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Businesses which have company cars can make significant savings on the car insurance by having all cars included in a single fleet car insurance policy.

Not only is fleet car insurance cheaper than insuring individual cars it can also save costs on administration charges. Fleet insurance can be arranged for both small and large companies, with insurance available from three or more cars. The number of cars needed to qualify for fleet insurance differs between insurance companies, therefore those who have fewer than three cars may still be legible for fleet insurance depending on the insurance company.

In the UK the cost of car insurance is dependant on a number of factors. All cars fall into different classes of insurance. The insurance companies use the class of car to calculate the insurance premiums by taking into consideration performance capabilities, engine size, repair and parts costs. High performance cars are considered to be a greater insurance risk due to speed and performance capabilities than cars with smaller engine size. The higher the class number the more expensive the insurance will be. The most cost effective fleet cars to have insured are those with low maintenance and repair costs.

Company cars are historically given as employment bonuses, with directors and managerial staff being offered high performance cars. These can also be catered for within fleet insurance policies, although the more high performance cars included on the policy the higher the fleet car insurance will be.

Many insurance companies will transfer no claims discounts earned on non-fleet cars which will help to lower the premiums and is great news for expanding businesses. Protecting a no claims bonuses by paying an additional fee is also available from some insurance companies. Schemes like these allow you to make a certain number of claims before your no claims discount it affected.

Fleet car insurance does have some restrictions on the age of the drivers. Usually drivers over the age of twenty five are included, younger drivers can be included on the policy but you will have to pay additional costs.

Driving convictions and driver’s no claims discount will be required by the insurance companies in order for them to calculate a quote and provide cover for all drivers.

Specialist fleet car insurance companies can provide significant savings on insurance premiums. Businesses who have or are willing to introduce measures to reduce the risk of accidents in their fleet such as risk management programmes and driver training courses are rewarded with discounts on their annual premiums, as safer driving usually means few claims.

Fleet car insurance is available as Third Party Only, Third Party Fire and Theft and Comprehensive insurance. Insurance brokers or companies will advise as to which type of cover is most suitable for your car fleet.

It is worth spending time shopping around or getting an fleet car specialist insurance broker to act on your behalf, to find the most competitive quotes available. Cheapest is not necessarily best, many cheap fleet car insurance deals will have additional costs for things that other slightly more expensive quotes include. For example some insurance companies will include courtesy cars following an accident, roadside recovery and home-start options as part of their comprehensive insurance policies.

Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
fleet insurance

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