Fleet insurance is essential for businesses that operate vehicles. Depending on the type of vehicle and intended use, policies vary in cost. However, it is important to remember that a single high risk driver can cause rates to go up significantly.
The cost of fleet insurance is affected by many variables, including vehicle repairs, medical expenses and third party liability coverage. In addition, telematics data can lower the cost of a policy.
Coverage for a variety of vehicles
If you have a fleet of vehicles in your business, it’s important to consider getting fleet insurance. This type of policy will allow you to insure a variety of vehicles under one policy, which can save your company time and money by streamlining the process. Fleet policies can be customized to include coverage for all types of vehicles, including cars, buses, vans, trucks, and even construction vehicles like tractor-trailers.
Some companies may also choose to include coverage for specific accessories that may be attached to a vehicle, such as GPS navigation units or communications radios. This can be a great option for businesses that need to equip their fleets with expensive devices and still want to be able to insure them under a single policy.
Another thing to consider is the type of work your fleet does. For example, if you have a lot of deliveries, your rates will likely be higher than a company that uses their fleet for other types of work, such as construction or transportation. Also, the more miles your vehicles drive, the more they will lose value over time, which can lead to a higher premium.
If you are looking for a fleet car insurance policy, make sure to discuss your needs with an experienced insurance agent. They can help you decide which coverages are best for your business and recommend a provider that meets those needs.
Coverage for a variety of drivers
Fleet insurance can help businesses manage multiple drivers under one policy. This can be helpful if any of the vehicles in your business have been driven by young or high risk drivers, who might otherwise see their premiums significantly increased with individual car insurance policies. If you’re interested in learning more about how to effectively reduce the cost of your fleet insurance, speak with a BrokerLink expert.
A few of the main coverages available under fleet insurance include property damage liability, bodily injury liability and uninsured motorist coverage. Property damage liability helps to cover the cost of repairing or replacing any damaged vehicles in your fleet as a result of an accident. It can also help cover the cost of towing, lost keys or lockout service for any vehicles in your fleet that are disabled on the road.
Depending on the needs of your business, you may choose to add additional coverages or tailor your policy further. For instance, some businesses choose to include a deductible in their fleet policy, which can help lower the cost of their premium. However, before making any changes to your policy, speak with a BrokerLink expert to ensure that it will still meet your business requirements. You can also increase the deductible to reduce your premium even further, but only if it makes sense for your business.
Coverage for a variety of situations
When it comes to fleet insurance, there are many different options available. For example, some policies include a physical damage component that covers any repairs or replacements your vehicles might need after an accident. Other policies may include the cost of legal proceedings in case an employee gets injured while driving a company vehicle. The type of coverage you need will depend on the needs of your business.
In addition, you can often get a lower rate for your policy by having all drivers take part in a driver safety program. This demonstrates to the insurer that your company is serious about keeping everyone safe while on the road. You might also want to consider having one of your managers become fleet certified, as this can be another way to save on your insurance costs.
In general, fleet insurance ends up being less expensive than individual policies for each vehicle. It can also be more convenient, as you only have to deal with one renewal date instead of several. And it’s a great option for businesses that operate many vehicles and need a high level of coverage. For more information, talk to an insurance broker today. They can explain the rules and regulations in your area and provide you with a quote for fleet insurance. assurance flotte