Fleet insurance is insurance cover for a fleet of commercially used vehicles with just one framework contract. This not only makes it easier to organize your commercial vehicle insurance, but ideally also reliably protects your company’s assets, vehicle contents and your employees. You also benefit from significantly more benefits at more attractive conditions with a car insurance policy for your fleet compared to individual policies.
There is a wide range of fleet insurance on offer. To find the right insurer for your company, you should check in advance whether you meet the relevant requirements for the number of company vehicles to be insured. The type of vehicles, the damage rate in the fleet, the industry and, last but not least, the drivers also play a role.
It can be difficult to take out insurance for industries whose main business takes place on public roads. These include, for example, cab companies, courier services, car rental companies and care services. Due to the increased risk, the insurance cover for these vehicle fleets must be checked and calculated individually.
The number of company vehicles also determines the contribution
The premium amount for commercial vehicle insurance depends on many factors. Among other things, the number of insured vehicles plays a significant role. The more company vehicles you insure, the greater the discounts you can negotiate for your fleet insurance. However, some providers have a maximum limit up to which they will insure the vehicles in your fleet. In principle, you should have at least three cars in your fleet in order to be able to take out fleet insurance.
What you should clarify before concluding a contract with the fleet insurance company
For the right commercial vehicle insurance, we recommend clarifying the following questions in advance with the fleet insurance company. If your requirements are adequately covered by the insurance company, you are a big step closer to your fleet insurance . The next step is to choose the best policy from the wide range of available options.
What risks should your fleet insurance cover?
Theft, international journeys, long-distance journeys, injuries to passengers, breakdown assistance, legal costs – what is important to you? Bear in mind that the statutory liability insurance only covers third-party damage. If damage to your own vehicles and drivers is also to be insured, fully comprehensive insurance is required. You can arrange cover against fire and theft as well as injuries or damage caused by your own employees via additional agreements with the insurance company.
Are all fleet vehicles insured at all times?
If your fleet changes, you must ensure that the policy also applies here. For example, newly procured vehicles or lease returns may require adjustment. As a rule, the insurance provider must be informed of significant changes in good time so as not to jeopardize the insurance cover.
Are electric cars and hybrid vehicles sufficiently insured?
If you have electric cars or hybrid vehicles in your fleet, these are also covered by vehicle fleet insurance. However, make sure that both batteries and consequential damage are included in the scope of insurance. Typical hazards here include damage to the batteries as a result of accidents, operating errors or improper towing, as well as the theft of charging cables.
How can you reduce the cost of commercial vehicle insurance?
Among other things, the claims history of the vehicles, the type and number of vehicles, the size of the fleet and the desired scope of services play a role in the premium calculation. Costs can be reduced, for example, by additionally equipping the vehicle fleet with anti-theft systems or telematics systems (tracking systems). Some providers also reward the switch to lower-emission or electric vehicle models with reduced insurance premiums.
Does the insurance cover all drivers of pool vehicles?
To this end, all driver-relevant information should be provided in advance and owner liability issues should be clarified within the company. Important to know:
- Drivers can usually only be included in the insurance cover from the age of 25.
- Employees who have been convicted of traffic offenses must be reported to the insurance company.
- Failure to complete the annual driver training in accordance with the accident prevention regulations or failure to have your driver’s license checked every six months can have consequences in the event of an accident. Anyone who drives without a driver’s license is putting the protection of commercial vehicle insurance at risk. In the event of a claim, motor third party liability insurers often claim back part of the claim costs, while partial and fully comprehensive insurers can refuse to pay out at all.
Overview of useful additions to fleet insurance
The legally prescribed motor vehicle liability insurance is mandatory for every commercial motor vehicle insurance policy. It covers damage to third-party vehicles and persons if an accident was culpably caused by a company vehicle. The statutory minimum cover amounts are EUR 7.5 million for personal injury, EUR 1.22 million for property damage and EUR 50,000 for financial losses.
With most insurers, you can individually extend the scope of benefits with comprehensive insurance and other additional modules. An insurance advisor can help you find the best insurance cover. The following insurance products are available for commercial fleets:
Comprehensive car insurance
Damage to your own vehicle can be covered by fully and partially comprehensive insurance. Partial casco covers costs caused by external influences such as theft, damage caused by wild animals and weather. Comprehensive insurance also covers the costs of self-inflicted accident or parking damage, as well as the consequences of vandalism.
Brake, breakage and operational damage insurance
In addition to fully comprehensive insurance, this insurance covers damage that is not the result of an accident. This insurance is particularly recommended for commercial vehicles in the vehicle fleet and if goods are transported frequently. Possible practical cases include vehicle damage caused by braking with an inadequately secured load or overloading. It also covers, for example, damage caused by failure of the safety technology, operating errors or technical driving errors.
Public liability insurance
If customer vehicles are also driven, it is advisable to take out business liability insurance. If an employee causes damage to a customer’s car in the course of their business activities, this is covered. Only in the case of gross negligence does the private liability of the person responsible take effect.
Motor legal protection insurance
Motor legal expenses insurance covers the costs of a lawyer in legal disputes with the opposing insurance company, garage or authorities following an accident.
Legal expenses insurance for fleet managers
Fleet managers bear a great deal of legal responsibility in addition to their business management responsibilities when the duties associated with keeper liability are delegated to them by the management. In the assigned function as vehicle owner, the fleet manager is jointly responsible for offenses committed by drivers and pool vehicle users. Legal expenses insurance covers the costs of defense in the event of criminal or administrative offence proceedings.
Car cover letter insurance
In the event of a breakdown, the car cover letter insurance comes into play. The assumption of the costs of a towing service, return transportation, the organization of a rental car or theft protection are possible integrated services.
Company car contents insurance
Valuable tools, building materials or spare parts are popular stolen goods. Company car contents insurance takes effect in the event of damage or loss. The parked vehicle is also insured here.
Fleethouse expert tip: How to save on car fleet insurance
You can significantly reduce the cost of your fleet insurance by agreeing an excess of EUR 150 or EUR 300 for cars. A deductible of EUR 2,500 is standard for a truck. Although you will have to pay this amount yourself in the event of a claim, you will be rewarded with lower premiums overall.
Our conclusion
If you want to cover all your company’s vehicles and your employees perfectly with just one contract, fleet insurance is exactly what you need. In addition to the reduced bureaucratic effort, you also benefit from lower premiums compared to individual insurance. In addition to liability and comprehensive insurance, many insurers offer a variety of additional modules that are tailored precisely to the insurance of commercially used motor vehicles. Clarify in advance what insurance cover you need and let a broker help you find the right vehicle fleet insurance.
Do you want to give Excel the boot?
Register with Fleethouse and manage your company vehicles completely digitally.
The most important facts about fleet insurance for your vehicle fleet at a glance
With just one framework agreement, you can insure your entire fleet and all drivers without much effort and at favorable conditions.
The basis of motor vehicle fleet insurance is statutory liability insurance. With the appropriate additional modules, you can extend your insurance cover to suit your individual needs.
The premiums for commercial vehicle insurance are always calculated individually. They depend on the number and type of vehicles, the claims history of the fleet and the type of commercial activity.
Further fleet knowledge
If you liked this article and would like to know more about this topic, we recommend these articles.
Fleet management without Excel: How to save time and money
