When do I need to switch my business car or van insurance to fleet operator’s insurance?

For growing businesses, this can be a key question.

Most small businesses such as builders, florists, plumbers, electricians, and Haulage firms start out with one or two cars or vans.

Slowly, the business grows – and before you know it, you have 4, 5, 6 or 10 cars or vans.

Paying for single van insurance on each of them can be costly.

So, when do you switch? Here’s our handy guide…

Who benefits from fleet operator’s insurance?

You could benefit if you have three or more vehicles in your control.

For businesses with 10 or more vehicles, switching to fleet operator’s insurance is a no-brainer.

With the cost of single van insurance going up to £850 a year for one van, for example, you could save hundreds of pounds.

If people within your business drive more than one vehicle, a fleet policy is very useful. This kind of policy gives your company flexibility.

Take the example of taxi drivers or delivery drivers who may switch between vehicles regularly.

Having an ‘any driver’ policy might be really beneficial for your business.

Does your business have named drivers with company cars? A fleet policy could still be the best option for you. This applies to companies with field sales teams, for example.

Fleet insurance is useful for:

• Florists
• Trades people such as builders and electricians
• Haulage firms
• Care companies
• Utility providers
• Cleaning companies
• Companies with sales representatives in the field

How much money could I save?

Each quite will be individual to your needs, but fleet van policies can go as low as £450 a year, for example. That’s a considerable saving if you’re paying £850 per annum on a single van insurance policy.

How can I get the right cover for my business?

Talk to an independent insurance brokerage, such as Severn Bay, which has access to the whole of the market.

They aren’t tied to specific financial products so can find you the best fit for your business.

Give your broker as much detail as possible about how you and your staff use the vehicles, how and where they are kept overnight, what security measures are in place on them and their storage areas, and how they are maintained.

This will help your broker get a policy which tailored to your business.

Why choose Severn Bay Corporate Solutions?

• We’re not tied to specific financial institutions or companies, so we can find the best deal for you
• We have access to the whole of the market, including new insurance products
• We have years of experience, particularly in dealing with fleet insurance.

Need advice? Our Severn Bay team of fleet insurance specialists is here to guide you on the right products to ensure you’re protected. For more information please contact us on 029 2047 0375.