Commercial Fleet Insurance
Anyone managing a commercial fleet knows how important insurance is. With multiple vehicles on the road for extended periods of time, anything can happen. The company’s vehicles must be protected as well as employees and drivers. Whether you’ve got just a few vehicles or hundreds, finding the right commercial fleet insurance coverage is crucial.
What is Commercial Fleet Insurance?
Commercial vehicle insurance is something business owners must get when they have a fleet of at least five vehicles used exclusively for business purposes. By getting fleet insurance, you’ll ensure everything is covered, including the unique possible claims that come with this type of business.
Basic Coverage
The basic fleet insurance coverage is similar to regular auto insurance. This coverage includes:
- Third-party liability. This covers injuries and damages to others if you’re at fault in an accident. It also covers legal fees if someone sues you.
- Accident benefits. Accident benefits cover any expense you may incur as a result of a collision, such as medical bills or loss of income.
- Uninsured auto. This has you covered if you or one of your drivers gets into an accident with an uninsured driver.
- Collision covers. This offers physical damage coverage, which helps pay to either replace or repair your vehicle in the event of a collision, regardless of who is at fault.
- Comprehensive coverage. This offers coverage should your vehicles be damaged by something other than a collision such as fire, theft, vandalism, etc.
Additional Coverage
Because your vehicles aren’t just for personal use, there are plenty of other things you may want to add to your insurance policy, depending on how you intend to use your fleet. This list offers a few examples of optional coverage but is not exhaustive:
- Passengers. You’ll need additional coverage if you intend to transport people around for compensation.
- Goods and products. If your vehicles are being used for the transportation of physical products that belong to an end customer, you’ll want to make sure they’re protected. You can get coverage for the items while in transit, as well as for when they’re sitting in the warehouse.
- Reefer breakdown. This is a special type of insurance you need if you intend to carry fresh food such as meat or dairy that requires refrigeration.
The Cost of Commercial Fleet Insurance
If your business owns multiple commercial vehicles with multiple drivers, the cost of commercial vehicle insurance can quickly become high. While it’s a necessary expense, there are some things you can do to bring the cost of fleet insurance down:
- Be selective about who drives the commercial vehicles. Vet each potential employee thoroughly and ensure a clean driving record.
- Provide drivers with comprehensive and advanced training.
- Properly maintain each vehicle – oil changes, seasonal tires, etc.
- Install anti-theft devices to reduce loss and damage.
- Don’t file unnecessary claims on minor damage you can fix yourself.
Protect Your Fleet Today
Running a business with multiple commercial vehicles can get overwhelming very fast.
You don’t have to stress, though! Buckler Insurance is here to help you navigate every step of the process. We’ll go over the details of your business and figure out exactly what coverage you want. Then, we’ll find you the best rates and the best service! Get in touch today for a quote.
