Insurance for Fleet Vehicles to Run Your Business
January 25, 2023
Businesses and organizations who have more than two vehicles qualify for fleet insurance coverage. However, there are some insurance carriers whose fleet policy requirements are set at a higher number.
In addition to being more convenient for companies, fleet insurance is usually a cheaper option than having multiple policies for each vehicle.
Depending on the size of your fleet, you can expect to save money on your auto insurance premiums by purchasing Florida fleet insurance coverage.
Fleet Vehicles are the Foundation of Business
Fleet vehicles can range in type from cars, trucks, vans, or specialized utility vehicles. All vehicles assigned to the fleet must be owned and used by the organization. Technically, a business or organization does not have to purchase the vehicles for them to be considered part of a fleet, so companies can include vehicles that are leased, rented or purchased.
Fleet insurance is not only less expensive than purchasing multiple policies but fleet coverage can be written to the specific needs of your business. Since the fleet is covered under a group policy rather than individually, this gives companies greater flexibility over who can drive which vehicles. If one of your drivers is out for the day, you just assign another employee to that vehicle until they return.
Are commercial vehicles the same as fleet vehicles?
The underwriting of commercial vehicles for transporting goods or passengers that are privately owned is usually non-fleet commercial coverage based on the individual driver. For vehicles to be considered fleet vehicles, they must be owned or rented to an organization, business or agency. At Nsurance Nation, we have decades of experience in providing very competitive fleet insurance rates for a broad range of industries, including but not limited to:
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Since you don't need to be a big company to benefit from fleet insurance, any business that has more than one vehicle should speak with an independent agent. A more competitively priced fleet insurance policy could be beneficial to running your business in several ways. Generally speaking, small fleet insurance coverage is available for multiple-vehicle companies, as long as the total number does not exceed the insurance carrier’s specified total.
Liability, Bodily Injury and Property Damage
Because fleet insurance is focused on liability coverage, it must cover bodily injury or property damage sustained due to fleet vehicle accidents. Collision coverage can also be added for additional security in case a fleet vehicle needs a costly repair. Since federal and state laws require fleets to purchase commercial fleet insurance, it is essential for all fleet owners and operators to manage their policy to meet the specific needs of their fleet. So, it is prudent to periodically evaluate if you have the right type of insurance with the proper amount of coverage at the best price.
With the right fleet insurance, you will have coverage specific to your business’s use of company-owned vehicles around the clock. Here at Nsurance Nation, our experienced agents can help you match coverage to the fleet’s size, type, and purpose to ensure you have adequate protection for all the vehicles involved in your daily business operations. Adding insurance like collision coverage can also safeguard fleet businesses from having to pay for costly repairs anytime an accident happens to occur.
To shop for fleet insurance online, you only need to share some basic information and submit our convenient form for multiple quotes. Nsurance Nation provides expert guidance in navigating the regulatory process for Florida insurance compliance by simply visiting our fleet insurance page and answering a few questions regarding how your vehicles will be used for business or commercial purposes.
