Fleet Insurance

Fleet of vehicles parked in parking lot for rent or delivery

There are many reasons for a business to own vehicles. You may offer them to your sales team so that you know they have a late-model vehicle in which to represent your company. Also, you might have delivery vans or trucks to get your products or service technicians to your customers. Or, you might have vehicles used to work your business, like farm equipment or contraction equipment. Whatever the case, if you own business vehicles, you need fleet insurance.

What is fleet insurance?

Fleet insurance is a type of business insurance that helps you mitigate the liability associated with having cars, trucks, vans and other vehicles that you use in your business. Typically, you need at least three vehicles to qualify for fleet insurance. This coverage protects your investment in the vehicles when they are damaged in an accident or mother-nature. Also, fleet insurance offers you liability coverage to pay for damages that your employees cause while in a company vehicle, both damage to property and injuries to people. Unlike personal insurance, a covered employee can generally operate any vehicle in the fleet under the policy, not just a specific vehicle.

The risks of not having fleet insurance

There are several risks associated with not having fleet insurance. For instance, allowing your employees to operate your company vehicles without the basic liability coverage required by law. Your employees could lose their driving privileges and your company could face a large fine. However, just as important is that without insurance, you risk losing your investment in the vehicles should they be damaged. You could likely get sued if your employees cause damage to others.

To learn more about fleet insurance and to schedule a free insurance review, contact our commercial insurance team. The Perry Insurance Group has been helping Midlands area business owners for more than 30 years. In addition, we have four locations to best serve you and are also licensed in North Carolina, Tennessee, Ohio, Texas, Kentucky, Michigan and Virginia.