What is Fleet Insurance?
Fleet Insurance is a type of policy that covers multiple business vehicles (known as a ‘fleet’) at once.
The key benefit of Fleet Insurance is that it’s an easy way of insuring multiple vehicles, rather than keeping on top of dozens of car insurance policies. Instead, you only need to renew one policy, even if you have different drivers.
How does Fleet Insurance work?
Fleet Insurance works by covering all the vehicles your business operates under one policy that is registered in the name of the company itself or in the name of a partner or director.
Motor fleets can vary wildly in size depending on your operation:
- Small fleets — Local trade businesses may have a fleet of as few as two vehicles. This is sometimes referred to as a ‘mini fleet’. We work with some insurers who do offer cover for two-vehicle fleets.
- Large fleets — Some taxi firms can have hundreds of vehicles in their fleets, so they often benefit most from a bespoke Large Fleet Insurance quote.
What does Fleet Insurance cover?
Depending on your individual circumstances, a Fleet Insurance policy from Swinton can provide protection for:
- Loss of, or damage to, your vehicles
- Vehicle recovery in the event of a breakdown or accident
- Support with paying legal fees
- Damage to your vehicles’ windscreens and windows
- Replacement locks should your keys be stolen
- Help towards medical expenses should you or a passenger be hurt in an accident in a vehicle that’s part of your covered motor fleet
At Swinton, we understand that your business needs can be complicated. That’s why we can also provide Fleet Insurance for:
- Protection for personal belongings that are lost or damaged in a vehicle insured under the policy
- Trailers attached or connected to a vehicle insured under the policy
Please note that all the benefits listed above are subject to the policy you choose through our specially-selected and trusted insurers.
What levels of Fleet Insurance cover are available?
We use a panel of insurers to give you two cover options for your Fleet Insurance policy:
- Comprehensive — The highest level of insurance you can have for your vehicles. A comprehensive Fleet Insurance policy covers you for damage to your vehicles, as well as any damage caused to other vehicles in a collision. You can claim for damages even if your drivers are deemed to be at fault.
- Third Party, Fire & Theft (TPFT) — While you won’t be able to claim for most damages to your vehicles on TPFT, you will be able to claim if they’re stolen or catch fire. You’ll also be covered for any damage to other road users and their cars.
What types of vehicles can I insure?
The types of vehicles required for a successful operation vary from business to business. Thankfully, Fleet Insurance covers the following vehicle types:
- Motorcycles (if part of a fleet with other types of vehicles)
- HGVs and trucks
Why choose Swinton for your Fleet Insurance?
- Extensive experience — We have over 15 years' experience in finding great Fleet Insurance deals for our customers.
- Specialist insurers — We compare quotes from a specialist panel of Fleet Insurance providers to give you the cheapest one we get back.
- Repairs covered — If your car is damaged, our Comprehensive policy will cover the repair cost up to the market value of your car (this includes both accidents and malicious damage).
- Market-value pay-outs — If a vehicle in your fleet is damaged or a total loss due to fire or theft, we will pay out up to its current market value.
- Inclusive Windscreen Cover — Windscreen Cover is included in our comprehensive Fleet Insurance options so you don’t have to buy it separately.
How much does Fleet Insurance cost?
The cost of Fleet Insurance depends on a number of factors that are unique to your business. These factors include:
- The number of vehicles in your fleet — The more vehicles you add to your Fleet Insurance policy, the more it will cost overall (although insuring a large quantity could mean you pay less per vehicle).
- Types of vehicles you’re insuring — High-value vehicles such as HGVs cost more to insure because of how much your insurer would need to pay out to cover its market value.
- Your company claims history — If your business has made few or no claims in the previous few years, it could help you get a cheaper Fleet Insurance quote.
- Your driver risk profile — The history of your drivers can also affect the overall price of your Fleet Insurance. A driver with points on their license or who has made a high number of claims in the past can make your whole Fleet Insurance policy more expensive.
- Time spent on the road — The longer your drivers spend out on the road, the higher the risk of a collision. This, in turn, can increase the cost of your Fleet Insurance premiums.
How to get a cheaper Fleet Insurance quote
Here are a few practical ways you can increase your chances of getting a cheap Fleet Insurance quote:
- Use electric or hybrid vehicles — Green vehicles can sometimes cost less to insure because they’re more environmentally friendly.
- Employ drivers with good records — Drivers with clean records over the age of 25 are the cheapest to insure because they present a low risk compared with younger drivers or those with an extensive claims history.
- Limit your mileage — Reducing the number of miles your drivers tally up is a good way to keep your premiums down. Look into consolidating deliveries or plan your routes more economically to accurately report lower annual mileage.
- Maintain your vehicles — If your fleet is in good shape, it’s far less likely you’ll have any breakdowns. Show evidence of regular tyre and engine checks to your insurer for a chance at a cheaper quote.
- Incentivise your drivers — Making drivers responsible for paying their own excess or bonusing staff that don’t make a claim is a good way to have everyone on your fleet drive more safely.
- Store your vehicles safely — Keeping your fleet stored at night in a secure facility, such as a garage or a CCTV-monitored car park, reduces the risk of theft, so insurers might give you a cheaper quote.
- Make use of technology — Installing dashboard cameras and telematics can help reduce your premiums by proving to insurers that your drivers are safe on the roads.
FAQs about Fleet Insurance
How many vehicles count as a fleet?
A fleet is defined as two or more vehicles that belong to or are leased by one business. That means even a start-up with a couple of vans has a commercial ‘fleet’ that they’ll need to insure.
There’s no upper limit to the number of vehicles that can count as a fleet, though most insurers will have a limit on the number of vehicles they can insure under one policy. At Swinton, we typically insure fleets of 3 to 5 vehicles.