The cost to insure commercial fleets continues to rise. With inflation climbing, economic uncertainty and a fluctuating insurance market, a number of fleet carriers could face costly insurance renewals this year. However, best-in-class fleet carriers have reason for optimism. Those with excellent driving records, a well-developed safety program and favorable loss experience backed up by telematic data will see low single-digit increases — or even a slight rate reduction — which will help them weather rising operational costs. But carriers with high accident frequency and substandard driving scores can expect at least 5% to 10% rate hikes and face increased deductibles

Join for free to read