Fleet
Fleet insurance explained: how to get quotes for your business
How fleet insurance works for UK businesses, the main policy types, what it can cover, what affects the cost and ways to manage your premium.
If your business runs more than one or two vehicles, insuring each one separately can mean a lot of paperwork and several renewal dates. Fleet insurance brings them together under one policy. This guide explains how it works and what to think about when you look for quotes.
What is fleet insurance?
Fleet insurance is a single motor policy that covers a number of vehicles owned or operated by one business. The minimum number of vehicles needed to count as a fleet varies between insurers. A fleet policy can cover a mix of cars, vans, lorries and specialist vehicles.
Types of fleet insurance
- Any-driver fleet policy: any employee with a valid licence (often within age limits set by the insurer) can drive any vehicle on the fleet. It is the most flexible option, but usually costs more.
- Named-driver fleet policy: only the drivers listed on the policy can use the vehicles. It can cost less, but you need to keep the list of drivers up to date.
As with a single vehicle, you can usually choose third party only, third party fire and theft, or comprehensive cover. Many businesses choose comprehensive because their vehicles are central to how they trade, but the right level depends on your vehicles and circumstances.
What does fleet insurance cover?
Depending on the policy, a fleet policy can include third party liability, accidental damage, fire and theft, windscreen cover, breakdown assistance and replacement vehicle cover. Extra covers can often be added or arranged alongside, such as:
- goods in transit for courier and delivery fleets
- hire and reward for taxi fleets
- tools cover for trades
- employers' liability, which is a legal requirement if you employ staff
What affects fleet insurance costs?
Your premium depends on the size of the fleet, the types and values of vehicles, the profile of your drivers, your claims history, annual mileage and the sector you work in. Courier and taxi fleets are generally seen as higher risk than a fleet of company cars because of the mileage and the type of driving.
How to manage your fleet insurance premium
- Invest in driver training.
- Install telematics so you can see how vehicles are driven.
- Fit dashcams, which can help settle disputed claims.
- Keep vehicles properly maintained and keep records.
- Review your driver pool regularly.
Getting fleet insurance quotes through Kompare
Kompare works with specialist fleet insurance brokers across the UK. You fill in a short form and a specialist, FCA-authorised broker from our panel contacts you about quotes for your fleet. Whether you run a taxi fleet, a courier fleet or a mixed commercial fleet, see fleet insurance, taxi insurance or courier insurance.