Fleet Insurance in all localities throughout Virginia, USA
If your business owns and operates three or more vehicles as part of its daily operations, you may be eligible for a fleet insurance policy. These plans resemble a commercial auto policy that covers many vehicles at the same time, helping you to meet coverage requirements at an affordable rate.
Industries that can benefit from fleet insurance coverage include:
- Taxi services
- Delivery services
- Government agencies
- Vehicle rental companies
- Any other company that operates a fleet of vehicles
- Construction companies (including those with large construction vehicles like bulldozers)
As of 2013, the Bureau of Transportation Statistics found that there were over eleven million fleet vehicles in service, with government and rental use seeing the most growth over the years.
Fleet Insurance Features: Commercial Auto Insurance
Commercial vehicle policies are a major part of fleet insurance and they cover the vehicles themselves against damage and loss.
In most cases, fleets that focus on services (handymen, locksmiths and similar professions) will see the largest discount on their premiums. Vehicles used for retail work, such as delivering food or flowers, usually see a more moderate reduction in premiums. Finally, companies that ship either people or large volumes of products see the lowest reduction, simply because there tends to be more damage in a collision. The current average is more than $20,000 for each incident and since fleet drivers tend to be on the road far more than the average person, there's a greater likelihood of a collision sooner or later. However, this is when having the proper insurance coverage becomes invaluable.
What's Covered by Fleet Insurance
The main component of fleet insurance is its blanket coverage of vehicles and employees ― any employee will be insured while driving any vehicle in your fleet unless they've been specifically excluded from the policy. This is ideal for companies where vehicles frequently have different drivers, as well as companies that have vehicles out on the road on a regular basis. All fleet insurance policies will meet or exceed the minimum amount of coverage required for commercial vehicles in your area.
If you're not sure whether a vehicle you use qualifies for coverage under a fleet policy (for example, you have a privately owned vehicle that's also used for business purposes), talk with a Galax Insurance agent and they'll let you know if your vehicle is eligible.
"Do You Know the True Cost of Fleet Accidents?" Telogis Blog. Accessed April 27, 2016.