• Call Us Today!
      (800) 921-1120
      Or Get a Free Quote Below

Insurance Rates for Fleet and Company Vehicles

Fleet and commercial vehicle insurance is a single policy that covers multiple vehicles for a business. Even if you own multiple vehicles in your personal capacity, you can take advantage of attractive insurance rates for fleets and company vehicles.

Fleet insurance is basically a commercial type of insurance for a large number of vehicles but the actual number is not specified. Any number more than two qualifies for fleet insurance; less than six vehicles is mini fleet. Fleet insurance covers any type of vehicle that requires a driving license and includes trucks, mini vans, buses and cars.

Fleet-and-Commercial-Vehicle-Insurance_optBy buying a fleet insurance policy the holder may choose to have the same coverage for all vehicles or prefer to customize coverage for each vehicle according to its needs. For example, a holder may want a higher liability insurance component for commercial vehicles.

A complete fleet insurance comprises of comprehensive and liability insurance. The comprehensive component of the policy covers repair cost and medical expenses for accidents involving your vehicles and drivers. The liability insurance component on the other hand, covers bodily injury and property damage inflicted on the other party involved in an accident.

Fleet insurance became a high success when it was launched. Initially, it was offered as a product meant only for businesses that owned multiple vehicles for commercial purposes such as delivering goods to customers. It offered maximum benefits for business like pizza shops and florists. Seeing the great potential of the product, auto insurance providers began promoting the product to people with multiple vehicles for personal use.

The biggest advantage is that rates for fleet insurance are typically less as compared to an individual policy for each vehicle. Auto insurance is a highly competitive field and insurance providers are always ready to offer loyalty premiums. Low rates for fleets are actually passing off such premiums and the benefits of economy of scale to the customer.

Fleet insurance also offers a distinct advantage in as much as that one single policy covers any number of vehicles a person or business may own. This translates into lesser paperwork and you need not keep track which policy pertains to a particular vehicle and when to renew which.

The internet is the best place to get cheaper rates for fleets and company vehicles. The World Wide Web is flush with hundreds of websites dealing in insurance products. When it comes to getting better rates for fleets it pays to look for an objective insurance consultant who could be an insurance broker not affiliated to a specific auto insurance provider.

Considering that you are seeking insurance for multiple vehicles the overall premium you will be required to pay can be pretty huge. You can use that as leverage to get better rates for fleets and company vehicle insurance.