Mini fleet insurance is a new policy that caters for smaller businesses as a tool to place their vehicles onto what is much like a fleet policy but a smaller version.
A mini fleet policy will usually be between 1 and 17 vehicles to be insured. We have many mini fleet policies set up and the type of companies range from manufacturers to waste companies. I.e. insurance for waste companies can be tough to place purely because of the trade. We can place this type of business on mini fleet with only 2 vehicles.
So why go for a mini fleet policy?
Do you have multiple drivers who drive your vehicles?
If the answer to that is yes, then insuring as a fleet instead of individually will benefit you. The premiums are cheaper for insuring them as mini fleet and you also get the flexibility of having any driver over 21 years or any driver over 25 years without having to name them.
Insuring as a mini fleet also means that your insurance is combined and you will have just one renewal date. This is a great benefit as you will then never miss any of your renewal dates.
How to run a good mini fleet policy!
Once you have converted onto a mini fleet insurance policy you no longer get bonus rated but claims rated. For example in the year 2012/2013 you have had 3 claims, 1 non fault and 2 faults and the pay-out is £7800.00 to the third party. If you paid at the beginning of the year £4000.00 for your mini fleet, due to the bad claims history your premium will increase due to bad claims history.
How is a poor claims history put right?
There has to be some form of control from a fleet manager or utilities manager. A good fleet manager will be in total control of the drivers, their licenses and the claims they have and if drivers are stepping out of line impose penalties. Poor drivers can be so costly to companies, they have to be identified.
So a good fleet manager or utilities manager is crucial as well as that good advice from your broker.
