Types of Commercial Vehicles We Insure

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Fleet Insurance:

Fleet insurance is a type of vehicle insurance policy that covers multiple vehicles on the same plan. In this case, the vehicles in a fleet are registered in the same place under the same company name allowing the single policy to cover all the vehicles in the company’s fleet. 
The terms of fleet insurance vary for different trucking insurance companies. But most companies provide this type of policy for organizations that have at least 2 vehicles in their fleet. Getting a single plan for the entire fleet like this can save you from the headache of renewing the plan for each vehicle individually and also helps to save cost in the long run.

Composite Rated Policies:

• Composite rated policies often apply to fleet vehicle insurance although it may apply to other insurance types as well. The premium to be paid for composite rated policies is calculated as a group rather than individually. This is often more convenient for both the policyholder and the insurer since it makes premiums easier to calculate. The composite rate also simplifies the auditing process and also makes budgeting and accounting a lot more convenient. To determine the composite rate for a plan, the insurer considers the risk profile of all the units being insured (all the cars in a fleet) and divides this by the number of units. This is the composite rate to be paid as a premium to cover the entire fleet.
  

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Offer Fleet Discounts: 
Aside from the fact that fleet insurance is more convenient, it is also significantly cheaper than taking out an individual policy on each car in your fleet. Depending on the number of vehicles in your fleet, you may be able to save a substantial amount in premium on your commercial car insurance by opting for a fleet policy. Prestige International Insurance offers a discount on fleet insurance plans to help you save costs even more. Peco Insurance is licensed in over 34 states and we offer affordable and convenient insurance policies for both old and new truckers. If you run a business with a fleet of vehicles, take advantage of the fleet discount we offer.

(704) 837-2942​
1805 Sardis Rd North
Suite 136
Charlotte, NC 28270
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Frequently Asked Questions About Fleet Insurance

What qualifies as fleet insurance?

Fleet insurance typically applies to businesses that operate multiple vehicles and want to insure them under one commercial auto policy.

How many vehicles are needed for fleet insurance?

Many insurers consider five or more vehicles a fleet, though some programs allow fewer vehicles depending on usage and risk.

Does fleet insurance cover different types of vehicles?

Yes. Commercial fleet insurance can cover cars, vans, pickup trucks, box trucks, delivery vehicles, and mixed fleets.

Is fleet insurance cheaper than individual vehicle policies?

Fleet insurance can reduce administrative costs and may offer lower per-vehicle pricing compared to separate policies.

Can drivers be added or removed?

Fleet insurance policies are designed to allow flexible driver and vehicle changes as business needs evolve.

Does fleet insurance help with compliance?

Commercial fleet insurance helps businesses meet state and federal insurance requirements while protecting assets.