For businesses that do a lot of driving, or own multiple cars, for example a pizza delivery business, it can be much cheaper to opt for fleet insurance than regular automobile insurance. This provides for a single policy for all commercial automobiles, regardless of their make, and you can choose to either offer uniform coverage, or customize the coverage for each individual car or group of cars depending on what your needs and usage are.
In order to get fleet insurance for your company, any and all drivers must have a valid drivers license. This means it cannot be suspended, expired, or revoked. Instead of checking with the Department of Motor Vehicles, when applying for the policy the future policyholder must list all possible drivers of the vehicles, and must also list all traffic violations for each individual, as well as their drivers license number. This information is part of what the insurance company will use to determine the cost of your policy.
The type of coverage you can get varies depending on state laws as well as the insurance companies regulations. You can choose to have the same coverage for all vehicles, or can have different types of coverage on different vehicles. Many companies do require a minimum amount of coverage, and depending on the nature of the driving, certain types of coverage may be required that go beyond just liability.
For fleet insurance, the major discount you can get is a multi-car discount, but there may be other discounts your insurance company can provide if you just ask. Many apply discounts based on the drivers, for example if they have taken any safety or defensive driving courses, these may apply for discounts, and also safe driving habits of the drivers. The more traffic violations and problems your drivers have, the higher your premium will be, so it can be very beneficial to ensure the people you are hiring are cautious and safe drivers. You can often times get a cheaper rate if your cars are equipped with alarms and immobilizers that prevent the car from being stolen.
Other factors that determine how much your policy will be include the size of the vehicle based on weight as well as what its intended use will be, for example whether it will be used for deliveries or hauling. Fleet insurance can save businesses a lot of money under the right circumstances, so if your business does a lot of driving, this may be one option to consider.
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