Exchequer Risk Management
No.3 Siskin Drive, Coventry, CV3 4FJ
Opening Hours: 8:30am - 05:30pm

Fleet Insurance

Fleet insurance provides cover for multiple vehicles within a business.

01

Vehicle Cover

Fleet insurance covers multiples vehicles. The vehicles can be registered in the company name, partner or director of the company, allowing one policy to cover your whole business.

02

Efficient

In the long run, fleet insurance will save the headache when trying to renew multiple vehicles as it will all be protected under one policy rather than multiple.

03

Safety

It is essential that all vehicles are insured for safety and reliability concerns, especially if you rely heavily on using vehicles to provide a service for your business or company.

What is Fleet Insurance?

Fleet insurance is a type of insurance that covers multiples vehicles. The vehicles can be registered in the company name, partner or director of the company, allowing one policy to cover your whole business. In the long run this will save the headache when trying to renew, and you could end up saving you money on your vehicle insurance.


You can cover a mixture of vehicles, but if an insurer has an ‘any vehicle’ policy, it’s worth checking what specific vehicles are covered. Occasionally vehicles like motorbikes, forklift trucks and excavators are excluded. As well as this, a range of business uses are covered, including:

  • Haulage
  • Carriage of own goods
  • Business use of the insured
  • Social, Domestic and Pleasure

What does fleet insurance cover?

Depending on the type of policy, you can find cover for:

  • Employer liability cover
  • Trailer cover
  • Courtesy car extension
  • Public liability
  • Goods in transit cover
  • Tools cover
  • Breakdown
icon Who can benefit from fleet insurance?

Fleet insurance is available to businesses that lease or own at least two vehicles. Moreover, any industry can get fleet insurance but depending on vehicle purpose you may be required to get a specific kind of insurance. For example, construction companies will need to get either public hire or private hire ‘ fleet insurance’.

Equally, any driver can be included as long as they are permitted by the company/directors. This is because the insurance policy is typically issued on an ‘Any Authorised Driver’ basis. However, you may find your premiums increase when covering young or previously convicted drivers.

For more information, talk to our team of Experts

What types of cover does fleet insurance provide?

Just like standard car insurance, fleet insurance is available in three different levels of cover. These are:

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Comprehensive

covers any damage to both your own and/or third party vehicles as well as any injuries to you, your passengers and third parties from a fault or non-fault accident.
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Third party fire and theft

covers any damage to third party vehicles while also covering your own for fire and theft.
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Third party only

covers only damage to third parties, including any damage to other people’s property/vehicles, plus any injuries to others and your passengers.

Policies vary from provider to provider on what they do and do not permit, so make sure to check your policy for any significant exclusions, such as personal use, before signing.

How much does fleet insurance cost?

While it can be difficult to determine the cost of fleet insurance, there are a number of influential points that you should be aware of, including both business specific and vehicle details.

Business specific factors

Both the industry you operate in and the business procedures you have in place can have a significant impact on the cost of your fleet insurance.
For example, if you work in a higher risk industry such as courier or taxi services, then your premiums are likely to be higher. This is because the high mileage, frequent vehicle use and the need to arrive on time, all suggest riskier driving.
Equally, if you don’t have a procedure in place to manage your fleet then that too can increase your premiums. Making numerous small claims and not properly vetting drivers demonstrates higher risk to insurers as it suggests that an accident is more likely to occur.

Just like with traditional car insurance policies, there are a number of general factors (such as vehicle age, mileage, location, etc.) that will impact the cost of your overall fleet insurance. This is because the risk of each vehicle is assessed individually and combined to provide the overall risk.

What are the benefits of fleet insurance?

From the ability to lower insurance premiums for your vehicles, to reducing office admin, taking out fleet insurance offers businesses a range of attractive benefits, in addition to peace of mind:

Insurance to cover all business vehicles

With fleet insurance you can insure every vehicle in your company’s ownership on just single policy, regardless of vehicle type. This means that even mixed-use vehicles can be insured together, without the need to take out individual policies for every vehicle in your fleet.

Insuring every vehicle in your fleet on the same policy means you only have to deal with single policy renewal date. This is especially beneficial in businesses with a large number of vehicles on the road as it significantly reduces admin time, freeing up resource to focus on other areas of your business.

Choosing to take out fleet insurance can work out affordable than individually insuring vehicles within your fleet. If one of your vehicles is involved in an accident, an insurer may choose to spread the cost of any claim made across all vehicles, subsequently lowering the premium you pay.

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