Fleet insurance is an essential coverage option for companies that use vehicles in their day-to-day operations. It can protect these businesses from a variety of risks, including physical damage to their cars and liability for accidents caused by employees behind the wheel.
Fleet policies can be customized to include a variety of features. Some of these include:
Coverage for multiple vehicles
Fleet insurance offers business owners the flexibility of being able to insure multiple vehicles under one policy. In the case of an accident or damage, they can make a single call to the insurer and have a vehicle arranged to be replaced immediately. This type of insurance generally costs less than having individual commercial car policies for each vehicle in the fleet. It also allows the business to prioritize drivers based on driving experience and record, and even consider enrolling employees in defensive driving courses to help keep rates low.
Physical damage coverage is also available for fleet vehicles and can protect against events that are outside of the driver’s control, such as weather or vandalism. This type of coverage can be very helpful if your business uses expensive accessories in your commercial vehicles, such as GPS navigation units or communication radios. They can be very expensive to replace or repair if they are damaged or stolen.
Coverage for a variety of vehicles
Fleet insurance is not restricted to one type of vehicle and often covers a wide range of vehicles, from cars to trucks to bulldozers. This means that businesses with different needs can get the protection they need without having to create multiple policies or pay more for higher limits of coverage.
Depending on the type of business and its fleet, some policies may include medical payments (MedPay) or personal injury protection (PIP). These types of coverage help drivers and passengers who are injured in an accident regardless of who is at fault.
Fleet policies also can be customized to cover a variety of different situations, including weather events and theft. Some providers even offer a usage-based policy that helps businesses lower their premiums by tracking driver behavior and ensuring they are operating their vehicles safely. This type of policy is not available with all insurers and requires that all drivers agree to have their driving data tracked.
Coverage for physical damage
Most states require businesses to carry liability insurance, and fleet auto policies often provide this coverage. It helps pay for the costs of medical expenses and damage to other people’s vehicles in the event of a work-related accident. It can also help cover the cost of replacing a damaged vehicle or for towing.
Another type of protection that many fleet auto policies include is collision coverage. This type of coverage pays for repairs or replacement to the fleet vehicle if it is involved in an accident, regardless of who was at fault. This coverage can be particularly useful for companies that use their fleet vehicles to transport merchandise or passengers.
Fleet insurance policies often have a streamlined claims process designed to help reduce downtime. Depending on the policy, some insurers may even offer to provide a temporary vehicle while the original one is being repaired. Keeping a fleet of vehicles in a safe location, such as a secure, locked garage, can also save money on commercial fleet auto insurance by helping prevent theft and vandalism.
Coverage for liability
The liability coverage in a fleet insurance policy protects the business owner if an employee in one of their vehicles causes property damage or bodily injury to another person. This type of policy can also cover legal fees and expenses. Additionally, it will pay for repairs or replacement of a vehicle if the company is found at fault in an accident.
In order to get the best rates on a fleet insurance policy, it is important to shop around and compare quotes from different insurers. Also, it is important to establish a good track record of safe driving among employees. This can be done by creating and implementing standard operating procedures that promote safety on the road. Additionally, it may be beneficial to have someone on the management team get fleet safety certification.
Other factors that affect the cost of a fleet policy include the type of vehicle, location and usage. For example, electricians and plumbers tend to pay the lowest rates for fleet insurance, while taxi companies and car rental services will usually have higher premiums. assurance flotte
