Rigby Financial

Commercial Motor Fleet Insurance

The use of individual vehicle insurance policies can be expensive and difficult to manage, often with hidden stipulations regarding who can drive certain vehicles and restrictions in the type of use.

However, motor fleet insurance can provide you with cover for a variety of vehicles and give you flexibility regards who can drive under one easily manageable commercial fleet insurance policy.

So, if you’re looking to insure your commercial vehicle fleet, look no further than our experienced team here at Rigby Financial who will ensure to help you to find a fleet insurance policy that meets your every need, no matter the size or composition of your vehicles.

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    What is fleet insurance?

    If you need to insure more than one vehicle then fleet insurance can be a good option for you.

    Depending on your insurance provider, you can get fleet insurance with just two vehicles, although some providers will have a higher limit for the minimum number of vehicles you need to qualify for a policy.

    Fleet insurance can be beneficial for both small and large companies with a fleet of vehicles as there is typically no upper limit on the number of vehicles you can insure per policy, so it can be used by a through to a large logistical company.

    What does a fleet insurance policy cover?

    You can usually insure many of the same types of vehicles like cars, vans, trucks or motorbikes on their own policy, or you can insure a range of different vehicle types on the same policy.

    In terms of the levels of cover you can take out, they are typically the same levels of cover you can take out on your personal vehicle insurance:

    Third party only (TPO) – This covers the costs of any damage done to other vehicles, property or people involved in an accident with one of your vehicles, however it won’t cover any damage to your vehicle or property leaving you liable for any costs. To drive on UK roads, this is the minimum level of cover you need in your fleet insurance.

    Third party, fire and theft (TPFT) – This offers the same level of cover as that included in third party only cover, but also provides cover in the event any of your vehicles are stolen or damaged in a fire.

    Comprehensive – This provides the highest level of cover for your fleet of vehicles. This provides the same level of cover as third, party, fire and theft and will pay for damage done to your vehicles if they’re in an accident.

    Why do I need fleet insurance?

    If your vehicles are to be driven on UK roads then you’ll need insurance cover for your fleet.

    This can either be done individually per vehicle, or it can be done using a fleet insurance plan.

    Fleet insurance is the best way to cover your business, drivers and vehicles in the event they are involved in an accident, whether it’s their fault or not.

    It’s also much easier to manage than insuring each vehicle individually as you only need to manage one policy, along with having only one renewal period.

    Once you’ve taken out your fleet insurance you can easily add more vehicles to the policy later on if you need to.

    It’s also can be much cheaper to take out a fleet insurance policy than a number of individual policies, meaning you’re keeping more money in your business.

    Finally, having fleet insurance can make your business easier to run because it allows flexibility for anyone connected with your business with your permission to drive any of your vehicles, rather than restricting people to only being insured on one vehicle.

    This means you can more easily adapt your day if a driver calls in sick or you unexpectedly have to switch drivers.

    What businesses need fleet insurance?

    Strictly speaking, any business with more than one vehicle can benefit from fleet insurance.

    However, some businesses more naturally suit a fleet insurance policy.

    If you think your business could benefit from this type of policy, or you’re not sure how it could benefit you, get in touch with us and one of our expert advisors will be able to provide you with what you need to make an informed decision.

    Is fleet insurance only for businesses?

    It’s possible to get a family fleet insurance policy for family use if your household has more than one vehicle.

    But you’ll need to be clear what you need when arranging your policy. Policies of this nature normally are more restrictive in this respect, drivers and use type.

    What type of vehicle cover does fleet insurance include?

    Fleet insurance policies are highly customisable around your business, which means you can adapt and add other types of insurance around your fleet’s policy.

    This can also help to reduce the cost of your overall insurance price if you get a deal through the same provider.

    What doesn’t fleet insurance include?

    Although fleet insurance can be cost effective for your company’s fleet of vehicles, it’s worth noting that there are some things you can get from a personal vehicle insurance policy, that might not be available as part of a commercial fleet insurance policy.

    Some things that might not be included in your fleet insurance deal might be:

    No claims discount

    Fleet insurance is rated on what is termed ‘fleet rated’ which means an underwriter looks at the number and frequency of your claims over a 3 or 5 year picture.

    Theft from vehicles left unattended

    Because company vehicles can often be left unattended for long periods (like when out on deliveries or left on site overnight) many insurers can be reluctant to insure you against thefts from vehicles left unattended.

    If you’re not sure whether you’re getting the level of cover you need, make sure you talk to your insurance broker or insurance provider.

    How much does fleet insurance cost?

    In terms of costs, your premiums will differ from policy to policy depending on the type of business you run, the items, goods or passengers you intend to transport, the performance of your policy over time and the number of vehicles you wish to insure as well as the type of security features each vehicle has and the vehicle management in place.

    You’ll also need to detail the histories of your drivers, as, if they have been legally penalised for any traffic offences in the past, you may find it renders your fleet a little more expensive to insure.

    For these reasons, investing a bit of time into preparing your fleet is well worth it.

    Get the best fleet insurance deal you can with Rigby Financial?

    So, if you’re looking to insure your commercial vehicle fleet, look no further than our experienced team here at Rigby Financial who will ensure to help you to find a fleet insurance policy that meets your every need, no matter the size or composition of your vehicles.

    Not only will our experienced client executives search for the most comprehensive level of cover to protect your assets, we’ll also hunt down the best possible premium.

    For further information, just call our experienced team of insurance brokers today on 01744 886077, or use the handy contact form on our website for further information and to see how we can assist and advise you in your search for the perfect business fleet insurance cover.

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