Fleet insurance is crucial for protecting your driver’s welfare during and after traffic accidents and incidents resulting in personal injury. It also goes a long way in shielding them from liability. This is why it`s crucial to get fleet insurance that covers all your vehicles. Nothing is worse than spending money on fleet insurance only to know that some of your vehicles are not eligible for it.
Vehicles Covered By Fleet Insurance
Fortunately, motor fleet insurance is all-encompassing when it comes to vehicles. If you are in an industry that depends on a fleet of vehicles to function, chances are your vehicles are covered by fleet insurance. Most insurance companies operate under the “any vehicle” policy, which means they will accept any vehicle type as long as it fits the description of a fleet vehicle.
Cars
When it comes to cars, fleet insurance covers all 4-door normal-sized cars, similar to those used in taxis. When it comes to cars, almost all makes and models are covered by insurance. Of course, more expensive models will require more premiums for complete coverage.
Motorcycles
Motorcycles are also covered by fleet insurance. Aside from motorcycles, scooters and electric bikes are also eligible for fleet insurance as long as it is proven that these are used for commercial purposes, such as food delivery, courier services, and more.
Buses
Fleet insurance covers all buses and minibusses used commercially, such as those in the public transport sector. These also include buses used to shuttle employees back and forth from their workplace.
Vans
Similarly, vans and minivans used to shuttle employees around are eligible for fleet insurance. The same is true for vans and minivans used for the service sector, such as carpet cleaners, pest exterminators, gardeners, locksmiths, and more.
HGVs and LGVs
Heavy goods vehicles and light goods vehicles are both covered by fleet insurance. Examples of HGVs and LGVs covered by insurance include trucks used to deliver raw materials, fuel, goods, and others.
Construction Plants
In the construction industry, plants refer to the various machines usually found on construction sites, such as bulldozers, excavators, and cranes. These machines are also covered by fleet insurance.
Fleet Insurance Exclusions
So does this mean that any vehicle can be covered by fleet insurance? Not really. However, exclusion or ineligibility from fleet insurance depends less on the type of vehicle you have and more on how you use it and what types of claims you make with it.
While insurance companies differ slightly in requirements, here are some things that are true for all:
- All types of vehicles are accepted under fleet insurance. The problem lies in whether your company can be considered a fleet. Some insurance companies have a lax definition of fleet and will approve insurance for any company with more than one vehicle. However, some insurance companies will require you to have around three or five vehicles to be considered a fleet.
- Because the insurance is for vehicles acting under the definition of a “fleet,” these vehicles must be used for commercial purposes. Any vehicle registered with the company but mainly used for personal purposes by management might encounter problems with eligibility.
All in all, eligibility for fleet insurance shouldn`t be a problem, no matter what type of vehicle you have. Insurance companies even allow multiple types of vehicles under one policy. Because eligibility for fleet insurance is easy and very forgiving, there`s no reason why you shouldn`t give one for your fleet and get your drivers the protection they deserve.
