Motor Fleet Insurance

Motor Fleet Insurance

Having one of your company's vehicles off the road can cause significant disruption to your operations.

Motor Fleet Insurance provides a coverage option for your business' motor vehicle or collection of vehicles without having to insure each vehicle individually.

This type of policy is suitable for a range of different vehicle types and motor fleet sizes meaning you can manage all your business vehicles under the one policy saving significant time on administration.

Do I need Motor Fleet Insurance?

Your business might need motor fleet insurance if you operates multiple vehicles as part of your business operations. Fleet insurance is designed to cover a group of vehicles under a single policy, offering convenience, potential cost savings, and comprehensive protection tailored to your business's needs. Talk to your broker about how a Motor Fleet Insurance policy could benefit your business if any of the below points apply:

• You own or lease multiple vehicles (typically three or more). Generally, if a business owns or leases multiple vehicles (typically three or more), fleet insurance becomes more practical and cost-effective than insuring each vehicle separately.
• You operate various types of vehicles Businesses with a mix of vehicles (e.g., cars, vans, trucks, utes, or specialised vehicles) may benefit from fleet insurance, as it can provide tailored coverage for different types under the one policy.
• You have multiple drivers per vehicle If multiple employees or contractors regularly drive business vehicles, fleet insurance simplifies coverage compared to insuring each driver individually.
• You have additional risks to Cover Fleet insurance can offer broader protection, including third-party liability, damage to vehicles, and coverage for goods in transit.
• You want streamlined administration Businesses looking to reduce administrative burdens can benefit from a single renewal date, uniform terms, and centralised claims management through a fleet policy.

What does this Insurance cover?

Coverage for your vehicle with a range of different options such as:

• Comprehensive insurance
• Fire, theft and third party property damage
• Third party property damage only

It also contains additional benefits tailored specifically for businesses including automatic additions and deletions, sign writing, greater driver flexibility and higher legal liability limits.

Important Tips

• It is generally better to keep all of your vehicles under the one policy to lower your overall premium costs.
• Higher excesses can lower premiums but may increase out-of-pocket costs during claims. Balance this against your risk appetite and cash flow.
• Consult with your broker to choose an insurer known for efficient claims handling to minimise downtime after an incident.
• Implement and enforce robust driver safety programs to reduce incidents and improve your risk profile.