El fleet insurance Not only is it necessary for companies, but it also provides great peace of mind, knowing that they will be protected if one of their vehicles suffers an accident. At Euroteide Seguros we are specialists in insurance advice, so if you have any questions about this type of policy, you can contact us without any obligation.
And, now, allow us to explain in more detail what Car Fleet Insurance is, what coverage it offers and what its advantages are.
What is fleet insurance?
Companies that have a fleet of vehicles must manage it efficiently, always being aware that there are a series of risks inherent to the ownership and use of this type of vehicle, such as the possibility of an accident or that the car, van or truck is stolen. Precisely for this reason, Fleet Insurance exists.
This is a policy that covers several vehicles under a single coverage structure. In simpler terms: A single policy serves to cover different vehicles (a fleet).
It's insurance very flexible, capable of adapting to the needs of each organization, because neither the risks nor the necessary coverage are the same when it comes to company cars, parcel vans or trucks. In some cases, these policies may also cover non-land vehicles, such as boats or aircraft.
Since there is a single policy, insurance management is greatly simplified. This facilitates tasks such as the renewal or processing of reports in the event of a covered loss. It is, therefore, a specialized insurance tool that offers comprehensive coverage for several vehicles that belong to a single entity. A somewhat more complex product than mere car insurance for companies.
What does this insurance cover?
Fleet Insurance coverage can be adapted according to the needs of each client, but there are some that are basic and are present in practically all of the policies contracted.
Civil liability for damages to third parties
The Civil Code determines that, when a action or omission causes damage to third parties or their property, the person responsible for them must compensate those affected. This is what is known as civil liability.
This is the most important coverage in vehicle insurance, whether or not it is fleet insurance. It implies that the The insurance company will be responsible for paying the corresponding compensation. if the insured has caused an accident that has caused physical damage to people or has affected property owned by them.
Legal defense
It is not strange that accidents can lead to some type of conflict between those involved. Even in cases where there is no controversy, in a situation of this type, it is always a good idea to have specialized advice.
Hence, Fleet Insurance also includes coverage for the policyholder's legal defense, whether he or she receives a claim from those affected or wants to resolve doubts related to the accidents.
Replacement vehicle
Having a fleet vehicle go through the workshop as a result of an accident can mean a significant loss of money for the company that owns it, because it implies, among other things, that salespeople cannot travel, or that the distribution of merchandise will not flow correctly because a van or truck is missing.
Therefore, it is common for Fleet Insurance to cover replacement vehicle coverage. In this way, while the policyholder is deprived of his vehicle You can access another one that does the same function.
Protection against theft
In these cases, there are two variants: the first of them covers the theft of the vehicle itself, and implies that compensation is charged if this happens.
The second variant is the one that covers the merchandise and possessions that may be inside the vehicle. Even if the car, van or truck is not stolen, the Insurance pays the policyholder the amount of the goods that were inside and that have been stolen.
It is also common to include in these Insurances other common coverages such as the repair or replacement of windows in case they suffer damage, or compensation in case the vehicle catches fire.
Advantages of having fleet insurance for your company
For companies, this type of policy offers a series of advantages with respect to contracting individual insurance for each vehicle, as we will see below:
comprehensive coverage
These Insurances guarantee protection against a wide variety of risks. This includes accidents, vandalism, damage caused by atmospheric phenomena and physical damage or theft. So, the company safeguards the investment it has made in its vehicles.
Normative compliance
According to Spanish legislation, it is absolutely mandatory that all vehicles have insurance contracted we cover your civil liability. A coverage that, as we have seen before, is basic in fleet insurance.
Therefore, when a company takes out a policy of this type, it is ensuring that it complies with regulations, something that will avoid sanctions and possible problems in the future.
Efficient risk management
The materialization of an unforeseen risk, such as one of the vans in the fleet suffering an accident, can increase company costs at a time when it may have liquidity problems.
With fleet insurance, These types of incidents are not an economic problem, because the repair cost is covered.
Operating efficiency
As we said before, since there is a single policy that covers all the company's vehicles, Any procedure between the insurer and the policyholder entity becomes much simpler and faster to carry out.
Fleet insurance offers multiple benefits to companies that hire it, so it is worth evaluating the possibility of having a policy of this type. If you search the best insurance for your business vehiclesAt Euroteide we are here to advise you and resolve your doubts. We will wait for you!