If you started out with one or two vehicles and built up your fleet over time, you will have taken out insurance at different times.

You need insurance to cover your fleet, it goes without saying. What is worth considering, however, is how to go about organising it. Should you insure each individual vehicle, or can you group them together?

The result of building over time is that a business could be left with a cluster of insurance policies, all due to expire at different times and potentially costing different amounts. With this set up, it’s easy to see how something might slip through the cracks. It could be worth consolidating them into one policy.

As with regular car insurance, different policies will offer different levels of cover. A third-party insurance policy for a fleet of vehicles will cover the cost of any damage done to others in an accident, but no cover for your driver or your vehicle.

There is also a third-party fire and theft option, and finally a fully comprehensive cover that would cover you for all of the above, plus any damage sustained to you.

Some polices will cover extra things, and you need to make a list of what you need your policy to cover to make sure you have all the protection you need.

The more protection you have, the more expensive it will be. Try shipping around and using price comparison sites.

If you’ve found this article useful then make sure you visit our complete A-Z of business fleet terms, which provides a complete glossary so you can make an informed purchasing decision.

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