The reasons my clients coming to me for a motor fleet insurance policy are wide and varied. When they come to me, some clients have had a fleet policy for years but just weren’t entirely certain they were getting the best deal (usually they weren’t).
However, new clients are increasingly approaching me to look into a motor fleet policy for the first time, so I thought I would share some of the circumstances in which this has happened, for anyone unsure as to whether they should look at a fleet policy for their vehicles.
If your business owns two or more vehicles
Most businesses simply buy another single vehicle policy as and when they buy or lease a new van or car. This can end up being quite expensive when you look at all of the insurance premiums as a whole, not to mention the admin involved and making sure all the right drivers are allowed to drive the right vehicles.
If you plan to buy more vehicles
If you plan on buying or leasing more vehicles, you are likely to find a situation where you are looking at a new single vehicle quote to cover a new vehicle but don’t have any ‘no claims bonus’ to apply, as you are using it on your other vehicle(s). Usually this makes for a really expensive first year’s premium on that new vehicle. As motor fleet insurance is often rated differently, this could be a more cost effective route.
If you have a mix of cars, vans and/or special type vehicles
If your business dictates that you need to run a combination of cars, vans or maybe special type vehicles such as tippers, diggers, cherry pickers etc, then you may find it difficult and/or expensive to insure these vehicles individually. Motor fleet insurers tend to be more open to accepting a mixture of vehicles on their policies for reasonable rates.
If you are not a motor trader
This one sounds a bit odd, but only recently I was approached by a client who used to be a motor trader and until recently had insured all of his vehicles on his traders policy. However, now he has a very different business, he recognises that he can no longer run on a motor trade policy and so is now looking at insuring his vehicles on a motor fleet policy. It is worth noting that only genuine motor traders can successfully insure their vehicles on a motor trade policy and insurers are cracking down on people trying to manipulate the system by claiming to be a trader.
So should you be looking at a motor fleet insurance policy?
The truth is there’s no right or wrong answer, as a company’s insurance portfolio must be tailored to its needs – but there’s only one way to find out – speak to a motor fleet insurance broker to get some free advice and quotes.