When our fleet insurance team phone goes off within Insurance Connections HQ, it’s fair to say that we have a wide variety of diverse clients, with vastly different levels of knowledge about fleet insurance.
Some phone calls are established fleets and clients of ours, with the fleet managers adding or amending vehicles and drivers, or perhaps asking for some risk management advice such as vehicle tracking or telematics.
Other enquiries are people that have little knowledge of fleet insurance and are calling Insurance Connections on the recommendation of a friend or business associate, or perhaps finding us via a Google search.
But never fear, our fleet insurance advisors are totally used to this and are more than happy to guide you through the basics of fleet insurance and help you decide is a fleet policy is suitable for you.
As such, we asked our fleet insurance team for some FAQ’s regarding a fleet insurance policy:
Q – What is fleet insurance?
A – A fleet insurance policy is a multi-vehicle insurance policy whereby you would have all your vehicles on one insurance policy with one renewal date.
Q – How many vehicles do you need for a fleet insurance policy?
A – Fleet insurance can start from as little as 2 vehicles, although most insurers start at 3 vehicles. After that, the skies the limit and some of our clients have hundreds of vehicles on their fleet policy.
Q – What type of vehicles can be insured?
A – Pretty much any vehicle that can be legally driven on the UK roads. Motorbikes, cars, small vans, large vans, trucks up to 44 tonnes and specialist vehicles too.
Q – What’s the advantage of fleet insurance?
A – The main advantage is time and admin saving, although it can save you money as well. Having all your vehicles (and drivers) all on one policy saves a huge amount of time and it means you only have one contact also, your insurance broker, our clients love having a dedicated account manager at Insurance Connections rather than a myriad of phone numbers and faceless call centres.
We pick up the phone first time and often our clients have their account manager’s mobile phone, for out of hours amends to the vehicles in emergency situations.
Q –Is there No Claims Bonus like individual car insurance policies?
A – There is a NCD (no claims discount) that can be transferred across from your private cars and this then becomes CCE (confirmed claims experience) which is the fleet insurance version of no claims bonus. It is your Confirmed Claims Experience that will be taken account of with your renewal pricing.
Q – Can I have any drivers on my fleet insurance?
A – You can choose an “any driver” policy or a “named driver” policy and you can specify which drivers can driver which vehicles. It is more expensive to have an any driver policy due to the associated risks, although you can mitigate that with age restrictions (e.g., must be over 25) or restrictions on motoring convictions (although your company must be actively checking and monitoring convictions).
Q – Is it difficult to set up a fleet insurance policy?
A – Not really. We’ll need details of your current business vehicles and the drivers and then we can search the market and provide a quotation. You can either transfer all your individual policies in one go (we can help you with this process) or transfer vehicles to your fleet policy when they come due for renewal in a gradual process.
Q – Will I save money with a fleet insurance policy?
A – There is a good chance that you will! Fleet insurance underwriters are hungry for new clients, and as you will be moving your vehicle insurance to them in the form of a fleet policy, may offer a generous discount to pick up your business. They will also take into consideration your existing NCB obtained with your single vehicles.
Thank you for reading this article – we are sure there maybe other fleet insurance questions you may have so please drop us a line to [email protected] or call 01270 914660.