>  Third party insurance
>  Third party, fire & theft insurance
>  Comprehensive insurance

Third party insurance is a form of self-insurance because if an accident occurs the insurance will only provide cover for damages to the third party.

Cost savings on fleet insurance can usually be achieved by purchasing third party insurance. However, consideration should be made to the loss of protection available with a fleet insurance broker.

Typically, a business will achieve greater value for money when opting for comprehensive cover. However, some businesses prefer to self-insure to minimise their insurance cost.

Named driver or any driver insurance?

One benefit of operating business fleet insurance is the ability to arrange cover on an any driver basis. This means any employee that meets your insurance requirements can operate any vehicle without having to update your insurer.

Any driver insurance can improve the flexibility of your operation knowing that any employee is able to drive any vehicle providing they have a valid drivers license. The cover offers useful protection should you forget to update your insurer, have temporary employees or a high turnover of staff.

However, cost savings can be achieved by operating your business fleet insurance on a named driver basis. Policies can be easily updated and managed to ensure you only purchase the cover you require. As specialist fleet insurance brokers, we can identify a variety of options available and tailor your quotes to meet your specific requirements.

How many vehicles is fleet insurance best suited?

Mini fleet insurance policies will typically accommodate a minimum of three vehicles. However, greater cost savings will be achieved once the fleet increases in size.

For a business with less than five vehicles it is worth comparing fleet insurance quotes against multi-vehicle insurance available from direct insurers.

Business fleet insurance can make the administration easier, however you may not acheive cost savings, especially if you have no claims discounts already applied.

What business insurance can be purchased with fleet?

Some insurers will offer the following cover under a business fleet insurance policy:


Fleet Insurance FAQs by Get Indemnity

This guide is for information purposes and based on sources we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.