If your business provides vehicles for your employees to transport equipment, products, or services, you probably require commercial fleet insurance. The reason that most companies choose fleet insurance is because of the price. If you were to purchase fleet insurance, it would cost you less than individual policies for every vehicle. In addition, the coverages may cater to your business’s specific requirements.
Industries That Use Fleet Insurance
Any business that uses multiple vehicles may benefit from fleet insurance. However, the industries that benefit the most include:
- Oil and gas
- Equipment dealers
An accident with one of your company’s vehicles can be devastating. Not only can it cause extensive property damage, but any injuries could be your responsibility. The insurance coverage pays for medical bills and may even pay out settlement costs.
Coverages of Fleet Insurance
Commercial vehicle fleet insurance can provide you with liability and collision coverage. In addition, your company may have coverage for medical costs, towing costs and loading and unloading protection. For example, if products or other items become damaged when loading, your fleet coverage can help pay for damages.
There is a wide range of industries that can benefit from fleet insurance. Whenever your company owns multiple cars, makes deliveries or requires transportation to deliver services, you should heavily consider fleet insurance.