what is fleet insurance?

what are the basi facts

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  • Cala
    Lv 7
    9 years ago
    Best answer

    Fleet insurance is normally for a company that has 3 or more vehicles, and it means that 1 policy covers all vehicles and drivers - this saves the company having to insure each vehicle separately. The company is responsible for ensuring that all drivers fit the criteria of the policy (eg it could state that all drivers must be over 25 or that all drivers have a totally clean driving licence etc). The company then pays one annual premium to get all vehicles covered, and any of their drivers can drive any of the vehicles. If the company purchases a new vehicle or gets rid of an existing vehicle then they advise the insurance company and the policy is amended. For a very large company that has a big turnover of vehicles, they will notify the insurer quarterly of any changes, rather than notifying every single amendment. Basically, a fleet policy is used where several motor policies would otherwise need to be issued.

  • Gambit
    Lv 7
    9 years ago

    A fleet policy is an auto policy that covers a large number of vehicles. Most insurers require a minimum of five vehicles before they will insure the policy on a fleet basis. The policy is usually rated on an experience basis, which means they look at the loss experience of the entire policy as opposed to individual vehicles to determine the premium charged.

  • 9 years ago

    there are many aspects of fleet insurance, it can vary from a family having a family fleet with all their personal cars on one policy, or a huge fleet of lorries or van for commercial use eg fleet Eddie Stobart.

    Commercial fleet policies are usually any driver over a specific age and can be as small as 2 vehicles up to 1000's of vehicles.

    Source(s): Specialist Insurance Adviser
  • Rose
    Lv 4
    4 years ago

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    Hi, Motor Trade: (must be in the motor trade to get one) All drivers must be named to drive. The benefit to having a motor traders policy is that you don't have to specify any vehicles on the policy apart from your private vehicles. i.e you can have a policy that allows you to drive any vehicle up to a selected value amount. so you can have/buy/sell numerous vehicles within that set value limit and not worry about notifying the insurer. Fleet: (must have 4 vehicles or more) Must list all vehicles to be insured. Benefits of a fleet policy is that you can have an open driving restriction i.e. Any driver over 25yro who holds a valid UK drivers license and with your permission can drive any of the vehicles in your control. Hope this helps

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  • mark m
    Lv 7
    9 years ago

    Fleet insurance is insurance coverage that companies buys to cover all of its vehicles.

  • 5 years ago

    can the holder of the fleet insurance sue the driver that was driving the car for him for damages

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