Fleet
Insurance

In this guide

  1. What is Fleet Insurance?

  2. How is the cost of Fleet Insurance policy determined?

  3. Get a quote

What is Fleet Insurance?

As the owner of a small to medium-sized business with a fleet of automobiles, it is imperative that you carry the appropriate types and amounts of commercial fleet insurance. Businesses like yours that own fleets of vehicles depend heavily on those vehicles. Without them, you may be unable to deliver the goods and services your company supplies. Not only would you lose money from the loss in business operations, but if you also had to pay for repairing or replacing one or more of your business autos, it could put a severe financial strain on your company.

These are the most important types of business fleet auto insurance you should carry:

A) Liability Insurance

B) Bodily Injury

C) Property Damage

D) Medical Payments

E) Physical Damage Insurance

F) Comprehensive Physical Damage

G) Collision Damage

H) Specified Peril (CAC)

I) Uninsured or Underinsured Motorist

J) Bodily Injury Property Damage Collision Deductible Waiver (CDW) 

Other Important Business Fleet Auto Insurance Includes:

A) Rental 

B) Towing 

C) Accessories (Ex: mileage meters, navigation units, radios) 

How is the cost of Fleet Insurance policy determined?

Insurers use many factors to determine the policy premium. The number and kind of vehicles insured and the location of the business are key factors. Insurance rates vary by state and region. For example, costs tend to be lowest in rural communities and highest in cities, where there is more traffic. Also, some cars are more expensive to insure than others. Vehicles with expensive repair costs and those more attractive to thieves cost more to insure.

The policies generally protect not just the driver and vehicle but also your business, pedestrians, and other motorists. The specific use of your commercial vehicles will be important in determining the right policy type and coverage limits. Regular personal car insurance is often not sufficient to cover a potential financial loss when a vehicle is used commercially.

We can help review your risks and provide auto fleet insurance program costs for coverage that would best protect your business. Talk to us today to know more.

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