With new risk-management tools and a new approach, we are taking fresh look at the motors risks facing our clients.
Motor Fleet Insurance
Motor insurance is one of a few classes of insurance which are compulsory in the UK. This has meant that for some its placement has become a brief, transactional function at the end of the renewal, rather than treated in the same way as other risks like property. We believe this approach is wrong and that motor risks need to be managed and mitigated before any approach is made to the insurance market. We also believe these risks are better served by viewing them strategically over a number of years, so that the effect of external risk mitigation tools can be measured against claims performance. It’s not rocket science – it is simply giving the risks appropriate focus and strategic thought rather than relegating them to a footnote at the end of a renewal discussion.
Types of Cover
The following vehicles can be covered all together under one policy:
• Special type vehicles and mechanical plant
• Agricultural and forestry vehicles
• Large goods vehicles (LGVs)
• Private cars
Although motor fleet policies are more flexible and can encompass a larger array of vehicles, the same general range of covers, listed below, is available to fleet operators as private individuals:
• Third party only policies are legally required in the United Kingdom and only protect against injury, loss or damage to third parties.
• Third party fire and theft policies extend fire and theft cover to a third party only policy.
• Comprehensive policies come with a higher excess but substantially protect vehicles owned by your business or in its custody from accidental damage.
Excess amounts across all three categories of cover will vary depending on the type of work your business does and its level of risk. We can work with you to write a bespoke policy that addresses your business’ specific risks. Get in contact today.
Because a fleet can consist of five or 5,000 vehicles, motor fleet policies typically offer a more expanded selection of extensions than standard motor policies to accommodate all types of fleets. The following extensions may be available as part of a fleet policy:
• Replacement locks following loss or theft of keys
• Vehicle recovery and redelivery
• New vehicle replacement
• Occasional business use
• Replacement locks
• Personal accident
• Medical expenses
• Personal effects
• Legal protection
This list is not comprehensive. It represents just a few of the scores of extensions available to motor fleet policy holders.
To find out more about our Services please contact our team today on T. +44 (0) 204 505 3573 or fill out the form below: