There are many industries that rely of the use of commercial fleets in their day-to-day business. Most businesses today rely on their own private transport, usually in the form of fleet cars. These vehicles can be used by multiple employees, and are often used for long distance travel and to get to remote areas. These factors increase the likelihood of damage, loss or theft.
With fleets being such a vital tool in so many Australian industries, the vehicles should be backed up with a comprehensive insurance policy.
What is Fleet Insurance?
The need for fleets of vehicles in business is associated with a number of risks. Fleet Insurance can protect your fleet vehicles against theft, accident or damage anywhere in Australia.
Fleet Insurance can help your fleet survive the unexpected, with minimum losses.
Our Insurance Partners
Our systems do the hard work, quickly matching the insurance that best suits your business.
We do all the hard work analysing insurance policies and their covers to match them against your business risks and needs.
Our expertise insuring thousands of businesses means we know the questions to ask you.
We find the right insurance for your needs and because we operate online we have lower costs to pass more savings on to you.
You can access and update your information at any time of the day and night, when it suits you most.
What are the Specific Risks Faced by Industries that Utilise Fleets?
There are a number of risks associated with the use of fleet vehicles in business. From transportation to loading and unloading, fleets are exposed to a divers set of risks, unique to the nature of the work.
Although every fleet business is different, there are several hazards that are common throughout the industry, including:
- Vehicle Manoeuvring: Regardless of the size of a commercial fleet vehicle (which will vary depending on the purpose and industry) serious injury, or severe property damage may occur in the event of a collision. This can result in a huge financial payout for the company running the fleet.
- Driver Fatigue: Driver fatigue represents a huge risk in any industry that relies on fleets. The necessity to drive frequently or for long periods of time increases the likelihood of tiredness interfering with a drivers abilities. This, in turn, can cause serious injury to other road users or damage to their vehicles in the event of an accident, not to mention damage to the fleet vehicle or injury to the driver.
- Staff Injury: Employees operating in an industry that utilises fleet vehicles in their day-to-day functioning are open to injury in a variety of ways. It is not only collisions that can cause employee injury, but also falls from vehicles, load securing and lifting, and moving heavy objects or objects that are difficult to grasp can all result in an accident.
- Load Securing: In the event that a load is not secured properly, serious damage could be caused to a fleet vehicle and its contents in transit.
- Fire: During the refuelling of fleet vehicles, fires can easily be sparked, resulting in injury to the driver and severe damage to the fleet vehicle and its cargo.
- Theft: Theft of cargo or the fleet vehicle itself is an ever-increasing problem in industries that rely upon vehicles.
What Are the Key Elements of a Fleet Insurance Policy?
Depending on your clients, industry and function, there are several types of Fleet Insurance policies that may be suitable for your business.
The three main types of Fleet Insurance:
- Third Party Property Damage: This provides cover for compensation that has to be paid out for damage of other peoples’ property, resulting from an accident caused by a driver of the covered fleet vehicle. This policy will not cover your own fleet vehicle or any of its contents.
- Third Party Fire and Theft: This provides the same cover as Third Party Property with additional cover for your own fleet vehicle in the event that it is stolen or damaged by fire.
- Comprehensive: This will cover you for both of the above as well as covering your fleet vehicles if they are damaged in an accident. There are several extra policies that can be added to this type of cover to suit specific requirements.
The type of Fleet Insurance that is necessary for you is dependant on a number of factors such as that the type of vehicle, the goods you carry and driver experience.
Who Needs Fleet Insurance?
Fleets can come in various forms; no matter what type of fleet you operate and clients you service, the PSC Direct brokers will find a specialised policy that will suit your specific needs. Fleet types that we can cater to include:
- Car Rental Companies
- Taxicab Companies
- Public Utilities
- Public Bus Companies
- Police Departments
How PSC Direct works for you
As specialist small business insurance brokers, PSC Direct uses our considerable experience to provide multiple quotes for you. Combining our expertise insuring thousands of other similar businesses with our detailed database of insurers and insurance products; we’re best placed to advise you on the right insurance for your business.
We have strong relationships with the leading underwriting agencies and insurance companies. We can source the most appropriate business insurance policy for you, covering you for what you really need, at the right price.
We can help sole practitioners, small, medium and large businesses protect the businesses you are growing and ensure your assets are covered in the event that disaster strikes.
With our strong relationships to a broad range of highly-rated insurers we are able to advise you on business insurance, professional indemnity insurance, and professional indemnity insurance specifically tailored to meet the risk exposure of your business.
We can also provide advice on a range of additional insurance policies and cover that can affect your business and make sure you have the right insurance at the right price.
72% of Australian businesses fail after experiencing a major loss.
The right business insurance will ensure you are not one of them.
While good insurance covers you for most things – Professional Indemnity, Professional Liability and Property, great insurance covers you for the specific risks that your business faces. We understand that every business is unique and you need a policy that addresses the specifics. We make sure that when you have a claim that’s out of the ordinary and complicated, you’re covered.