All the criteria guiding to the auto insurance for individuals are valid for the fleet insurance. This, depending on the characteristics of a certain insurable group, may have special conditions in the hiring. Like the individual car insurance, for automobile fleet insurance, following things are important to consider:
- Compensation for accidental damage to the vehicle, or for theft;
- Compensation for material or personal damages caused by the vehicle to third parties
- Compensation to injured passengers of the vehicle (or its beneficiaries)
- Assistance to the vehicle and its occupants in the event of an accident or breakdown.
The insurance is contracted through a proposal. This, in turn, generates a policy, which is the contract between the insured and the insurer. The car fleet insurance usually depends on the analysis of numerous aspects, such as: number of vehicles, history of claims, behavior and characteristics of the insured group, bonuses, form of collection and circulation region, among others.
What determines the classification of car fleet insurance?
The set of two or more vehicles characterizes the car fleet insurance, which can be hired on the same insurer by a single legal or physical person. Depending on the insurer, there may be a requirement for a minimum number of vehicles to contract for this type of insurance.
When requested by a legal entity (company, association of employees of the same company, etc.), the guarantee against the risks covered may be extended to the vehicles of subsidiaries and affiliates, as well as directors and employees. In the case of an individual, it is possible to add, as beneficiaries, parents, children, siblings and spouse.
The difference between individual and fleet insurance is in the contract signed by the insured and the insurance company, being possible to include all cars in a single policy.