Managing the insurance needs of company vehicles can be time-consuming and confusing. That is why businesses with three or more vehicles might consider fleet insurance as a catch-all to cover their vehicle insurance needs. Some things you should consider are:

Fleet insurance?

Fleet insurance eliminates the need to insure each vehicle individually. This type of insurance is suitable for small to medium-sized businesses with a range of vehicle types from small trucks to utes to vans and cars.

Getting the right insurance

The hassle and disruption associated with having one of your vehicles off the road can cost your business time, money, and reputation. That’s why it is important to have adequate insurance cover in place, including replacement vehicles as part of the policy.

Managing a fleet of work vehicles

Managing a fleet of work vehicles means more than just handing out the keys. The duty upon an employer to provide a safe working environment for its employees extends to whilst they are away from the business premises ‘on the road’. For e.g., driver fatigue is a significant risk for a business, and a new initiative to help manage risk is driver telematics, which measures driving safety such as speed, braking, location and journey time and help manage risk and bring down a premium.

Who pays when a driver misbehaves?

As well as strict government rules about making drivers more accountable in fleet vehicles, companies should be clear with employees about who is responsible for fines and penalties. This is particularly important in a large fleet, as hundreds of cars can accumulate to thousands of dollars in infringement notices over a few years.

Fleet management is a complicated business. But understanding where and when your vehicles are being used is important in the management of your company’s fleet.

If you would like to know more about fleet insurance, please CLICK HERE or contact us for more information.