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Who Needs Fleet Insurance?

April 22, 2012 By

Whether you have one vehicle or many, if you use your vehicles for any commercial purpose at all, you need commercial or fleet insurance for your rolling stock. This is very important because if you do not specifically cover your vehicles for the purposes for which they are used, you may find a claim being denied you by your insurance company at some future date. Even if you just drive your car to work and use it for business appointments, you should have business, commercial or fleet coverage – even a fleet of one.

Fleet insurance has pretty much the same legal requirements as personal auto insurance. However there are exceptions because states do have different rules. Statewide can help you with this.  It is especially important  if your vehicles operate across state lines.

If you have trailers, liability insurance isn’t needed for them because they are not vehicles. Generally, the liability insurance of the vehicle towing also covers the trailer. It is important to note that comprehensive and collision coverage for the trailers generally need to be written separately though.

Here are some other important points:

  • make sure all drivers are listed under the fleet policy. If a driver is not listed, there is no coverage if they get into an accident;
  • most fleet policies will not cover drivers under the age of 25;
  • the drivers must be properly trained and licensed on the vehicle they are driving; and,
  • the drivers must have good driving records.
  • that your equipment and goods inside the vehicles must have separate coverage for theft and vandalism and this is usually covered by “inland marine” coverage which is a separate policy.

Statewide Insurance will help you find the right insurance coverage for you and your vehicles. Whether you have a large fleet or a small one, we have the experience and knowledge to help you get the coverage you need at the price you can afford.

Call Statewide Insurance Brokers at (888) 258-0272 today for fast, free quotes on your insurance needs.

Minnesota Commercial Auto Insurance: Not Your Average Personal Policy

February 12, 2011 By

Commercial vehicle insurance statewide

Contact Statewide Insurance Brokers for your commercial vehicle insurance

Commercial auto insurance for Minnesotas different from the types of policies the average car driver holds on their personal vehicle. Since the vehicle often travels more miles with different drivers, the amount of liability coverage is usually much higher than personal policies. The policies are not limited to the vehicles owned by the company. Many policies provide larger umbrellas of protection for rented vehicles and an employee’s personal vehicle when used on business. The cost of such policies varies widely depending on the number of vehicles involved, the number of potential drivers, etc. The best way to get a good price is to find an agent that specializes in commercial vehicle insurance.

It is very important with commercial auto insurance to get an agent that works with several different companies. This give the agent flexibility to find policies that fit the needs of the business as well as the budget. That is important for both larger and smaller businesses. Some Minnesotans try to buy coverage for their work vehicles from their personal auto insurance agent. That is a mistake. The needs of a business differ greatly from the needs of the average car owner. Liability is one large factor. Businesses provide a larger target for lawsuits.

There are some similarities between personal auto insurance and commercial auto insurance. The policies need to cover damages and injuries caused during an accident. They need to cover costs associated with uninsured or underinsured motorists. They need to cover theft of vehicles as well as theft of property inside the vehicles. As with personal policies, commercial policies provide discounts for safe driving and devices that deter theft. When hiring new employees, it is a good idea to screen for bad drivers because they will cause insurance costs to skyrocket. It is also good business practice to make sure everyone takes a safe driver course at least once every few years.

Other costs associated with commercial auto insurance include what types of material he or she is transporting. Hazardous materials will cause costs to rise. Also, if the vehicle holds a good deal of expensive equipment, the costs to cover potential theft might be high. As with personal insurance, the type and age of the vehicle can cause costs to rise as well. Consider everything when purchasing a vehicle. Before signing for a new vehicle call your insurance agent to make sure you are not making an expensive mistake.

Working in Minnesota? Need commercial auto insurance? Get a fast, free quote from Statewide Insurance Brokers. Call 888-258-0272.