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What Our Plans Cover
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Third-party liability across every...
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Own damage across the fleet
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Statutory crew cover for drivers a...
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Natural calamities and man-made pe...
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Automatic cover for newly acquired...
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Towing and removal
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Agreed claims handling and reporti...
Who Can Consider This Plan?
- Vehicle registered in India with a valid registration certificate
- Valid driving licence for the class of vehicle
- Vehicle fit for use — a failed fitness certificate affects commercial cover
- Accurate declaration of use: private, commercial, or hired out
- Previous insurance details, where no-claim bonus is being carried forward
What May Not Be Covered?
- Vehicles not declared, or declared outside the agreed window
- Use outside the declared purpose for any vehicle in the schedule
- Goods carried in the vehicles, which need separate transit cover
- Drivers without the correct licence class
- Consequential and business interruption losses
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
A fleet policy covers several vehicles under a single contract with one renewal date and one schedule. Beyond about a dozen vehicles it is almost always cheaper and dramatically easier to administer than individual policies.
The more important difference is how it is priced. Individual policies are rated on published tariffs and the vehicle's own history. A fleet is rated on the fleet's claims experience — which means an operator with disciplined drivers, maintained vehicles and a low claims ratio can negotiate terms that no individual policy would offer.
That works in both directions. A poor claims record follows the fleet into every renewal negotiation, which is why loss-ratio management becomes a commercial activity rather than an administrative one.
Who should consider it
Any operator running roughly fifteen vehicles or more — transport companies, logistics operators, distribution businesses, corporate car fleets and rental operators.
It is also worth considering below that threshold where vehicles are added and removed frequently, because a fleet policy handles movements through a declaration rather than through a new policy each time.
Benefits
- One policy, one renewal date and one schedule across the whole fleet
- Pricing driven by your own claims experience rather than a standard tariff
- Vehicles added and removed mid-term by declaration, without new policies
- A single claims relationship, usually with a named handler
- Consolidated reporting that makes loss ratios visible and manageable
- Negotiating leverage that individual policies never provide
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Third-party liability across every declared vehicle
- Own damage across the fleet
- Statutory crew cover for drivers and attendants
- Natural calamities and man-made perils
- Automatic cover for newly acquired vehicles within a declaration window
- Towing and removal, fleet-wide
- Agreed claims handling and reporting arrangements
Typically not covered
- Vehicles not declared, or declared outside the agreed window
- Use outside the declared purpose for any vehicle in the schedule
- Goods carried in the vehicles, which need separate transit cover
- Drivers without the correct licence class
- Consequential and business interruption losses
- Wear, tear and mechanical breakdown
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 Send us the vehicle details Registration number, make and variant, year, and your current policy if you have one. Thirty seconds of typing.
- 2 We check what you are actually insured for IDV, add-ons, voluntary excess and no-claim bonus. Most renewals we see carry an IDV set years ago and never revisited.
- 3 Two or three quotes, compared on cover and not on price With the garage network in your city and each insurer's claim record put next to the premium.
- 4 Inspection where the law requires it A break in cover or a mid-term insurer change means an inspection. We arrange it, usually by video.
- 5 Policy issued, and we handle the claim when it comes You call us at the garage, not a helpline. We deal with the surveyor and the settlement.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Your loss ratio becomes the price. Driver training, telematics and a policy of not claiming for trivial damage move the renewal number more than shopping the market does.
- Declaration discipline is the operational risk. A vehicle bought and not declared within the window is a vehicle with no cover, and this is the most common failure in fleet programmes.
- A higher deductible across the fleet usually buys a meaningful premium reduction. It only works if you have the cash discipline to absorb small claims internally.
- Cargo is still separate. A fleet motor policy insures the trucks, not what is inside them.
- Ask for claims reporting from the outset. A fleet you cannot measure is a fleet you cannot negotiate on at renewal.
Documents required
- Registration certificate (RC) of the vehicle
- Previous policy copy, for no-claim bonus and continuity
- Driving licence of the owner or the usual driver
- Identity and address proof
- PAN card, where the premium crosses the reporting threshold
- Invoice or delivery note, for a new vehicle
- Vehicle inspection report, where there has been a break in cover
Frequently Asked Questions
How many vehicles do I need for a fleet policy?
Most insurers begin around fifteen, though some will look at smaller numbers where the vehicles are similar or movements are frequent. The practical trigger is often administrative rather than numerical — the point at which separate renewal dates become unmanageable.
How are vehicles added during the year?
By declaration. New vehicles are covered from acquisition provided they are declared within the agreed window, with premium adjusted pro rata. Missing that window is the single most common gap in fleet programmes.
Is a fleet policy actually cheaper?
Usually, and increasingly so as the fleet grows and its claims record improves. The saving comes from experience rating rather than a simple bulk discount, which is why loss-ratio management pays for itself.
Does a bad year permanently raise my premium?
It affects the next renewal materially, but experience rating cuts both ways — a disciplined year following a poor one is visible and negotiable. Insurers look at trend as well as level.
Does it cover the goods we transport?
No. As with any motor policy, the cargo requires separate transit cover. For a logistics operator that is usually arranged as an annual open marine policy alongside the fleet motor programme.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.