Fleet insurance: everything you need to know

When using heavy machinery, accidents can unfortunately happen. At these times, it is always good to have specialized support, which can cover the loss and support the customer at that time. After all, if individual machinery already needs this support, imagine managers who deal with dozens and/or hundreds? That’s why having fleet insurance is always a good choice.

Unforeseen events can happen, not to mention that in addition to accidents, heavy machines can also be stolen or even break down and delay work.

All of this can be better resolved when you have fleet insurance with so clean. Depending on the policy chosen, it is possible to count on facilities, such as compensation for damages, theft or even renting machines, while the company is undergoing maintenance.  

Learn more about the advantages of insurance for your fleet! 

Why buy fleet insurance?

Heavy machines are high-cost goods. Therefore, it is expected that in case of theft, accidents, or other accidents, the owner, who does not have insurance, will despair. After all, the damage is huge and the company is not always able to replace the good in the short term.

This ends up generating even more damage, as heavy machines are used on a daily basis. In civil construction, for example, the lack of a backhoe can delay the work and harm the entire schedule. 

Thus, when the company does not have fleet insurance, it ends up running a serious risk of experiencing similar situations. After all, it is not possible to predict when an accident or a criminal act will happen. When providing insurance for the fleet, the company:

  • You will avoid major financial losses, as you will be able to count on the value of the policy, in case something happens;
  • You can count on third-party damage coverage if something is damaged in an accident with a heavy machine;
  • You have better control of your budget, as you avoid the possibility of having to buy a heavy machine to replace another.

Benefits of taking out fleet insurance

Fleet insurance is security for the company. In general, he can be chosen by those who have at least 3 or 4 heavy machines or vehicles, but this standard may vary, according to the insurance company. Discover the main advantages of purchasing insurance. 

1- Risk reduction

The use of heavy machinery involves many risks of accidents. When they eventually happen, they generate a great financial loss for the company. 

In this way, by taking out insurance for a company fleet, you eliminate this risk. 

2- Avoid unforeseen events

By having fleet insurance, the company is more relaxed and knows that if any unforeseen happens, it will have a heavy machine until yours is ready for use.

3- It’s cheaper

In general, fleet insurance is cheaper than when the company takes out individual insurance for each machine. This helps the company to save on monthly fees. 

How do hire a reliable insurance company?

Taking out fleet insurance is an important step. But to be sure you are making the best choice and getting the best product, you need to be careful when hiring the insurance company. Here are some tips to make sure you don’t go wrong. 

#1 Prefer the specialized ones 

Supporting a passenger vehicle is very different from dealing with a problem with a tractor, for example. Therefore, to avoid problems, it is recommended to prefer brokers specializing in heavy machinery. Thus, if an accident occurs, the company will have the best service.

#2 Research the broker

Once you’ve listed potential specialist insurers, it’s time to research them. If you know someone who has already taken out insurance with one of them, talk to the person or the company representative. See if you’ve ever needed assistance and check out how the service was.

If you don’t know anyone, look for reports on social media. See comments about the insurer and check that there are not many complaints about the service provided. 

#3 Check the values

Once you have selected the insurers with the best ratings, ask for a quote and see what each one offers. You will certainly find a difference between fleet insurance and another.

At this point, it is important to consider the amount charged. However, that just isn’t enough. Stay tuned for fleet insurance that will provide more security and more adequate coverage for the company’s needs. 

#4 Learn about third-party damage coverage

Also, check if any fleet insurance offers coverage for damages to third parties. Although initially, this may seem like an extra cost, on a day-to-day basis it can certainly prevent further problems. After all, when using heavy machinery there is a risk of errors and damage to other people’s property. When insurance covers this type of problem, the company avoids high costs and unforeseen expenses. 

#5 Pay attention to the service received

In addition to all the details regarding the insurer’s history, it is recommended to pay attention to the service you received. How were you treated when you looked for the insurance company? Have your doubts been resolved? Did you find it easy to get in touch by email or phone?

Remember that this first contact can give you a real idea of ​​what the interaction with the insurer will be like after hiring. After all, when you need to call the insurance company, all the company will need is quality service and quick problem resolution. 

Looking for insurance for your fleets?

Fleet insurance is more economical than paying for insurance for each machine. Thus, it ends up being the best option for those who want to protect their assets and count on the support of a specialized team, when they need it. 

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