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Authorised and Regulated by the Financial Conduct Authority. Ref 786631. ABA Insurance Commercial Ltd & ABA Commercial Insurance Ltd Company Registration No.10778761 Company Registration No. 09148855

63 Pelham Road South, Gravesend, Kent, DA11 8QS  |  Gill House, 140 Holyhead Road, Handsworth, Birmingham, B21 0AF

ABA Blog

Motor Fleet Insurance

July 5, 2018

What is Motor Fleet insurance?

Similar to regular car insurance motor fleet insurance is designed with business’ in mind. Motor fleet insurance covers multiple vehicles all on the same policy. It can include all vehicles such as cars, vans, HGVs, trailers, mini buses, coaches and more. There are many industries that benefit from Motor Fleet polices including the Haulage, Transport and the Construction industries. This is due to the flexibility of managing the fleet, cover and the premiums offered by insurers. Motor fleet insurance is available in 3 levels of cover including Comprehensive, Third Party and Fire and Theft Third Party Only.

 

How does Motor Fleet insurance work?

Fleet insurance can be taken out if your business has 2 or more vehicles, the policy can cover any driver or can be fixed to named drivers for certain vehicles. The main advantage of fleet insurance over covering each vehicle individually is having all vehicles under one policy making it easier to keep track of when renewing or making changes. Fleet insurance can be cheaper than individual vehicle insurance as most insurance brokers will often give discounts based on healthy performing claims history.

 

Levels of cover explained:

 

Third Party Only – The most basic level of cover, third party only cover protects you against damages or claims made against you or your business by any third parties to their vehicles or property. Third party only does not protect your own vehicles against any damage or theft.

 

Fire and Theft Third Party Only – The second level of cover it protects you against damages or claims against third parties in the same way as third party only but also protects your vehicles against theft and fire.

 

Comprehensive – The maximum and most popular level of cover, comprehensive cover protects your vehicles against any of the incidents above plus covers your own vehicles even if the incident is deemed to be your fault.

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