How Does a Motor Fleet Insurance Policy Works?

Legally, every vehicle on UK’s road has to be covered under an insurance policy. So, if you are running an enterprise that involves a fleet, you must get it covered under a cheap motor fleet insurance policy.

Let’s get to know more about business fleet insurance in detail.

What is a commercial fleet insurance policy?

If you have a business that involves running or maintaining a fleet, then instead of buying a policy for each car, bike, or HGV, buying a cheap motor fleet insurance would make sense. It allows you to cover your vehicles in a single policy if you own three or more than three vehicles at once.

One must compare business fleet insurance policies and choose one for all because handling individual policies can be stressful, time-consuming, and costly as well. A collective policy simplifies the process so that you could focus on your core operation. A motor fleet insurance covers third-party damage, fire, theft, and is fully comprehensive.

Standard division of motor fleet insurance policies

A cheap motor fleet insurance covers all vehicles registered under one name under one policy. It will cover accident and damage to own vehicle or third-party vehicle damaged by your vehicle. It even gets replacement locks and keys, in case one has lost their keys. Depending upon how large a fleet is, there are two categories of commercial fleet insurance policies:

Large fleets: A business that owns more than 20 vehicles would mean that they have a large fleet. Large fleets may have an overall high cost, but they benefit on cost per vehicle for insurance ( benefit of scale).

Small fleet: Local businesses that have vehicles less than 20 would be considered owning a small fleet. Cheap motor fleet insurance is available for small fleets also.

Large fleets: large fleets such as taxis and sales businesses that require site visits tend to have more vehicles in their fleets. Large fleets often benefit from more discounts and having all information under one policy to make it easier to manage.

What does a commercial fleet insurance policy cover?

You will get these benefits after you compare cheap motor fleet insurance policies:

  • Damage or loss to your vehicle
  • If your vehicle is involved in an accident or breaks down in the middle of your journey, it will be covered.
  • If anywhere legal fees have to be paid.
  • Repair the whole windowpane, windscreen, and windows, if your vehicle is involved in the damage.
  • Pay medical expenses if any passenger is injured.

Apart from this list, there are extra insurance cover you can buy, if they are more specific to your business. You can get specifically curated insurance for specialized fields like taxi fleet insurance, tools insurance, goods in transit, and a lot more. Moreover, a group of advisers is always active to help you out if you get stuck with a condition in the motor fleet insurance.

Time to compare motor fleet insurance policies and choose the cheapest one that offers all the benefits at the same time.