Fleet Automatic, in the auto insurance industry, automatically provides physical damage coverage to all newly purchased cars owned by the insured. Like all motor vehicle liability insurance, fleet insurance provides coverage for your vehicles in the event of an accident. Auto insurance for fleets covers vehicles, drivers and people affected in the course of a crash or other accident. A fleet vehicle must be owned by a company or organization.
This is the only major requirement of a fleet vehicle; the company owns all of the vehicles in the fleet, not one person. They don't have to be a specific size. They don't have to have a specific purpose. While your personal comprehensive auto insurance policy may cover personal items of value, fleet car insurance generally doesn't.
The fleet insurance company calculates the risk in part based on who drives the vehicles, so they need to know this information to accurately calculate how much insurance their commercial fleet will cost. Your insurance agent will be able to set up the fleet insurance payment plan that best suits your needs. Instead of insuring each work vehicle individually, your company can save thousands if you take out fleet insurance. There are two main differences between commercial fleet insurance coverage and 26% commercial non-fleet insurance coverage.
That said, car rental companies aren't the only companies that can benefit from fleet coverage of cars and vans. Buying auto insurance for fleets from the same insurance company that has your company's general liability policies and other small business insurance policies can offer great savings. Insurers will access this telematic data and use it to set the price of an insurance policy that takes into account the safety with which their fleet operates. But where regular or commercial fleet insurance differs from a regular auto insurance policy is its scope.
Check if the vehicle insurance provider in your fleet offers discounts for having GPS devices installed in your vehicles. Talk to your insurance agent to determine exactly what policy you'll need to cover all of your company's vehicles that aren't covered by the auto insurance in your fleet. Fleet insurance is considered the best and most efficient option for insuring more than one vehicle under the same policy. Fleet insurance differs from standard car insurance in a couple of ways, for example, it's offered exclusively to businesses.
So what does fleet insurance cover? If you have an auto insurance policy, you're probably already familiar with fleet insurance coverage.