What is fleet van insurance?
Fleet van insurance is a type of cover you can take out if you have multiple vans you want to insure. This can be useful for business owners with several vans that need to be insured if you want to avoid dealing with several separate policies or providers.
How many vans can be included in a fleet?
The number of vans you can cover with a single fleet policy will depend on the provider you choose. However most will generally have a minimum and maximum number of vans – the maximum could be hundreds or even thousands of vans.
What types of van can be included in a fleet?
Most providers will let you cover a variety of van types, such as:
- Pick-up vans
- Tipper vans
- Box Luton vans
- Light vans
- Vans with single or double cabs
Some even have an ‘any vehicle’ policy as part of a general fleet insurance deal, however it’s always a good idea to check with the insurers beforehand for the specifics of what the cover will apply to. This way you’ll know if you’ll be covered before taking the policy out.
What can I use my fleet for?
Fleet van insurance providers usually offer a range of business uses, including:
- Haulage and courier: Haulage and courier business insurance covers you for long-distance transportation of goods
- Hire and reward: Business van insurance for hire and reward is usually for one off jobs such as furniture removal
- Carriage of own goods: A carriage of own goods policy insures you for driving your van while carrying your own business items
What does fleet van insurance cover?
The coverage you’ll get from a fleet van insurance policy will depend on the level you choose to take out. Like with car insurance, you’ll be able to choose from:
- Third party: This covers you for the cost of any damage you do to another person, their vehicle, or their property. It won’t cover the cost of damage to your own van
- Third party, fire, and theft: This includes everything covered by third party insurance, as well as cover for if your van is stolen or damaged by fire
- Fully comprehensive: Fully comprehensive cover includes all of the above plus any other kind of damage to your van – as long as it’s mentioned in your policy
What policies can you add to fleet van insurance?
Depending on the provider, you should also be able to cover your fleet of vans for one or more of the following:
- Breakdowns: If your van(s) break down you’ll be given assistance to help you get back on the road
- Replacement vans: You’ll get a courtesy van to use while yours is being repaired
- No claims discount protection: If you have to make a claim it won’t affect the price you pay for cover in the future
- Use abroad: You’ll be able to use your van(s) abroad – however it’s worth nothing that after Brexit you may need to carry a green card while driving in Europe
- Employers’ liability: Employers’ liability insurance covers you for any compensation costs and legal fees you might have to face if an employee becomes ill or injured as a result of the work they do for you. If you have one or more employees this is a legal requirement
- Public liability: Public liability insurance covers you for legal costs that might arise if you or your business are responsible for injury to a third party or damage to their vehicle or property
- Windscreen cover: This covers the cost of damage done to your windscreen, for example if it cracks or shatters
- Personal accidents: This can cover you for any medical costs or give you compensation if you’re injured as a result of being involved in an accident
- Trailers: This means you’ll be covered for driving your van with a trailer attached
How much does fleet van insurance cost?
The premiums you’ll pay to cover your van fleet will depend on several factors:
- Your drivers: If your business employs drivers, choosing older, more experienced drivers or those with clean records can help reduce your premiums. If you do have younger drivers, reducing the mileage they’ll cover and making sure they only drive during the day can also help cut the cost of cover – you could even take out a telematics policy
- Your vans: Smaller and less powerful vans are generally seen by insurers as safer to drive, which means they’ll likely reduce your premium. The same can be true for hybrid or electric vans
- Your security: Installing immobilisers and keeping your vans in a garage or locked car park with CCTV can reduce the risk of your vans being stolen, which can also help lower your premiums
- Your claims history: if you’ve got a history of previous claims it could result in insurers seeing you as a high risk of claiming again in the future, which means getting cover might be more expensive
- Your policy: Your premiums will be more expensive if you include extras such as replacement vehicle or trailer cover. Some extras can be important – for example, if your business is heavily reliant on your van fleet then a breakdown cover policy can help ensure you can keep things running as normal. You should consider whether you need any extras, as otherwise you’ll be spending money for a cover you won’t actually need
- Your excess: insurers often let you pay an additional excess fee, known as voluntary excess, and the more you pay the lower the cost of insurance is likely to be
Things to consider when taking out a fleet van insurance policy
Like any insurance policy, it’s important to weigh up the pros and cons before making a decision. Before taking out a fleet van policy, consider:
- Time saver: Taking out a fleet van policy can save you from having to deal with multiple policies, possibly from multiple providers. There’ll only be one renewal date, and all your vans will have the same level of coverage
- Any driver: If you employ several people who’ll be driving the vans, many fleet policies include coverage for any drivers so they’re able to drive any van in the fleet
- Bad drivers: However if one or more of those drivers have a poor driving or claims history, the overall premiums of all your vans covered by the policy may go up
- Changing vehicles: With large fleets you may find that you occasionally change vehicles – if you don’t update your policy when your vehicles change, your cover may be invalidated