6 Major Benefits of Fleet Insurance

By | July 26, 2017

Business owners must consider buying various forms of insurance, but commercial auto insurance is one of the most important types, especially if employees will be driving the company’s vehicles. In this guide, business owners can learn why a fleet insurance policy can work to their advantage.

A Single Renewal Date for Every Vehicle

With a fleet policy, the business owner no longer has to remember to renew individual vehicles as they come due. The broker will monitor renewals, and ensure that the policyholder gets the most competitive rate possible. This can save business owners hassle and time, not to mention the additional stress.

A Single Payment and Contract

Of all the things a business owner has to deal with on the job, paperwork is probably one of the most inconvenient. Therefore, anything that can reduce the amount of paperwork to be done can be beneficial. With a fleet policy, there’s only one payment and one contract to worry about. This means the owner spends less time sorting through files, and more time running the business.

NCBs (No Claim Bonuses) Carry Over

If a policyholder hasn’t made any claims, they can get substantial discounts on coverage. When a business owner makes the switch to fleet coverage, this discount may carry over.

Competitive Rates for Bigger Fleets

If a company has three or more vehicles that are individually insured, a fleet policy may provide a more cost-effective option. Large fleet policies are almost always cheaper than individual coverage for vehicles.

Special Account Management and Claims Handling

Individual policies typically do not include specialist services that fleet clients require, such as replacement vehicles. With fleet policies, the business owner is in safe hands from the very beginning. From the broker to the claims handler, everyone knows the fleet’s requirements.

Employees Can Drive Any Vehicle

Fleet owners always say that the flexibility for drivers to use any vehicle is one of the biggest benefits of fleet insurance. A business owner can efficiently schedule his or her working day without worrying about who’s covered on which vehicle, or dealing with the inconvenience of amending a policy.

With all of these benefits, it’s easy to see why more companies are making the switch to fleet insurance. Contact a local broker or view online for more details.