What is fleet insurance?
If you're a business owner who has a fleet of vans, cars or both, you can take out fleet insurance to cover all of your vehicles rather than taking out individual policies for each saving you money.
Fleet insurance does not apply for personal use. If you need to drive multiple vans for personal use then you can shop online for multi van insurance.
What is covered?
When you take out fleet insurance you, and anyone named on the policy, can drive your business vehicles.
Plus if you give permission for someone else to drive your vehicle then your policy will protect them getting in, getting out or driving your vehicle, as long as they have a valid licence in line with your insurers terms and conditions.
You will need to find the right level depending on how you intend to use your vehicles.
Here are the main aspects to consider:
How many vehicles are covered - There is no maximum number of vehicles permitted on van fleet insurance. As long as you submit the details for each vehicle the insurer will offer cover but each will affect the price offered for your overall policy.
Maximum weight - Depending on which insurer you choose, the maximum weight, including carried goods, must not exceed 7.5 tonnes gross per vehicle. Most insurers will offer a maximum of 3.5 tonnes so make sure you pick the correct cover for your vehicle. Exceeding the maximum weight will nullify your insurance if you need to claim on that particular vehicle.
Vehicle purpose - You will need to specify the purpose of use when you take out fleet insurance. If you use your vehicles in a way that isn't specified to the insurer, for example racing, you will not be covered.
Carrying goods - When carrying goods in your vehicle, it is important to note that if they are for business use they will not be covered unless you take out tool in van cover. This is a unique extra on any fleet van insurance and will be a like-for-like.
What to look out for?
There are exclusions to consider when taking out fleet van insurance, for example you will not have cover if your vehicle is:
Carrying more passengers or holding a greater weight than it was design for.
Not roadworthy at the start of a journey.
Being driven unreasonably or on unsuitable terrain.
If you need to tow trailers they will only be insured if being towed by one of your vehicles. Having a vehicle worthy of towing a trailer does not make it legally allowed to tow automatically so make sure cover can be given.
If you drive overseas, you will need to make sure your insurance will permit it, if this isn't included you may be able to upgrade for an extra cost.
What are the hidden charges?
If you increase your vehicle excess to a higher amount you can reduce the cost of your fleet van insurance. Be cautious though as doing this could leave you forking out more overall in the event of a claim.
If you choose to cancel your policy at any point throughout your 12-month contract you will sometimes be able to do so with a percentage refund applicable to the time you had been in your policy.
If you remember that a fleet insurance quote will cover both vans and cars you will save money if you require both.
Understanding the type of commercial fleet van insurance you need is the first step, next you can search online and compare the best prices and cover for your business needs.
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