NEWS
Unit Composite Rating for Commercial Auto
A simpler way to manage large, complex fleets
Central now offers unit composite rating for commercial auto, simplifying how larger, more complex vehicle schedules are rated and managed. This enhancement expands our ability to write larger fleet accounts—a market we want to grow with you.
What are the key benefits?
– Reduces administrative touchpoints throughout the policy term
– Simplifies policy management for accounts with frequent changes
– Creates greater consistency and predictability for larger fleets
– Reduces back-and-forth on vehicle updates
Which accounts are a good fit for unit composite rating?
We designed unit composite rating for accounts with complex vehicle schedules, especially those with frequent changes throughout the policy term, including:
– Larger fleets, typically 50+ vehicles
– Middle market commercial auto risks
– Accounts with frequent vehicle additions or removals
– Accounts with strong management practices, preferred driver profiles, favorable loss history, and solid DOT scores
How does unit composite rating work?
Instead of rating each vehicle individually, we apply a single composite rate across groups of vehicles, reducing administrative work and creating a more efficient experience for both agents and policyholders.
What changes with unit composite rating?
Unit composite rating replaces frequent mid-term adjustments with a streamlined process.
– Eliminates mid-term endorsements when vehicles are added or removed
– Premium remains stable throughout the policy term
– Vehicle activity is tracked throughout the policy period
– Final exposure and premium are reconciled through a single end-of-term audit
Availability
Unit composite rating is currently available in most states and will become available in North Carolina on May 1. Availability in New York and Virginia is pending regulatory approval. It is not offered in Massachusetts.
