Fleet Insurance for Credit Unions in Illinois

Learn more about our fleet insurance coverages for credit unions and get a quote from one of our knowledgeable independent agents. Providing coverage to credit unions across Illinois, Indiana, and other states.

What is fleet insurance?

Insuring a fleet of similar vehicles needn’t require getting multiple insurance policies. Fleet insurance allows Illinois businesses with multiple similar vehicles to use one policy to insure them.

Fleet insurance provides a way for businesses with multiple vehicles to secure the necessary insurance protections under a single policy. Policies may offer coverages at a reduced rate.

When should businesses in Illinois get commercial fleet insurance?

Commercial fleet insurance is usually for five or more vehicles, and there’s usually no maximum limit. Most Illinois businesses with at least five vehicles should look at this type of policy.

For businesses with between one and four vehicles, individual vehicle policies might make more sense. Policies for two, three, or four vehicles may be bundled together, while remaining distinct policies.

What protections do fleet policies come with?

Fleet policies normally offer the standard auto protections that would be found in other types of commercial vehicle insurance policies. Available protections usually include:

• Personal Injury Protection (PIP): Might cover injuries sustained by occupants in company cars or trucks.
• Bodily Injury Liability Coverage: Might cover injuries sustained by individuals not in company-owned vehicles, such as occupants of other vehicles and pedestrians.
• Collision Coverage: Might cover damage sustained by a business’s vehicles in collisions with other vehicles.
• Comprehensive Coverage: Might cover damage sustained by a business’s vehicles in non-collision events, such as falling trees, hitting animals, vandalism, fire, and theft.
• Property Damage Liability Coverage: Might cover damage caused to other vehicles and property during collisions.
• Underinsured and Uninsured Motorist Coverage: Might cover collisions involving uninsured drivers, underinsured drivers, and hit-and-run accidents.

Is commercial fleet insurance available for all vehicle types?

Commercial fleet insurance is generally available for the many different vehicles that businesses might have. 

Policies are usually readily available for cars, vans, trucks, and trailers. They may also be available for specialized vehicles, although finding a policy for a specialized fleet could require the expertise of an insurance agent who focuses on commercial vehicle coverages.

What are Symbol 1 policies and Symbol 7 fleet policies?

There are generally two main types of fleet policies that businesses might get: Symbol 1 policies and Symbol 7 policies. These differ in what vehicles they insure:

• Symbol 1 normally provides insurance for all vehicles in a business’s fleet
• Symbol 7 normally only insures listed vehicles within a fleet, not covering others.

Whether businesses should get a Symbol 1 and/or Symbol 7 policy depends on the business’s vehicles, and also on how the vehicles are used.

Are fleet policies available for vehicles which get used seasonally?

Fleet policies generally are available for vehicles that see seasonal use. Such policies might have premium and coverage adjustments, and may give the coverages businesses need at a reduced rate.

An insurance agent specializing in commercial fleet policies can help businesses that have seasonally used vehicles find a policy for the vehicles.

Can businesses add or remove vehicles from a fleet policy?

Insurance companies understand that vehicles are sometimes added or removed from businesses’ fleets. It’s easy to add or remove a vehicle from a policy with the help of a knowledgeable insurance agent.

How much does it cost to insure a fleet of commercial vehicles?

The cost of commercial fleet insurance varies based on many factors, not the least of which are the number and type of vehicles. Vehicle age, where they’re typically parked, what coverages are chosen, and a business’s recent claims history are just a few of the other details insurance companies consider.

To find out how much insuring their fleet of vehicles will cost, businesses can work with an independent insurance agent. An independent agent can request customized quotes from several insurance companies.

Where can Illinois businesses find fleet insurance?

If your business has a fleet of vehicles to insurance, contact the independent insurance agents at L.A. Blanchette Insurance. Our Illinois agents will work closely with you to determine coverage needs, and then help you find a fleet insurance policy that has those needed coverages. Together, we can make sure your business’s vehicles are insured well.