Qualifying for Fleet Insurance: The Criteria
Fleet insurance has become a must for many businesses that operate with a number of different vehicles. However, many insurance providers have their own criteria that you must meet before they can insure your fleet.
In this guide, we’ll explore the key criteria that must be met and what to do if your business doesn't meet them.
Are there criteria you need to meet to get fleet insurance?
Yes, many fleet insurance providers will require you to meet specific criteria. These requirements will vary depending on the insurer, your specific needs and the nature of your business.
Before you start looking for quotes with different insurance providers, you should consider using a broker, such as ourselves at FleetCover, who specialise in fleet insurance. We can help you to navigate the complex nature of fleet policies and find the most suitable one for you.
What you need to qualify for fleet insurance
Listed below are some of the most common factors that insurers will look for when assessing whether you are eligible for fleet insurance.
- 1Number of vehicles - The first thing an insurer will want to know is how many vehicles you will need to cover on your fleet policy. Many insurance providers will require a minimum of 2 vehicles, however, some may set a higher minimum. The maximum number of vehicles will also vary, with some providers offering cover for 100+ vehicles.
- 2Type of vehicles - The types of vehicles you have can have a significant impact on your ability to qualify for a fleet policy. This is because certain vehicles, such as specialist vehicles or those carrying hazardous material might require additional cover or different policies. Many popular insurance providers will allow standard vehicles such as cars, motorbikes, vans and lorries to be included in your fleet policy.
- 3Driver details - Insurance providers will also need information about the drivers who will be operating your fleet. This will usually include their age, their driving licence and their driving history (such as if they have committed any driving offences). Ensuring that all your drivers meet the insurers specific requirements can help you to qualify for fleet insurance.
- 4Vehicle usage - How and where your vehicles are used is another determining factor on whether or not you will qualify for fleet insurance. Vehicles used for long-distance travel or haulage and in high-risk areas may not meet the requirements of standard fleet insurance providers, and will therefore need a specialist insurance provider.
- 5Compliance with legal requirements - Compliance with UK motor rules and regulations is mandatory. Your fleet must be roadworthy, well maintained and each one of your drivers must have a valid license. Failure to comply will make you ineligible for fleet insurance.
- 6Insurance history - A clean insurance history can help you when it comes to applying for fleet insurance. Insurance providers will often look at your claims history and overall management of previous policies. This could mean a history with a lot of claims might result in higher premiums, stricter conditions or even ineligibility.
We Can Help you Qualify for Fleet Insurance
What if you don’t qualify for fleet insurance?
If your business doesn’t qualify for fleet insurance, don’t worry, as you can still insure your vehicles with standard business policies or potentially through what is known as grey fleet insurance.
Grey fleet insurance is insurance for employees who use their own vehicles for business purposes. Under this cover, any journey that the employee makes for business purposes would class the employee as a ‘grey fleet driver’.
Alternatively, you can get in touch with our team at FleetCover who will help you to find specialist insurance providers that meet your business’s specific needs. Many of the main lenders will have strict criteria to be met, which can unfortunately result in your application for fleet insurance being rejected.
At FleetCover, we have a huge database of different insurance providers, including a number that are specially designed for unique or high-risk fleets.
