As your business grows, so might your number of work vehicles. We'll show you how your commercial auto insurance needs adjusting as you add to your fleet, and how you can keep pace.
businesses that might need commercial fleet insurance
From delivery to municipal work, there's almost no end to the number of jobs made possible by fleets. Here are some examples of businesses that could benefit from a commercial auto policy designed with a high volume of rides in mind:
- Street sweepers
- Sanitation departments
- Door-to-door sales
- Rental car companies
- And many more
commercial auto insurance adjustments for your fleet
There are some unique commercial auto insurance needs that arise when you go from a couple of company cars (and drivers) to dozens. And since keeping a fleet is typically one of a business's largest investments, protecting it should be a top priority.
Here are some main fleet insurance considerations when your company is expanding.
Increase physical damage coverage
Think about how much you value and worry about your personal car on a daily basis. And that's just one vehicle!
Having a whole fleet of vehicles means you have that much more to lose, and that many more reasons to make sure you have protection.
Don't let an accident threaten your profits and savings. Make sure you have plenty of physical damage coverage against collisions, vandalism, falling objects, and other risks. With commercial auto insurance through Esurance, you can even secure hired automobile coverage, which extends physical damage coverage to work vehicles you rent out on a short-term basis.
Raise your liability coverage limits
Say you run a small contracting company with a close friend and only a couple of pickups. Since you know where your vehicles are going and how they'll be handled, you may opt for insurance limits that reflect that.
But imagine you have a fleet of cars or trucks and a bunch of employees who you don't really know driving them. (The future looks a little more uncertain now.)
By opting for higher liability coverage, you can help ensure that if one (or more) of your employees cause accidents, the business won't be left vulnerable.
Protect your products
The more fleet vehicles your business has, the more merchandise and equipment is out of your control. Luckily, by adding inland marine coverage to your policy, you can get protection for your company's valuable products when they're in transit, in a vehicle, or at a work site.
Invest in roadside assistance
While most companies replace fleet vehicles regularly, breakdowns are still possible. Towing and labor can get expensive when it comes out of your own pocket — and there's no guarantee your fleet drivers will handle an emergency situation correctly.
By adding roadside assistance to your fleet insurance, you can provide your employees with a clear number to call if they ever get stranded and keep wear and tear from chipping away at your bottom line.
Keep your insurer in the loop
If the size of your fleet is changing, it's important to make sure your insurer is up to date.
For instance, your commercial auto insurance rates can be impacted by the driving histories of your fleet drivers. Similarly, you'll want to keep your insurer in the loop regarding any new vehicles in your fleet. This can help ensure you always have enough coverage.
prepare your fleet insurance policy
Having a booming business is exciting, no doubt. But it also demands diligence and responsibility, especially when it comes to your vehicle fleet.
Grab a commercial auto insurance quote today to start tailoring a policy that makes sense for you — and gain some much-needed peace of mind as you (literally) turn the keys of your company over to your employees.
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