Fleet Insurance Claims Experience – why is this so important?

If you are already “Fleet Insurance rated” then prior to the renewal of your policy your fleet insurance company will issue your fleet insurance broker with your Fleet Insurance Claims Experience.

This document tells you, your motor fleet insurance broker and any prospective insurers/brokers about the performance of your motor fleet insurance policy.

By perusing this document your fleet insurance company will calculate the rates they will be offering you for your new period of insurance.

When calculating your fleet insurance premium Insurers will pay close attention to the following information:–

  • Overall Claims paid and outstanding (the higher the amounts the worse your fleet has been performing)
  • Number of vehicles on cover during the year (a large increase on previous years may help explain the increase in claims or vice versa)
  • Frequency of incidents (insurers are on the look out for decreasing claim frequencies)

Fleet Insurance Companies also like to see a Fleet Insurance Claims Experience with three years of history as this will offer a fairer picture of how your fleet insurance has been performing.

It is not unusual for a fleet insurance policy to only offer good claims figures for one out of 3 years – but when this happens it is important to let your fleet insurance broker work with you to correct what may be going wrong.

If you do not understand your motor fleet insurance claims experience then ask your fleet insurance broker – this is what we are here for.

Talk to one of our fleet insurance specialists now on 01702 826060.