Running multiple trucks? A fleet policy could save you thousands annually. Here's how to compare your options and decide what makes sense for your operation.
Once you have more than one truck, you face an important decision: insure each vehicle individually or bundle them under a single fleet policy. The right answer depends on your fleet size, the types of vehicles you operate, and your drivers' records.
Individual policies give you flexibility — you can tailor coverage for each truck and driver separately. But managing multiple policies means multiple renewal dates, multiple payments, and more administrative headaches.
Fleet policies simplify everything. One policy, one renewal date, one payment. And because insurers give volume discounts, you'll almost always pay less per truck with a fleet policy than with individual policies.
The break-even point varies by insurer, but most carriers start offering fleet rates at 3-5 vehicles. Some will go as low as 2 trucks if they're the same type.
One important consideration: fleet policies typically use a "scheduled driver" or "any driver" approach. Scheduled driver policies list specific drivers and are cheaper but less flexible. Any driver policies cover anyone with a valid CDL but cost more.
Our team at Florida Truck & Transport Insurance can run the numbers for your specific fleet and show you exactly how much you'd save with a fleet policy.