Understanding Motor Fleet Insurance -Essential Insights and Tips

Motor Fleet Insurance: What You Need to Know 

If you have a set of vehicles for your business, you might be wondering about the best way to cover them. The good news is, Motor Fleet Insurance can be a flexible and cost-effective way to protect your vehicles and drivers, no matter whether you have just two or a dozen vehicles. 

So, what is Motor Fleet Insurance? 

Fleets come in all shapes and sizes, and policies can start from as few as two vehicles. Thanks Motor Fleets, cover for multiple drivers has become easier than ever. Instead of being limited to just 4 or 5 named drivers, fleet policies often allow you to add an unlimited number of drivers. Plus, you won't need to update your policy every time someone new joins or leaves your team – which makes life a lot simpler! 

How do fleet insurance costs work? 

Most people think of No Claims Discounts when it comes to car insurance, but fleets are a little different. Instead, they operate on what's called a Fleet Claims Experience. This looks at the total number of vehicles in your fleet, how many claims there have been, and how much those claims cost.  

For example, an insurer might see a fleet of 9 vehicles with one claim of £5,000 over three years as more manageable than a smaller fleet of just 3 vehicles with a similar claim. If your fleet grows, the insurer can even estimate future claims. Say your fleet expands from 3 to 9 vehicles, they might predict there could be three claims totalling £15,000 over three years. This helps insurers assess the risk more accurately and give you a fairer rate. 

Tips for keeping costs down and managing claims 

There are plenty of ways to help lower your insurance costs and make handling claims smoother. Here are some ideas: 

• Review your drivers: If possible, restrict driver eligibility to those over 25 or 30 years old. This widens the pool of insurers willing to quote you and can sometimes lead to better rates. 

• Note where vehicles are parked overnight: The postcode where your vehicle stays can influence your premium. Keeping vehicles in safe, low-risk areas can make a difference. 

• Install dashcams: While dashcams might not always lower your premium, they’re incredibly useful. They provide clear evidence in case of disputes over liability, making claims easier and faster to resolve. 

• Claims reporting procedures: Some insurers now offer rewards if you report claims very quickly — often within a set time frame after an accident. Make sure your drivers have a handy handbook or quick access to contact details, like the claims line, and guidance on what info to gather from the other party. This can speed up the process, especially for non-fault claims. 

• Regularly check drivers’ licenses: Annually verify that your drivers haven’t acquired any convictions or other issues that need to be reported. Staying up-to-date helps keep your insurance valid and affordable. 

  
  

Be mindful when shopping around 

Finally, it’s worth noting that insurers can be cautious if you switch between markets frequently or if many insurers are quoting for the same risk — particularly if you have more than 15 vehicles. To avoid this, try to work with fewer brokers when seeking quotes, and be consistent with your insurance providers. 

In conclusion 

We hope these tips help you when considering your fleet insurance options. If you'd like some advice tailored specifically for your business, or if you want us to help you find the right coverage, don’t hesitate to get in touch. We’re here to help!