Canadian Accredited Insurance Broker (CAIB) Three Exam 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 400

How many vehicles must an insured own or control to qualify for a fleet policy?

Two or more

Three or more

Four or more

To qualify for a fleet policy, an insured must own or control four or more vehicles. Fleet insurance is designed to cover multiple vehicles under a single policy, which streamlines administration and can often result in lower premiums compared to insuring each vehicle individually. The requirement for a minimum number of vehicles is established by insurance providers to ensure that the policy is utilized by businesses or individuals who have an ongoing need for coverage across multiple vehicles, rather than for those who may have only a couple of vehicles that do not constitute a fleet. This structure allows insurers to manage risk more effectively and provide tailored coverage options for varied vehicle types and uses typically found in fleet operations.

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Five or more

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