Who Needs Commercial Fleet Insurance?
Any company that owns two or more commercial vehicles needs fleet insurance. Commercial vehicles include:
- Cargo trucks or vans
- Construction vehicles
- Delivery vehicles
Commercial fleet insurance consists of one policy that covers your entire fleet.
What Damages Does Commercial Fleet Insurance Cover?
The most basic policies provide only liability coverage. If an employee is at fault in an accident involving a company vehicle, insurance will pay for damages. By law, all businesses must have liability coverage for company vehicles.
While only liability coverage is legally required, additional coverage can save your business thousands of dollars in repairs in the event of an accident. Consider the following types of coverage:
- Collision coverage for damages resulting from an accident
- Comprehensive coverage for other types of damage, such as flood, fire and vandalism
- Uninsured motorist coverage for accidents in which the other driver is at fault and uninsured
A commercial fleet insurance policy that includes collision, comprehensive and uninsured motorist coverage will protect the company's assets if an accident occurs.
Accidents can happen anywhere at any time. It is not always possible to prevent an accident, but you can protect your company by purchasing insurance coverage for your commercial fleet.