The three-year contract for fully comprehensive cover with insurance broker Brian Johnston and Co was devised to reflect the different driving profile of people working in the health service and allows individual NHS trusts to anticipate premiums in time for budget appraisals.
The deal also provides facilities to manage accident damage claims to keep insurance costs down for the fleet.
Insurance firm owner Brian Johnston said: 'The contract represents a real shake-up in the industry, and I believe we are genuinely breaking new territory.
'We were in the position to identify and provide a long-term solution that deals with the fact that NHS driving patterns don't conform to the normal fleet experience.'
The scheme includes accident management and a risk management programme, while trusts will have a greater ability to control their own costs. As part of the deal, the insurer will provide regular updates on claims costs and the type of claims being made.