Do you own a business that relies on sending your employees out, into the field, in a company-owned vehicle? Does your team transport materials or goods, handle jobs, find new business, or visit clients?
If you have more than one vehicle used mainly for business purposes, then purchasing fleet insurance can help protect them and you. However, if you aren’t sure what fleet insurance is or why it is important, keep reading.
Here you can learn about this coverage and how it can benefit your business.
Fleet Insurance Defined
Fleet insurance, like what is offered by sodeninsurance.com, is designed to provide coverage for multiple vehicles with one policy. It covers multiple drivers and vehicles and is needed to protect your team and business.
It is necessary because you are expected to provide a safe work environment for your team as a business owner. If you lease or own vehicles, no matter how many, commercial fleet insurance is needed.
What Is Considered a Fleet?
The provider you use defines what is considered a fleet. This number varies from one carrier to another.
You can find fleet insurance vehicles for everything from two vehicles up to 500. However, there are also more extensive policies that will cover bigger fleets that have several thousand vehicles.
What Does Fleet Insurance Coverage?
Fleet auto insurance will cover drivers, vehicles, and anything they impact because of an accident. Some policies include construction vehicles, too.
Business materials, like products, tools, and other items in the vehicle when an accident occurs, are not covered by fleet insurance. Even though your personal insurance policy may cover any personal items you have, fleet insurance usually does not.
If you have expensive equipment or valuable items in your vehicle, it is smart to purchase liability insurance coverage. This provides coverage if something is lost, stolen, or damaged.
Are There Any Coverage Exclusions?
It is a good idea to find what vehicles are covered by the policy they offer. Usually, things like excavators, forklift trucks, and motorbikes are excluded from this coverage.
Most insurers will reject vehicles that are already covered under a private, separate policy. Also, fleet insurance policies don’t cover some types of claims. Some of these claim exclusions include:
- Mechanical breakdowns
- Damage to tires
- Vehicle theft due to negligence
It is best to speak to the insurer to see if there are any other exclusions you should know about.
Purchase Fleet Insurance to Protect Your Vehicle and Business
As you can see from the information here, fleet insurance protects your vehicles, your employees, and your business. You really can’t afford to have employees on the road without this coverage.
When it comes to your vehicle, regardless of whether you use it personally or for business needs, keeping it protected is necessary. To learn more about vehicles and properly protecting them, be sure to read some of our other blogs.