Understanding Fleet Insurance For Small Business

fleet insurance for small business

Fleet insurance for small business may not seem important, but it is. Many assume that fleet insurance is only necessary for car sales businesses. However, your small business could also benefit from it. Any company that owns or leases two or more vehicles can get value from fleet insurance. 

Fleet insurance is appropriate for any industry. However, the purpose of your vehicle may determine other types of insurance that you need. 

Car insurance statistics suggest that high-risk drivers need affordable SR22 auto insurance. While it isn’t an actual type of insurance, it proves financial responsibility. It would be best if you had it for severe offenses like vehicular assault, severe endangerment of others, and DUI. 

How Much Does Fleet Insurance Work? 

Fleet insurance covers vehicles that your business owns or leases. It can be registered in the name of a company, its director, or partner. The payments may be yearly or monthly based on the deals and needs of the company. Specialist brokers and comparison sites will help you find the best deals. 

What Does It Include? 

Fleet insurance is a lot like regular car insurance. It comes in three unique coverage levels:

Comprehensive Coverage

This type of insurance covers damage to third-party vehicles in addition to yours. It also covers you for injuries to yourself, third parties, and passengers. You will receive coverage regardless of whether you were at fault with comprehensive insurance. 

Third-Party Only

This option gives you coverage for damage to third-party vehicles. It also offers coverage for damage to their property and injuries. It covers your passengers as well. 

Third-Party Fire and Theft

In addition to third-party vehicles, third-party fire and theft also cover your vehicle in theft or fire. 

While these coverage options have the same rules, the specifics depend on the provider. Always check your policy for exclusions before signing. 

The Value that Fleet Insurance Brings to Your Business

Any business with two or more cars will benefit from fleet insurance. It is a great way to manage the insurance of your company’s vehicles

Here are a few ways that fleet insurance can help your small business. 

Minimal Hassle

Time is money, especially when you have a small business to worry about. With fleet management, you can take care of all your company vehicles at the same time. It is a lot easier than dealing with individual car insurance policies. 

This translates to less paperwork and minimal time wastage. You and your team can focus on the core operations of your business. 


If one of your drivers cannot get individual insurance, your fleet insurance policy can include them. The policy can balance out the risk of the individual driver. The inclusive nature of fleet insurance gives it an advantage over other policies. 

It Is Cheaper

In addition to its convenience, fleet insurance can be much cheaper than taking out many individual policies. Depending on the size of your fleet, you may be able to save a lot of money on insurance premiums. 

Your insurance provider is likely to give you a good deal. Your fleet is worth more than an individual policy. Fleet insurance improves your negotiating power. 


Fleet insurance offers an additional layer of flexibility. You have control over the vehicles you choose to insure and the policies you get. You can also decide whether the drivers access all vehicles or specific ones. 

While fleet insurance may not be your main priority as a small business owner, you would be wise to consider it. Fleet insurance will help you cover all your business vehicles simultaneously. It is more convenient than insuring one car at a time.

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