iStorify

Top Menu

  • Home
  • Conact Us
  • Privacy Policy

Main Menu

  • Home
  • Business
  • Technology
  • Fashion
  • Games
  • Health
  • Travel
  • Sports
  • News
  • Misc
    • Autos
    • Blog
    • Clothing
    • Education
    • Entertainment
    • Food
    • Fun
    • Games
    • Home Improvement
    • Politics
    • Real Estate
  • Home
  • Conact Us
  • Privacy Policy

logo

iStorify

  • Home
  • Business
  • Technology
  • Fashion
  • Games
  • Health
  • Travel
  • Sports
  • News
  • Misc
    • Autos
    • Blog
    • Clothing
    • Education
    • Entertainment
    • Food
    • Fun
    • Games
    • Home Improvement
    • Politics
    • Real Estate
Finance
Home›Finance›What is Motor Fleet Insurance?

What is Motor Fleet Insurance?

By Emily Williams
5th July 2021
69
0
Share:
What is Motor Fleet Insurance?

Motor fleet insurance is a special business user policy designed to provide multiple vehicles coverage at once. These policies are taken out by companies that want to provide insurance protection for their business vehicles. Motor fleet insurance provides coverage for vehicles being used for business purposes and covers loss or damages caused due to any accidents or theft.

 

According to NimbleFins, motor fleet insurance policies shine not only for discounts that can be achieved but also because premiums and renewals are easier to manage. As all company vehicles are contained on one policy, it eliminates the need for tracking multiple renewal dates and keeping up with different monthly or annual premium payment dates. Additionally, many vehicle types can be included on the insurance, and it is not uncommon to see cars, trucks, and motorbikes all on one policy.

 

As the business needs change, vehicles can be easily added or removed from the policy to maintain coverage for the current fleet. A minimum of 2 vehicles will be needed to qualify as a ‘fleet’ and to be eligible to purchase a fleet policy. This type of insurance has been designed to accommodate most commercial needs with an upper limit of 500 insured vehicles allowed on most policies for large organisations.

What is a fleet insurance policy?

Companies use a fleet insurance policy to protect their vehicles while allowing them to be driven by many different people. For example, company employees may need to use different size vehicles on different days. Some types of fleet insurance provide protection across the board, no matter which vehicle is being used by which driver to perform business duties.

 

Protection applies when the vehicle is being used for business only, coverage will not apply if the vehicle is being used for personal reasons. Personal use should be ‘incidental’. Other limitations may also be in place depending on the terms of the fleet insurance policy. For example, companies can elect to have named drivers only use their vehicles to help keep premium payments lower.

 

‘Any Driver’ policies allow just about anyone to operate company vehicles, as long as the drivers are within certain age groups (e.g. 25 years of age and over). Provided they have a full UK driving license and have the company’s permission or its directors, they may drive a vehicle for business purposes under the fleet insurance policy.

 

As well as offering multi-driver and multi-vehicle protection, fleet insurance will shield companies and from:

 

  • Theft
  • Damage
  • Windscreen and Window Damage
  • Lost Keys
  • Medical Expenses
  • Breakdowns

 

Provided that the driver is a named driver, or the company has purchased an ‘Any Driver’ policy, the cost of vehicle repair or replacement and claims expenses will be covered in the event of any covered losses or accidents.

How to compare fleet insurance

Obtaining fleet insurance for your company will mean considering a few things. The coverage amounts needed along with the number and age of vehicles will affect the cost of premium payments for your policy. Deciding whether a named driver or any driver policy will work best for you and taking driver age limitations into account will also be a factor that impacts pricing.

 

Each insurer and policy will be different, and premiums can vary widely across insurance companies depending on the options selected. With such differences in premium amounts, it is important to compare quotes to get the best deal.

 

By using a comparison engine, you enter your information and view quotes for fleet policies provided by multiple insurance companies. Compare things like excess amounts, policy limits, and monthly premiums at a glance. Be sure to check any special policy limitations, conditions, or restrictions, and make sure you are getting the right policy for your business.

Is fleet insurance a cheaper option?

When purchased per vehicle, car and vehicle insurance can end up costing substantially more than buying a fleet policy. With individual policies, the type of vehicle, age, mileage is driven, and other factors combine to determine the cost of the insurance policy.

 

The same is true for fleet insurance but having company vehicles gathered together under one policy means that rates are often far less than insuring each car or truck individually. In addition, as these insurance policies are used for business purposes, there are some smart ways of reducing policy premiums even further.

 

Things like driver training programmes, safety courses, or using alarms and immobilisers to protect vehicles from theft can all help to reduce premiums. With a bit of research, companies can also opt for cars or trucks that fall into lower insurance groups, making the cost of the fleet policy more economical, which can be especially useful for smaller businesses with limited resources.

 

Lastly, installing vehicle trackers to benefit from safe driving practices, naming drivers, and restricting the age of anyone operating the vehicle is a great way to keep policy premiums down to a minimum.

Previous Article

UN accuses Russian trainers of excessive violence ...

Next Article

Ryan Reynolds reads to children on the ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Do I Need Beauty Insurance If I'm Self Employed?
    Finance

    Do I Need Beauty Insurance If I’m Self Employed?

    30th March 2021
    By Emily Williams
  • Limited Company Insurance Legal Requirements
    Finance

    Limited Company Insurance Legal Requirements

    17th June 2021
    By Emily Williams
  • Smart Tips to Get Approved for a Mortgage Loan
    Finance

    Smart Tips to Get Approved for a Mortgage Loan

    15th November 2019
    By Emily Williams
  • How to Get Cheap Taxi Insurance
    Finance

    How to Get Cheap Taxi Insurance?

    21st April 2021
    By Emily Williams
  • What is Public Liability Insurance for Events?
    Finance

    What is Public Liability Insurance for Events?

    29th July 2021
    By Emily Williams
  • Does A Massage Therapist Need Insurance to Work in the UK?
    Finance

    Does A Massage Therapist Need Insurance to Work in the UK?

    8th September 2021
    By Emily Williams

  • mother of the bride
    ClothingFashion

    Trending Mother of the Bride Outfit Brands

  • Libra Facebook
    BusinessInternationalNews

    Finance Ministers Not Happy With Facebook Currency Libra

  • serena william
    EntertainmentNews

    Serena Williams calls marriage to Alexis Ohanian hard work

  • Recent

  • Popular

  • British Prince Andrew Settles Abuse Case in US

    British Prince Andrew Settles Abuse Case in US

    By Emily Williams
    15th February 2022
  • Treating Infertility at London Obs & Gynea Clinic

    Treating Infertility at London Obs & Gynea Clinic

    By Emily Williams
    18th January 2022
  • What Information do Car Insurance Companies have Access to in the UK?

    By Emily Williams
    15th November 2021
  • Alexei Nawalny

    Alexei Navalny describes the parliamentary election as stolen

    By Emma James
    21st September 2021
  • Mark Rutte

    Follow the press conference about corona measures here at 19.00

    By Emma James
    14th September 2021
  • cruise missile tests

    North Korea fires cruise missiles during exercise.

    By Emma James
    13th September 2021
  • Does A Massage Therapist Need Insurance to Work in the UK?

    Does A Massage Therapist Need Insurance to Work in the UK?

    By Emily Williams
    8th September 2021
  • Lady Gaga

    Dog walker says Lady Gaga helped him process trauma.

    By Emma James
    2nd September 2021
  • Joe Biden

    Look at the US first and then.

    By Emma James
    1st September 2021
  • Michel Barnier

    Former Brexit chief negotiator wants to become French President

    By Emma James
    27th August 2021
  • British Prince Andrew Settles Abuse Case in US

    British Prince Andrew Settles Abuse Case in US

    By Emily Williams
    15th February 2022
  • Drivers License Test

    Tips and Importance of Driver’s License Test

    By Emily Williams
    10th April 2018
  • P2P Loans & CrowdFunding

    P2P Loans & CrowdFunding- How They Are Different

    By Emily Williams
    9th April 2018
  • Mechanical Keyboards

    Go For Mechanical Keyboards If You Are a Game Lover

    By Emily Williams
    8th April 2018
  • mother of the bride

    Trending Mother of the Bride Outfit Brands

    By Emily Williams
    7th April 2018
  • Experience the Pure Thai Culture in Urban Thailand

    Experience the Pure Thai Culture in Urban Thailand

    By Emily Williams
    6th April 2018
  • Same Day Courier

    Important Aspect to Hire Services of Same Day Courier

    By Emily Williams
    5th April 2018
  • Industrial Boilers

    Different Types of Industrial Boilers

    By Emily Williams
    4th April 2018
  • Pre-Workout Supplements

    Top 5 Pre-Workout Supplements To Boost Body Growth

    By Emily Williams
    3rd April 2018
  • Academic Transcriptions

    Researchers & Scholars-Save Money & Time with Academic Transcriptions

    By Emily Williams
    2nd April 2018

Latest Tweets

    Please install plugin name "oAuth Twitter Feed for Developers

Find us on Facebook

  • Recent

  • Popular

  • Comments

  • British Prince Andrew Settles Abuse Case in US

    British Prince Andrew Settles Abuse Case in US

    By Emily Williams
    15th February 2022
  • Treating Infertility at London Obs & Gynea Clinic

    Treating Infertility at London Obs & Gynea Clinic

    By Emily Williams
    18th January 2022
  • What Information do Car Insurance Companies have Access to in the UK?

    By Emily Williams
    15th November 2021
  • British Prince Andrew Settles Abuse Case in US

    British Prince Andrew Settles Abuse Case in US

    By Emily Williams
    15th February 2022
  • Academic Transcriptions

    Researchers & Scholars-Save Money & Time with Academic Transcriptions

    By Emily Williams
    2nd April 2018
  • Pre-Workout Supplements

    Top 5 Pre-Workout Supplements To Boost Body Growth

    By Emily Williams
    3rd April 2018

Please Subscribe!

Enter your email address:

Follow us

© 2021 - iStorify.co.uk. All Rights Reserved.