What Is Commercial Fleet Insurance?

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Your business is on the move.

What is commercial fleet insurance and how can it help you?

 

As a business owner, you know that every company operates differently. And if you own a fleet of vehicles, you already know that your business operates differently than most.

When your livelihood relies on commercial vehicles, preventing property damage and bodily injury is crucial. Commercial fleet insurance is one way you can help protect your small business.

 

What Is Commercial Fleet Insurance?

Commercial fleet insurance is designed for those who own five or more vehicles for business purposes. While it offers much of the same coverage as traditional commercial auto insurance, fleet insurance has several advantages.

For one, it can be more cost-effective to insure vehicles “in bulk” rather than finding a separate policy for each individual vehicle.

Fleet insurance also simplifies your auto coverage. Rather than keeping track of multiple policy numbers, insurance premiums, and renewal dates, everything is consolidated into one easy-to-handle policy.

And if your needs change, your fleet insurance can too. You can add or remove both vehicles and drivers from your policy at any time.

What Does Fleet Insurance Cover?

In many ways, fleet insurance is a lot like any other commercial auto policy—it can cover physical damage, liability, uninsured motorists, liability, and more. It all depends on which coverage you choose.

Here are some coverage options to consider:

Collision coverage – Covers damage to your vehicle(s) caused by crashing into another object (i.e. another vehicle, tree, mailbox, etc.)
Comprehensive coverage – Covers physical damage to your vehicle(s) caused by any other kind of loss named in your policy (such as theft or fire)
Personal Injury Protection (PIP) – Covers injuries to drivers and passengers of the vehicles in your fleet
Property Damage Liability insurance – Covers physical damage to another person’s property
Bodily Injury Liability coverage – Covers physical injuries to another person (that wasn’t in your vehicle) as well as any legal expenses in the event of a lawsuit
Uninsured Motorist coverage – Covers you in the event that the other driver does not have enough coverage to pay for medical bills

Of course, there are many types of insurance claims that aren’t covered by the policies listed here, so speak to your insurance agent for more information.

Who Needs Commercial Fleet Coverage?

Not every business owner will benefit from commercial fleet insurance, but for the ones that do, it’s absolutely necessary.

We offer a full range of commercial insurance and fleet auto insurance policies, for a variety of job industries:

Car rental companies
Construction companies
Couriers
Garage keepers
Home service providers
Moving companies
Restaurants
Taxi companies
Trucking companies
And many more!

Chances are, no matter what type of vehicles are in your fleet, coverage is available.

What Does Commercial Fleet Insurance Cost?

As with any kind of insurance, this depends on your individual policy.

There are a number of different factors that determine your insurance rates:

Number and type of vehicles in your fleet
Vehicle usage
Type and level of coverage
Insurance company
Where your business is located
Claims history

While cost is certainly an important factor in any business decision, it shouldn’t be the one that drives your choice in insurance.

When it comes to insurance, you get what you pay for.

Shopping for coverage based on price alone will almost always result in a sub-par experience when it comes time to file a claim. “Cheap” car insurance often comes with high deductibles, poor coverage, bad customer service, and worse.

 

Ready To Buy Commercial Fleet Insurance?

We always advise our clients to purchase policies through an independent insurance agent.

Unlike captive agents, who are tied to a single insurance company, independent agents have much more freedom to shop the market. As a result, they have access to a wide range of policies that fit your needs as well as your budget.

At Harry Levine Insurance, we’ve been independent agents for more than 30 years. During this time, we’ve not only grown in size, we’ve gained knowledge and experience that allows us to better serve the residents of Central Florida.

Whether you’re looking for a commercial fleet policy for five vehicles or 500, we can find a policy that’s just right for you.

Call today for a free quote.

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