As a busy business owner, you have many tasks to keep you running from dawn to dusk and beyond. With so much to do, the last thing you need is another concern that needs attention. You can eliminate one of your concerns if you decide to take out commercial fleet insurance. You need two or more vehicles to qualify as a fleet, and they can be different types, such as a company car and a delivery van. You can have the peace of mind that comes from knowing your vehicles have the coverage needed at an affordable price.

What Does Fleet Insurance Cover?

Commercial fleet insurance has three levels of coverage.

Comprehensive Full Coverage:
The comprehensive policy will offer your company the broadest range of benefits. While all policies have their own details and exclusions, your comprehensive fleet insurance covers theft, fire and third-party injury and damage. Additionally, this policy can cover damage to your company-owned vehicles and drivers.

3d render fleet delivery vehicles 1

Even though it is the most complete type of fleet insurance, you will likely find that the comprehensive policy will cost the most.

Third-Party Fire and Theft (TPFT):
The TPFT policy will cost less than a comprehensive policy. However, you will have substantially less cover. A standard TPFT covers injury or damage to third parties and property when in an accident. Adding the fire and theft to the policy means you have protection from fire damage, accidental as well as arson, and claims relating to theft or attempted theft.

Third-Party Only Coverage:
The third-party only coverage is the minimal amount of coverage available. In the event of an accident, the other person and their property are covered. Third-party only cover comes with the smallest price tag of the three types. However, can you afford to pay for medical treatment, repair vehicles and property, or replace your vehicles or property damaged beyond repair? Opting for third-party only fleet insurance could save you money immediately, but in the long run you could incur hefty expenses.

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Why Do I Need Commercial Fleet Insurance?

While you want to make sure your vehicles have sufficient cover, it can be challenging for a single person to keep up with dozens or even hundreds of individual policies. By opting for fleet insurance, you can free up some time to take care of other pressing matters.

Many business owners discover that providing insurance cover for a fleet is very cost-effective, especially when comparing the price to the cost of individual policies.

Maintaining legal compliance is vital for a business operating a fleet of vehicles. By purchasing insurance for a fleet, you can rest easy knowing that an insurance professional has your legal compliance under control.

why do i need commercial fleet insurance

Grace Insurance Experts

The team here at Grace Insurance is made up of insurance professionals with over 20 years’ worth of experience in the industry. Our brokers are passionate about providing our clients with the best insurance solutions possible at a price that is affordable.

Grace Insurance experts

We do not try to force clients into one-size-fits-most insurance cover. Instead, we take the time to listen and understand clients’ needs. Then we use our insurance skills to create a policy that will address the needs of our client.

Should you need to make a claim, you will discover that our professionals respond rapidly to your calls. We will help you cut through the red tape and get your vehicle back on the road.

Whether you have a fleet of two vehicles or 200, Grace Insurance will do what is needed to make sure you have the best insurance cover at an economical price. If you have questions, feel free to contact us. One of our insurance experts would be happy to get the information you need.

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