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If your business relies on cars, vans, or commercial vehicles to keep things moving, you’ll need the right insurance in place so things don’t grind to a halt if something goes wrong. It doesn’t matter if you're just managing a handful of company vans, or if you have an extensive fleet that operates across Milton Keynes and beyond - fleet insurance can provide a simple, cost-effective way to protect your vehicles, drivers, and business.
At EIC, we’ve been helping businesses across Milton Keynes and the home counties with their insurance for decades. No matter the number of vehicles you manage, we can assist with your fleet insurance.
What is fleet insurance?
Fleet insurance allows you to insure multiple vehicles under a single policy, rather than having to arrange separate insurance for each vehicle. Depending on the insurer and the policy criteria, fleet cover is often available if you operate just two vehicles, making it ideal for SMEs too.
A fleet policy can cover many types of vehicles, including:
- Company cars
- Commercial vans
- Light goods vehicles
- Specialist trade vehicles
- Mixed fleets of cars and vans
Why businesses choose fleet insurance
If you’ve managed multiple vehicle insurance policies before, you’ll know that it can quickly become time-consuming. Different renewal dates, varying levels of cover, and separate documentation can all create administrative burdens that busy businesses just don’t need.
Fleet insurance, on the other hand, simply combines cover for multiple vehicles into a single policy. This can offer advantages such as:
Reduced administration
Instead of managing multiple insurance policies and renewal dates, you’ll only have one policy to think about and oversee. This can save you valuable time, while reducing the risk of you overlooking important renewals.
Greater flexibility
Many fleet policies allow you to add or remove vehicles throughout the policy period. This makes them especially suitable for if your company is growing or changing requirements.
Potential cost savings
Insuring multiple vehicles together can sometimes be cheaper than purchasing individual policies for each vehicle. While premiums will depend on several factors, fleet insurance can often be more efficient if you operate several vehicles.
Which businesses benefit from fleet insurance?
Commercial fleet insurance can be valuable for a wide range of industries. Some of the types of businesses that commonly benefit include:
- Construction companies: Builders, contractors, and construction firms often operate multiple vans transporting tools, materials, and staff between sites.
- Electrical and plumbing contractors: Trades businesses frequently rely on vehicles to deliver services.
- Delivery and courier companies: Businesses involved in local deliveries or regional distribution require dependable fleet cover to keep their operations moving.
- Facilities management businesses: Companies that go between multiple client locations often depend on vehicles for engineers and support teams.
- Care providers: Community care services often operate fleets of vehicles for their staff who visit clients.
- Engineering and technical services: Engineering businesses regularly use commercial vehicles to transport equipment and people to sites.
- Sales teams and professional services: Businesses with company cars used by field-based employees can benefit from comprehensive fleet insurance arrangements.
What can a fleet insurance policy include?
Every policy is different, and getting tailored advice is important. Depending on your business requirements, fleet insurance may include:
- Comprehensive cover: This provides protection for your vehicles as well as liability for damage caused to third parties.
- Third party, fire and theft cover: This offers protection against third-party liabilities, fire damage and vehicle theft.
- Any driver or named driver cover: You can choose between policies that insure specific named drivers or, in some cases, drivers who meet agreed criteria.
- Windscreen cover: This can help to cover repair or replacement costs for damaged windscreens.
- Courtesy vehicles: Some policies may provide temporary replacement vehicles while repairs are being carried out.
- Breakdown assistance: Depending on the insurer and policy selected, breakdown support may also be available.
Understanding the risks of operating multiple vehicles
Businesses that operate several vehicles face a variety of risks every day.
These may include:
- Road traffic accidents
- Vehicle theft
- Damage whilst parked
- Windscreen damage
- Driver error
- Vehicle downtime affecting customer service
- Increased costs resulting from uninsured incidents
These risks can result in significant disruption and operational challenges that could be costly. Having the right insurance policy in place can help to provide reassurance that your vehicles and drivers are protected when the unexpected happens.
Why one size doesn't fit all
No two businesses operate the same way – for example, a courier company with dozens of vehicles will have very different insurance requirements from a local plumbing contractor managing just three vans. Likewise, a company with experienced drivers may have different risk considerations when compared to a business that employs younger drivers.
This is why tailored fleet insurance is so important, and a policy should reflect:
- The type of vehicles
- How the vehicles are used
- Driver profiles
- Areas of operation
- Claims history
- Business growth plans
The benefits of using a fleet insurance broker
The fleet insurance market can be complex, with different insurers offering varying levels of cover, terms and pricing structures.
Working with an experienced fleet insurance broker can simplify the process of purchasing cover, and businesses can benefit from:
- Access to a range of insurance providers
- Advice tailored to their industry and vehicle usage
- Support reviewing existing cover
- Help identifying potential gaps in protection
- Competitive quotations from suitable insurers
- Ongoing assistance throughout the policy term
A broker's role is to understand your business and help you find cover that meets your requirements without paying for unnecessary extras.
Why choose EIC for fleet insurance in Milton Keynes?
At EIC, we know that every fleet comes with its own unique risks. Whether you operate a small number of vans or manage a large commercial vehicle fleet, our experienced team will work closely with you to help you find suitable protection at competitive rates.
We take the time to understand your vehicles, drivers, industry, and operational requirements before sourcing cover from a range of insurers. The result? A tailored fleet insurance solution that is designed around your business, rather than a standard off-the-shelf policy.
Get in touch
If your business operates company vehicles and you're looking for competitive fleet insurance in Milton Keynes, EIC can help. Simply get in touch with us today on 01442 286910 or at info@eicinsurance.co.uk for a no-obligation insurance review and bespoke quotation.
Protecting your fleet starts with the right conversation, and we’re ready when you are.