Types of Fleet Insurance

Fleet Insurance

If your business relies on 18-wheelers, box vans, or other vehicles to operate smoothly, you must have fleet insurance. The right policy protects your business, your employees, and other people on the road should the unexpected happen.

Basics of Insuring Your Fleet

There are several types of fleet insurance. Taxi insurance covers any vehicles you have that transport other individuals and should cover a wide variety of vehicles. Telematics coverage provides tracking devices for you to receive information on where your vehicles are going, how they are performing, and more. Telematics can sometimes even lower your rates. Light goods coverage handles your crew cabs, box vans, and other commercial vehicles that way less than 7.5 tons. Finally, truck coverage is what you’ll need if you own 18-wheelers or other very large vehicles.

How Fleet Coverage Is Charged

Insurance agencies charge for fleet insurance in several ways, but the most common include gross revenues, mileage-based, or scheduled vehicle charges. Gross revenues require you to pay a premium rate and is best for companies who expect to be adding units in the near future. Mileage-based policies are good for companies that drive the same routes every day without much fluctuation. Finally, scheduled vehicles charging is best if you have a small fleet and do not expect to add more units in the near future.

Are you ready to give your business the best protection possible? Your insurance agent can help you determine which policy best fits your needs and your budget.

This post was written by , posted on June 1, 2020 Monday at 2:52 pm