What Is Fleet Insurance?
Fleet insurance is an important form of protection for businesses in South Africa. It covers the vehicles that a company owns or uses, as well as any associated liabilities. Fleet insurance provides comprehensive coverage for any number of vehicles, including cars, vans and lorries. The policy also covers damage to third-party property and injury to other people caused by insured vehicles.
Companies operating fleets of commercial vehicles in South Africa have a legal responsibility to ensure all their drivers are adequately covered while they’re on the road. This includes both public liability cover and vehicle damage cover against theft, fire or accidents. Failure to adhere to this legislation can result in significant fines or even prison sentences for those responsible. Fleet insurance helps companies meet these requirements without having separate policies for every individual driver or vehicle involved in their business operations.
In terms of coverage options, fleet policies typically provide comprehensive financial protection against claims arising from incidents involving one or more insured vehicles – such as collisions with other motorists, physical damages caused by weather conditions (such as hail storms) and vandalism too . Additionally some insurers may include breakdown assistance services within their fleet packages so if a vehicle needs repairs during a journey it will be taken care of quickly and efficiently with minimal disruption to your business operations
When selecting the most suitable fleet policy for your requirements it’s essential you review its features closely – paying particular attention to factors like excesses/deductibles associated with each claim made; additional benefits included (e.g., roadside assistance); premium payment terms; exclusions from certain types of cover etc.. Many insurers also offer discounts depending upon how many years no-claims bonus has been built up – which could help reduce costs further when shopping around different providers
To get an accurate quote based on your specific circumstances its advisable that you speak directly with an experienced provider who can advise on various solutions available – considering not only cost but quality too since cheaper options often come at expense of reduced levels service & support once something goes wrong
Overall, investing into appropriate fleet insurance is extremely important part owning/operating multiple commercial vehicles especially here in South Africa where there’s strict legal obligations needing met before taking them onto public roads – failure comply carries heavy penalties making small savings now potentially lead much greater losses down line should worst case scenario occur.
Fleet vehicles examples are:
- Dumping trucks
- Cars & Bakkies
- Small trucks
And the list can go on and on. If you own more than 2 vehicles in your business, you can apply for fleet insurance.