Motor Fleet Insurance Policy will cover the following:
- Fleet insurance provides the benefit of covering all vehicles under one policy.
- Loss or damage to vehicles by fire, accidents, burglary, natural calamities, and other unexpected causes
- Third party injury or death & damage caused to property
- Provides coverage for the insurer/driver: Multiple fleet insurance policies also cover injuries to the driver.
- Overnight Vehicle Insurance: Many policy providers offer coverage for fleet overnight also. As some businesses, might need their vehicles to transport goods within one night.
- Business obligations: It provide comprehensive coverage against legal obligations therefore, it reduces risks associated with maintaining the fleet.
- Medical: Some schemes cover medical expenses incurred due to any mishap as well.
Click here to know what is not included in your Motor Fleet Insurance Policy
Case on Motor Fleet Insurance Cover
New Vehicle Replacement
A salesman encountered a collision whilst driving his company’s vehicle. The five-month-old car was badly scratched and the approximation for repairs exceeded 60% of the car’s list price. The motor fleet insurer approved to settle the claim by swapping the damaged car with a brand new vehicle.
Another Case Study
A fleet that was on the move at night faced a major accident because of natural mishap and got damaged. Luckily, Mr. Singh, the consignee, had got his motor fleet insurance done right on time and therefore, most of the damage was covered under one single policy making the claim process smoother.
Wherein, Mr. Sinha, who also owned a group of vehicles, got a separate policy for every vehicle. When 5 of his vehicles got damaged due to a natural mishap, he had to waste a lot of time for the claim settlement process as all the policies were different.
Although, the circumstances of every claim vary and each is based on the terms and conditions of the policy, but it is suggested to opt for a Motor Fleet Insurance if your company owns multiple vehicles.