Cover for your family fleet

Children in the back of a family car

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Is there more than one vehicle parked outside your house? You might not think of yourself as running a fleet of vehicles, but it’s not unusual these days for a household to have three or more cars. You and your partner might each have a car, for example. Then there’s the runabout for your son or daughter. Plus, the classic car, motorcycle, horse box or even camper van for the weekends. It can soon get pretty crowded. It can also be expensive (and administratively demanding!) to insure several vehicles on separate policies. Which is where family fleet or multi-car insurance can help.

All in the family

Family fleet insurance works in much the same way as standard cover, except you take out just one policy for several vehicles. Plus, you get a discount for insuring multiple cars. The savings vary from insurer to insurer, but you could be looking at about 20% off what you would otherwise spend.

The numbers game

Multi-car policies typically cover between two and five vehicles – and, generally, the more vehicles on the policy, the bigger the discount. Most insurers insist all the vehicles involved are registered to the same address, but they can include cars, vans, motorcycles and campervans. Anything, really, except commercial and company cars.

Flexible friends

The cover can be pretty flexible. For example, you might want to cover one car for travel abroad, but not another. Or you might choose to opt for third party, fire and theft for a car with little value and comprehensive cover for the more expensive car. You can also apply different excesses to different vehicles.

Driver details

Family fleet insurance policies cover any named driver. You can include all members of the household, and some policies will also insure a motorist at a different address, perhaps a child who is away at university. The drivers don’t have to be family members, but there might be a minimum age, often 21 or 25, as insurers aren’t fond of young drivers. Just make sure you read the small print carefully to find out about the no claims bonus. Named drivers are usually allowed to accumulate their own no claims discount (NCD) in case they want to take out their own policy in the future. However, in some cases they might have to stick with the same insurer in order to benefit from the NCD.

Clear advantage

The advantages of family fleet cover are clear. You only have to worry about one set of paperwork and one renewal date. All drivers should also be able to earn a discount if they don’t make any claims.

Budget buster

But multi car insurance is not without its downsides. A single renewal date for several cars can punch a pretty big hole in your household budget. Also, a family fleet policy for, say, three cars is not necessarily cheaper than three separate policies. It’s therefore a good idea to compare quotes before you buy.

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