Exclusions differ from one insurer to another, and checking them is part of our work before we recommend a policy to you.
A delivery van is left on a public car park overnight and in the morning there is a dent in the side door, with no details of the other party. Motor third party liability is of no help because the person responsible is unknown, so the loss is settled under casco, with a police report and the agreed deductible.
A company driver causes a multiple vehicle collision in town. Motor third party liability pays for the damage to the other vehicles and for any injuries to other road users, while the repair of your own vehicle comes from casco. Without casco you are left with the garage invoice and a vehicle off the road.
A truck disappears from the fenced yard of the company. Casco with theft cover pays the market value of the vehicle at the time of the loss, once the period the conditions allow for the police investigation has passed, less the agreed deductible.
The examples are illustrative and show how the cover works in practice.
The threshold varies from insurer to insurer and usually starts at a handful of vehicles. At some companies the total premium matters more than the number of vehicles. Send us the vehicle list and we will check which insurers will treat your fleet as a fleet.
Yes, and it is one of the first things we sort out. Policies are issued with a shortened or extended first period so that all the dates line up, after which you have one renewal a year instead of a dozen. It also makes comparison easier, because the whole fleet goes to market at once.
For motor third party liability the premium grade is tracked per vehicle, so one claim does not spoil the whole fleet. For fleet casco contracts insurers usually look at the overall ratio of claims to premium for the company, which means a few large losses can raise the renewal price for every vehicle. That is why we monitor the loss ratio during the year and approach other insurers in good time.
For vehicles of low market value full casco is often uneconomic, because within a few years the premium reaches the value of the vehicle. Partial casco with glass, natural perils and fire then makes more sense, or a higher deductible that keeps cover for the large losses. We make that recommendation vehicle by vehicle rather than as a flat rule for the whole fleet.
With most insurers private use of a company vehicle is covered as long as the driver is a person authorised by the policyholder, but this has to be clear in the conditions and in the internal rules of the company. The problem arises when the vehicle is driven by someone who is not authorised, because the insurer can then seek recovery of the amount it has paid. We check the wording before signing.
Send us a short enquiry. We collect offers from every insurer that covers this risk and explain the differences before you sign anything.
