Fleet Insurance

Fleet Insurance is a type of vehicle insurance that people purchase when they need to cover multiple vehicles that are used for business purposes, as is the case with trucking companies. Because fleet insurance is considered a commercial insurance, not all insurance companies will carry it. A good place to start looking for fleet insurance is with the owner's current insurance provider. Bundling several different types of insurance will often save money.

Most people tend to go with the cheapest rate they can find when it comes to purchasing insurance, which is not always the best option. The reputation of the insurance company should be considered, as well as how long they have been in business, their customer service and dependability in a crisis. A good way to get a sense of these things is to ask around at other trucking companies to see who they use, and if they have had any bad experiences with a particular company. This will give owners looking to purchase fleet insurance a good place to start.

When it comes to keeping the cost of fleet insurance down, there are a few ways to manage this objective.Usually when the deductible is larger, the premium is lower. If a company is well-funded enough to be able to cover the occasional payout on the deductible, it is worth it to keep a larger deductible to lower the cost of the premium. Also, businesses should consider the limit on the insurance. A higher limit might not be necessary. Lowering the limit will lower the insurance premiums. The easiest way to lower insurance premiums is to hire only safe drivers who are fully licensed for the vehicles they are allowed to drive. Insurance companies will often lower the price of premiums if employees undergo driver training programs as well.

Fleet Insurance

Because fleet insurance operates in most ways like car insurance, companies can pick how much coverage they would like to have. They are not restricted to choosing just one type of coverage for the entire fleet. They might choose to get comprehensive and basic liability coverage on their newest, most expensive vehicles, and limit the older vehicles to just liability insurance. There are several options to choose from, and mix and matching different types of coverages to a fleet's many vehicles is one more way to save the owner some money.

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Last Updated: 04/25/2014

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