Car - Macbeth Fleet Insurance

New Fleet Insurance – Why is obtaining cover so difficult?

The number of insurers willing to offer fleet insurance for new ventures has reduced dramatically over the last 18 months or so. This could be due to underwriters making poor decisions and also some non-UK based insurers either folding or moving out of the motor market.

New ventures are in a bit of a Catch 22 position as most insurers are looking for 3 years’ claims experience to provide cover.

So, what are the options for new ventures? One option would be to look at arranging individual business cars’ and commercial vehicles’ policies. The idea would be to look at building up some no claims bonus that can eventually be transferred onto a fleet policy.

The key to obtaining quotes from the limited number of insurers that can offer cover, is providing them with detailed information that shows the risk in the best possible light. Examples of this could be:

  • Naming drivers and providing details of their experience
  • Providing estimated annual mileage
  • Providing the exact overnight parking postcode
  • Providing details of vehicle security
  • Installing forward facing cameras

For more advice about arranging fleet insurance for the first time, contact Tony Gibbs on 0118 9165485 or complete one of our enquiry forms.

 

Author: Tony Gibbs | October 5th, 2017

Contact the author

Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk