If a business owner or operator uses more than one truck for transportation, they might consider getting trucking fleet insurance. Commercial truck insurance covers all vehicles under a single policy, regardless of size, type, or usage. It is a form of commercial auto insurance that provides liability and physical damage coverage for multiple trucks owned or used by a business. It is typically purchased as a blanket policy, meaning one must pay a single premium to an insurance company and get coverage for all vehicles.
Coverage of insurance
The insurance can cover different types of vehicles, such as cars, vans, buses, SUVs, and trucks of various sizes and purposes. For example, it can cover delivery trucks, commercial cars, and construction vehicles under the same policy. The policy can cover the vehicles regardless of their purpose or driver.
How does insurance work?
- The trucking fleet insurance works similarly to individual commercial truck insurance but with some differences. The main difference is that it does not need to insure each vehicle separately but as a group under one policy. It can save time and money and provide more flexibility and convenience.
- Another difference is that insurance often allows employees to drive any vehicle in the fleet and be covered if they cause an accident. It is called “any driver” or “any auto” coverage, and it can be useful if it has multiple drivers who switch between different vehicles frequently.
A person can choose from different types of coverage options, such as:
- Primary auto liability covers bodily injury and damage to drivers, other people, or their property in an accident.
- General liability covers bodily injury and damage to drivers, other people, or their property outside of an accident.
- Cargo legal liability covers the damage or loss of the goods or materials caused during the transport in trucks.
- Physical damage: This covers the damage or loss of own vehicles due to accidents, theft, vandalism, or natural disasters.
- Additional coverages: These optional coverages can enhance protection and meet specific needs.
What are the benefits of insurance?
- Cost savings: Buying fleet insurance can be more affordable than buying individual policies for each vehicle.
- Simplified management: Having one vehicle policy can make it easier to manage insurance. One can avoid dealing with multiple policies, premiums, renewals, and claims.
- Flexible coverage: Fleet insurance can provide more flexibility and customization than individual policies. It can tailor coverage to suit specific needs and preferences and adjust it as the business grows or changes.
- Risk reduction: Fleet insurance can help reduce the risk of being underinsured or overinsured and facing lawsuits or claims from third parties.
How to get insurance?
To get insurance, find a reputable and reliable insurance company or agent specializing in this type of insurance. A person can use online tools or platforms to compare different quotes and options from various providers or ask for referrals from other businesses in the industry.
The trucking fleet insurance is a type of commercial truck insurance that covers multiple trucks under one policy. It can provide liability and physical damage coverage for different kinds of vehicles a business uses for transportation purposes. It can offer cost savings, simplified management, flexible coverage, and risk reduction for companies that own or operate more than one truck.