What is fleet insurance?
Fleet insurance is a business’s insurance aimed at companies with two or more vehicles. It makes it possible to insure multiple vehicles and vehicle types; including cars, minibuses, trucks, HGVs and vans on a single insurance policy. This is vital for any business that uses 2 or more vehicles, especially when the vehicles are dedicated or used mostly for business use. An insurance policy covering a fleet can save a business up to thousands of pounds compared to insuring vehicles individually. Keeping track of which vehicles are insured can not only be time consuming but also potentially a legal nightmare, which is why the flexibility of this cover is essential and the easiest, most viable solution to any business operating multiple vehicles. Grosvenor Insurance Brokers are aware that our fleet clients require bespoke insurance, which is why we can also look include cover for trailers, foreign use, hazardous goods, liabilities and legal expenses; dependent on the risk.
Who can drive on a fleet Insurance policy?
Most fleet policies are usually arranged on an ‘any authorised driver’ basis which allows any person to drive any vehicle (subject to exclusions) with the permission of the business and/or directors. This also means that you do not have to update your whole policy every time you employ a new driver. Drivers outside of the stated criteria (for example young drivers), if specified and agreed with the insurer, will usually have an increased excess applicable. It gives you the flexibility to keep your business moving with minimal hassle.
Can I get fleet Insurance for my family?
Our Fleet Insurance product is usually designed for commercial motor fleets belonging to an operating business however, we can look to provide quotations for family-owned fleets dependent the risk as a whole.
How many vehicles do I need to get fleet insurance?
While some insurers may require 4 or more vehicles to form a fleet policy, some will offer this insurance for businesses with as few as 2 vehicles.
Will fleet insurance save me money?
Fleet insurance will often be the most cost-effective option compared to multiple individual policies however; this depends on many criteria’s. Also, if you insured a single vehicle and it had a large claim, insuring that vehicle in the future may prove difficult however, insurers can be more forgiving over a single claim on a large fleet policy as it represents only one part of the overall policy. You may even be able to obtain discounts on your fleet insurance by being selective about your drivers (their ages, motoring convictions and experience), your parking location or adding additional security or tracking devices to your vehicles.
What is goods in transit Insurance?
Goods in transit insurance is cover that protects the goods that you carry. It is particularly important when a business carries goods that are significant to their business or someone else’s or high in value. The main category that goods in transit insurance is applicable to is carriage of goods for hire & reward – where a business is paid to carry goods belonging to a third-party business or individual and receives a form of payment for this service. There are many different conditions of carriage within which you must specify how much cover you require, if not the standard level.
What does goods in transit Insurance cover?
As the name suggests, goods in transit insurance covers goods being carried by vehicles. This cover usually includes theft, loss or damage whilst in transit however, cover will very rarely extend to before the goods have left the depot or after they have been delivered. Goods in transit insurance is a dedicated, separate insurance type from standard commercial vehicle or fleet insurances. Simply, vehicle insurance provides cover for your vehicle and goods in transit covers the items being carried inside your vehicle.
How we can help you
At Grosvenor Insurance Brokers, we understand that selecting exactly the right insurance from the right provider can be a complex and daunting task not to mention, time consuming! Our specialist Account Executives are on hand to guide you through each step and find a motor fleet insurance quote and policy that is right for you and your business. Our Motor Fleet Account Executives will negotiate on your behalf with a panel of highly established and secure industry leaders who offer the correct product that meets your needs. We will find you the best policy for your business, tailoring the cover to exactly meet the size and requirements of your fleet.
Please contact our in-house Motor Fleet Account Executive on: Laura@grosvenor-insurance.com / 01244 324 891 or visit https://www.grosvenor-insurance.com/motor-fleet-insurance/