How Many Vans Do You Need For Fleet Insurance?
19/02/2024
A common question asked by enterprises operating groups of vans in the UK is - what’s the minimum number needed to qualify for bundled fleet insurance and its built-in multi-vehicle premium discounts? Requirements differ slightly by commercial insurance provider, but most mandate around 3-5 units minimum.
What's The Sweet Spot For Maximising Fleet Insurance Savings On UK Vans?
Most insurers extend fleet rates to UK firms bundling as few as 3-5 vans onto one policy. So even small businesses can benefit. However, to maximise administrative efficiencies and cost savings for providers, the more vehicles included, the better when structuring programs. Discounts get applied across the entire group, reducing per unit costs further.
Jumbo fleet programmes covering 300+ mixed vehicle types offer the deepest per van discounts thanks to the overall scale. Yet even at 10-20 vehicles, impactful savings emerge from combining multiple vans onto one streamlined fleet plan instead of stand-alone policies.
Could A UK Business Insure Just 2 Vans As A Fleet?
A small minority of specialized UK commercial insurers may offer fleet discounts starting from just 2 vans - so comparing provider terms proves useful. But sub 5 unit groups remain less common presently.
The reality is most UK companies operate 5+ vehicles anyway once essential vans, trucks, company cars and speciality equipment all gets counted together - easily surpassing primary fleet thresholds set by leading insurance carriers.
What's The Average Van Fleet Size Insured In The UK?
The actual distribution of fleet scale insured for UK van groups generally falls along these lines:
- Small Fleet - 5 to 9 Vans
- Medium Fleet - 10 to 30 Vans
- Large Fleet - 30 to 75 Vans
- Jumbo Fleet - 75+ Vans
Of course very large transportation enterprises may protect vast 100-500+ unit van fleets, especially when counted regionally across national operations. But most typical SME programmes cover around 15-45 vehicles supporting everyday business activities when bundled across owned and leased assets.
Should You Expand Your Van Fleet Just To Access Fleet Rates?
It’s rarely advisable to acquire more vans exclusively to meet fleet qualifications set by insurers. Exceeding genuine commercial needs adds unnecessary ownership costs that fail to justify chasing marginal insurance savings.
However, some growing UK firms may already be considering additional necessary van acquisitions anyway − in which case coordinating new purchases concurrently with insurance renewal enables immediately maximising applicable fleet discounts. This could accelerate ROI on expanding van fleets needing insurance coverage regardless.
In summary − most insurers require around 3-5 vans minimum for multi-vehicle UK fleet insurance discounts. But operating 5-20+ vehicles unlocks the greatest savings and fleet policy advantages.
This article is designed to offer general advice and may not apply to every insurance, broker, insurer, cover or policy. You would need to check the individual policy benefits of each cover with your insurer or broker.
