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Fleet Insurance

If your business owns and operates three or more vehicles as part of its daily operations, you may be eligible for a fleet insurance policy. These plans resemble a commercial auto policy that covers many vehicles at the same time, helping you to meet coverage requirements at an affordable rate.

Industries that can benefit from fleet insurance coverage include:

  • Government agencies
  • Construction companies (including those with large construction vehicles like bulldozers)
  • Taxi services
  • Vehicle rental companies
  • Delivery services
  • Any other company that operates a fleet of vehicles

As of 2013, the Bureau of Transportation Statistics found that there were over eleven million fleet vehicles in service, with government and rental use seeing the most growth over the years.

Fleet Insurance Features: Commercial Auto Insurance

Commercial vehicle policies are a major part of fleet insurance, and they cover the vehicles themselves against damage and loss.

In most cases, fleets that focus on services (handymen, locksmiths, and similar professions) will see the largest discount on their premiums. Vehicles used for retail work, such as delivering food or flowers, usually see a more moderate reduction in premiums. Finally, companies that ship either people or large volumes of products see the lowest reduction, simply because there tends to be more damage in a collision. The current average is more than $20,000 for each incident, and since fleet drivers tend to be on the road far more than the average person, there’s a greater likelihood of a collision sooner or later. However, this is when having the proper insurance coverage becomes invaluable.

What's Covered by Fleet Insurance

The main component of fleet insurance is its blanket coverage of vehicles and employees—any employee will be insured while driving any vehicle in your fleet unless they've been specifically excluded from the policy. This is ideal for companies where vehicles frequently have different drivers, as well as companies that have vehicles out on the roads on a regular basis. All fleet insurance policies will meet or exceed the minimum amount of coverage required for commercial vehicles in your area.

If you're not sure whether a vehicle you use qualifies for coverage under a fleet policy (for example, you have a privately owned vehicle that's also used for business purposes), talk a Randall Insurance Services agent and they'll let you know if your vehicle is eligible.

 

1. Hatfield, Gary, and Janis Christensen. "10 Ways to Reduce Fleet Costs." Fleet Financials. March 2014. Accessed April 27, 2016. http://www.fleetfinancials.com/article/story/2014/02/10-ways-to-reduce-fleet-costs.aspx.

2. "Table 1-14: U.S. Automobile and Truck Fleets by Use (Thousands)." Bureau of Transportation Statistics. Accessed April 27, 2016. http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/national_transportation_statistics/html/table_01_14.html_mfd.

3. "Do You Know the True Cost of Fleet Accidents?" Telogis Blog. Accessed April 27, 2016. http://www.telogis.com/blog/cost-of-fleet-accidents/.

Our Locations

Main Office

4751 Wilshire Blvd.
Los Angeles, CA 90010
Main office: 323-936-1010
Toll free: 800-697-6122

Main Office - Bay Area

182 Howard Street, Ste 845
San Francisco, CA 94105
Main office: 323-936-1010
Toll free: 800-697-6122

Main Office - Desert

5 Trinity Court
Rancho Mirage, CA 92270
Main office: 310-993-3425
Toll free: 800-697-6122

Our Providers

If you are looking for a company that has only your best interests in mind, go with Randall. My family has had them as our agent for over 30 years with the best care and service anyone could ask for in an insurance representative. They believe in securing the best policies for the most reasonable price. In addition, I cannot say enough good things about the care our personal agent has put forth for us.
Caren F.
My wife and I have enjoyed a most satisfactory relationship with E. Broox Randall and Sons Inc. for over 10 years. The two major factors of why we have been, and we will continue to be their clients for all our insurance related needs are: their excellent customer service, no matter what issues have arisen related to insurance, they have always provided prompt, reliable, and friendly service. The second reason is for our own “peace of mind”, as we trust and rely upon their industry expertise and general counsel on all our insurance needs no different than the long-standing relationship we have with our financial advisor on our finances, and tax expert on tax-related matters.
John B.
I came to Randall after a miserable experience with an agent. Randall changed our insurance experience with candor prompt service, competitive rates and always available to help with a claim, new or changed coverage.
Mike L.
I just want to thank you, Nedi, for your high level of knowledge and professionalism over the years, representing E. Broox Randall & Sons as my account executive. You have continued to oversee all my insurance needs in a very detailed and explainable way.
A.D. Z.