What Does a Commercial Auto Fleet Insurance Policy Cover?

A commercial auto fleet insurance policy is a type of insurance that covers a group of vehicles that are owned or leased by a business. It is designed to provide coverage for vehicles that are used for business purposes, such as delivery vehicles, company cars, and other types of vehicles used for business-related activities.

A commercial auto fleet insurance policy typically covers the following types of vehicles:

1. Cars: This includes sedans, hatchbacks, and coupes that are used for business purposes.

2. Trucks: This includes pickup trucks, delivery trucks, and other types of vehicles used for transporting goods.

3. Vans: This includes minivans and full-size vans that are used for business purposes.

4. Specialty vehicles: This includes vehicles such as limousines, buses, and other types of specialty vehicles that are used for business purposes.

A commercial auto fleet insurance policy typically covers the following types of damages:

1. Physical damage: This includes damages to the vehicle resulting from an accident, theft, or other covered event.

2. Liability: This covers damages or injuries that you or one of your drivers may cause to another person or their property while operating a vehicle covered by the policy.

3. Medical payments: This covers medical expenses for you or your passengers if you are involved in an accident while operating a covered vehicle.

4. Uninsured/underinsured motorist coverage: This covers damages or injuries that you or your passengers may suffer in an accident caused by an uninsured or underinsured driver.

It's important to note that the specific coverage provided by a fleet auto insurance policy can vary depending on the specific policy and the insurance company. It's always a good idea to carefully review the terms and conditions of your policy with you agent to understand exactly what is covered.

What to look for in a commercial fleet vehicle insurance policy for your company

There are several key factors to consider when selecting a fleet vehicle insurance policy for your
company:

1. Coverage: Make sure the policy provides the coverage you need for your specific fleet of vehicles. This may include liability coverage, collision and comprehensive coverage, medical payments coverage, and uninsured/underinsured motorist coverage.

2. Deductibles: Consider the deductible amounts for different types of coverage. Higher deductibles can lower your premiums, but may not be financially feasible if you have a large number of claims.

3. Limits: Make sure the policy limits are sufficient to protect your business in the event of a claim. This includes the per-vehicle limits and the aggregate limits for the entire fleet.

4. Exclusions: Review the exclusions in the policy to ensure that you are not inadvertently excluding coverage for certain types of vehicles or activities.

5. Claims process: Consider the claims process and the level of support provided by the insurer. It is important to have a smooth and efficient claims process in the event of an accident or loss.

6. Cost: Compare the cost of different policies to ensure you are getting the best value for your money. Be sure to also consider any discounts or incentives that may be available.

Overall, it is important to carefully review and understand the terms of a fleet vehicle insurance policy before making a decision. It is highly recommended to work with a professional insurance agent to help you find the right policy for your business needs. Contact us now for a quote.