Fleet Insurance For Small Business

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A Guide to Small Business Fleet Insurance

Small business fleet insurance in the UK is a type of insurance specifically tailored for startups or small businesses. 

In order to get the best deal on fleet insurance for a small business, it is important to start by comparing quotes from a wide range of providers

We can provide you with access to a range of small business fleet insurance quotes from a panel of UK fleet insurance brokers that are able to tailor polices to you or your business's individual requirements.

  • Tailored Polices : Polices can be tailored to your unique removal business requirements
  • Save time – Small motor fleet insurance will save you a great deal of time when insuring multiple vehicles since everything is under one easy-to-manage policy.
  • Save money – A fleet insurance policy for a small busiess can also save you a good amount of money since it’s usually cheaper than insuring the vehicles under separate policies.
  • Great for Start-Ups or Small Business – If you are a startup or a small business that has 2 or vehicles or more, then small fleet insurance is a great way to keep costs to a minimum.

What are the the levels of cover available?

There are three major levels of cover for business fleets, which includes:

  • Third Party Only : This is the legal minimum. Third-party-only insurance will offer protection for damages you causes to the third party vehicle or property 
  • Third Party Fire and Theft : This level of cover includes third party only, plus additional coverage for any damage to your small business fleet caused by fire or theft.
  • Full Comprehensive : The highest level of insurance, which includes everything in the previous cover levels plus protection for damages to your own fleet, even if you are responsible.

Insurers providers will also offer you the option of adding on extra features to increase protection, these are optional. Popular add-ons include:

  • Breakdown Cover : If your fleet vehicles are new, they may already have breakdown cover included in the first 2 or 3 years. 
  • Uninsured driver promise : This cover will protect your no-claims discount and reimburse any excess reimbursed if you’re involved in an accident with an uninsured driver.
  • Goods in transitinsures any goods you are delivering or transporting.

It's important to carefully review your small business fleet policy and ensure that it adequately covers your vehicles, operations, and potential liabilities. Any limits, constraints, deductibles, and exclusions should be clearly understood to avoid any surprises in the event of a claim.

How can I reduce the cost of business fleet insurance for a small business or new business?

It is possible to take steps to lower the cost of your business fleet insurance policy. We have outlined a few areas that could be reviewed in order to pose less of a risk to the insurance provider and thus lower your premiums.

  • Keep vehicles Secure: Take steps to keep your vehicles secure. This is one of the best ways to save money on fleet car insurance for a small business. It greatly reduces the risk of your vehicles being stolen or vandalised and therefore providers can offer you a lower price. 
  • Drivers: You may find that any perspective insurance company will insist on experienced drivers that have a verified history of safe driving,. 
  • Implement Regular Training : Accidents happen, if you notice a trend consider the cause and implement training or take action to promote a higher degree of driver responsibility. 
  • Voluntary Excess amount :  Increasing this amount should provide significant savings. Speak with your broker on this option.
  • Over 25 : Restrict your cover to drivers over 25Policies that are strictly over 25 will be cheaper than an over 21 policy.
  • Named Only: Type of policy, named, or any driver and driver restriction imposed in the policy.
  • Multiple Quotes : Like any purchase, you will need to do some upfront research to help find the best quote that meets your requirements and is also affordable. 

How much does fleet insurance cost for a new business?

The cost of fleet insurance cover is dependent on your individual business needs as most business will be different, it is unrealistic to give one fixed cost. To work out the cost, the insurance companies will take a number of factors into consideration, for instance

  • How many vehicles in the business fleet.
  • Level of cover required.
  • Type of fleet policy schedule any driver fleet insurance working out significantly more expensive, than named drivers.
  • Optional extras that you choose
  • The fleet excess amount, the amount the business will accept responsibility for in the event of a claim against the policy
  • How the vehicles will be used, or usage is an important factor in determining final cost, example car rental business insurance will pose more risk and result in higher costs than company car policy.

Time to get multiple quotes for your small business or new business?

We can provide multiple quotes for your small business fleet or mini fleet. Simply click the Get Quotes option below and fill in a quick form to get access to multiple quotes. Then all you have to do is pick the best one!

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Small Business Insurance FAQs

Will I get discount if I add more vehicles to my Policy

This is one of the attractions of opting for fleet cover, as most if not all providers offer discounts if and when you add additional vehicles to the policy schedule.

Can I get business fleet insurance for 2 vehicles?

Yes, most provider will insure fleets with as little as 2 vehicles, especially if you are a small business, new venture or a start-up.

Can I add a vehicle for occasional business?

A fleet policy can be tailored to include ‘Occasional Business Use’ . This clause will provide cover for your employees’ own vehicles if they do not have a company vehicle or if they are not able to arrange this cover under their existing policy.

Will small business fleet cover work out cheaper than standard car insurance?

A Fleet policy is designed to work out cheaper than insuring your vehicles under separate polices, and you will have the added benefit of less administration. That being said, it is always important especially for smaller fleets to compare the 2 options as sometimes the traditional route can turn out to be the cheapest option.

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