Fleet Insurance from Massachusetts Specialists

Roger Keith & Sons

What is Fleet Insurance?

Massachusetts businesses with multiple commercial vehicles need an efficient way to insure them. Fleet insurance generally offers an easier and more cost-effective way to insure many vehicles, as opposed to purchasing coverage for each one individually.

Fleet insurance consolidates commercial auto insurance for multiple vehicles. The coverages are much like what’s found in standard commercial auto policies, except adjusted for more than one vehicle.

Which Massachusetts businesses does commercial fleet insurance make sense for?

Any Massachusetts business with 5+ vehicles will likely find commercial fleet insurance is the best way to insure their cars or trucks. This tends to be the point at which a fleet policy makes sense.

Businesses with 2-4 vehicles normally find that bundled individual policies make more sense for them. With a smaller number of vehicles, the fleet coverages, limits and premiums may be higher than what 2-4 vehicles require.

A total of 5+ vehicles isn’t a hard cutoff across all fleet policies, however. Any businesses that are unsure whether bundled policies or a fleet policy is better for them should talk to a knowledgeable insurance agent. An agent specializing in these policies will be able to check which option is more cost-effective, and assist with either one.

What types of vehicles can commercial fleet insurance cover?

Commercial fleet insurance is mainly commercial auto adjusted for covering multiple vehicles. Like commercial auto policies, commercial fleet policies are available for almost all of the cars and trucks businesses might use. For example, this might be used to insure:

• Cars (company cars, loaner cars, luxury cars, etc.)
• Vans (passenger vans, cargo vans, utility vans, etc.)
• Trucks (straight trucks, tractor-trailers, specialized trucks, etc.)

Not every policy will cover every classification and weight, but policies are readily available for most vehicle types and sizes.

What protections are included in commercial fleet policies?

Commercial fleet policies typically provide many of the same protections that standard auto coverage can come with. Some important protections to consider are:

• Personal Injury Protection (PIP): Generally covers injuries to individuals riding in company-owned vehicles.
• Bodily Injury Liability Coverage: Generally covers injuries to third parties not inside company vehicles, such as pedestrians or other drivers.
• Collision Coverage: Generally covers damages to company vehicles due to collisions with other cars or trucks.
• Comprehensive Coverage: Generally covers damages to company vehicles from events other than collisions, such as falling objects or theft.
• Property Damage Liability Coverage: Generally covers damage to other properties due to collisions, such as hitting other vehicles or buildings.
• Underinsured and Uninsured Motorist Coverage: Generally covers collisions with drivers who lack sufficient insurance.

The particular terms of virtually all coverages are adapted to insure multiple vehicles when included in a commercial fleet policy. There are other coverages that businesses might want, too.

What’s the difference between Symbol 1 and Symbol 7 commercial fleet insurance?

Commercial fleet policies can be designated as Symbol 1 or Symbol 7 policies. The difference between these lies primarily in what vehicles are covered:

• Symbol 1 policies usually cover any vehicles that employees drive
• Symbol 7 policies usually cover only those vehicles listed on the policy.

An insurance agent who’s familiar with commercial fleet policies will be able to recommend the right symbol.

How much does insuring multiple company vehicles cost?

While commercial fleet policies tend to be the most affordable way to insure 5+ company vehicles, premiums among these policies can vary quite a bit. Insurance companies consider factors like the following when setting premiums:

• Number of vehicles being insured
• Value of the insured vehicles
• Type and classification of the vehicles
• Weight of the vehicles and any trailers
• Intended use for the vehicles
• Coverages, deductibles and limits selected

Working with an independent insurance agent is an easy way to find out how much insuring a specific fleet of company vehicles will cost. An independent agent can compare policies from multiple companies, checking costs and coverages.

How can Massachusetts businesses get fleet insurance for their vehicles?

If you’re a Massachusetts business and have multiple vehicles to insure, reach out to the independent agents at Roger Keith & Sons. Our agents are familiar with the different types of commercial auto policies, including fleet insurance policies, and can make sure your company vehicles are properly and affordably covered.