When your commercial fleet has the protection of insurance, you know that you are covered against unforeseen events. Insurance cover gives you peace of mind. Fleet insurance protects your fleet against damage – the level of protection being dependent on the type of cover you opt for. Commercial Fleet Insurance covers are very similar to regular vehicle policies – but with added benefits specific to fleet purposes.
What are the types of fleet insurance cover?
A commercial fleet insurance policy offers similar coverage to regular vehicle policies, with some enhanced custom features that are specific to fleet purposes. The cover ranges from third-party liability to a fully comprehensive cover. Comprehensive cover is the most expensive type of cover and the safest. It protects you against theft, fire and third-party injury and damage. It also covers its own damage.
Fleet insurance products cover most vehicle types like cars, vans, buses and trucks. Apart from this, insurers also offer an all-encompassing cover to fleets that feature an assortment of vehicle types.
Auto liability insurance covers injuries or damage to other people or property if you are at fault in case of an accident.
Motor Truck Cargo
Motor Truck Cargo insurance provides coverage on the freight or commodity hauled by a truck. It covers cargo that is lost or damaged due to causes such as fire, collision etc.
From damage in an accident to natural disaster to vandalism or theft. Physical damage coverage is offered so that your fleet and driver are protected.
Most fleet insurance providers offer these covers either as standard or as optional extras. The optional extras are counted as add-ons to the policy and are charged accordingly.
Fleets typically pose a higher insurance risk. They spend a lot of time on the road, often in stressful environments. Vast fleets consist of an assortment of vehicle makes age, condition and varied application. The skills, alertness, physical health, and mental health of the drivers too vary. These variables affect the value of each vehicle, which makes it difficult to evaluate the overall risk. Drivers spend long hours on the road, which induces stress and tiredness, exponentially raising the risk of the driver’s involvement in an accident and vehicle damage. Companies that use their fleet to transport hazardous materials such as chemicals, fuels, etc also pose an enormous risk. Should a vehicle transporting such materials be involved in a crash, the damage caused to the vehicle, driver, other road users and environment is significant. Companies that offer goods transit services also pose a higher risk owing to the long hours spent by the drivers on the roads and the valuable nature of the cargo that entails a risk of theft.
The above few cases are just a few examples intended to illustrate the varied nature of fleets and the failure of a one-glove-fits-all nature of a policy. Commercial fleet insurance offers custom-suited covers that take into account the increased risk and also offers specialist covers wherever deemed necessary. They protect your fleet from damage, thereby ensuring your peace of mind as well as your crews’.
What Tangerine can do for you
Tangerine brings to you an innovative complete solution combining commercial fleet insurance with fleet management tools and compliance offering to protect your drivers, trucks while you focus on your core operations. Rest assured, your fleet is well protected.
Tangerine’s Next-Gen Commercial Fleet Insurance with Video Telematics provides specific coverage and risk management options to businesses operating fleets of all sizes at a reduced insurance premium. By integrating Tangerine’s video-based insurance telematics solutions into your fleets, we not only protect your trucks and drivers but also reduce costs, increase efficiency, improve your overall operations, and provide the coverage you need at the best rate.
Tangerine’s niche expertise provides the products you need and the service you deserve to get back on the road faster. We understand your needs and share your concerns. We have programs that fit your fleet requirements perfectly so that you can drive with confidence.
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- How Commercial Fleet Insurance Protects Fleets Against Damage. October 1, 2021
- What is Commercial Fleet Insurance & How It Adds Value August 24, 2021
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- Why Insurance Telematics is The Future Of Fleet Insurance August 16, 2021
- Telematics: How Fleet Managers Save On Commercial Truck Insurance July 21, 2021