The Industries Benefiting from Fleet Vehicle Insurance

2 mins read

Fleet vehicle insurance is one of the fastest-growing sectors in the insurance industry. It’s no wonder why – fleet vehicle insurance products like Rideshur by Humn.ai protect businesses from their liability to their customers, staff, and other third parties in the event of an accident or collision with one of the vehicles under their control.

If you manage any business that relies on fleet insurance, many industries would benefit from having their business insured through your fleet vehicle insurance.

Private Health Care

One of the most obvious ways that fleet vehicle insurance benefits health care is by providing emergency transport for those who are too sick to drive themselves. Ambulances are pricey and time-consuming, so many medical workers rely on fleet vehicles to deliver patients to local hospitals.

It’s impossible to know how many lives have been saved because a doctor was able to bring a patient in need directly to an operating room, but one study found that as much as 90 percent of emergency transfers occur in these types of vehicles. Private ambulance companies help save lives every day—but they also benefit hugely from fleet vehicle insurance policies.

Delivery Services

Delivery drivers are exposed to all kinds of risks while they’re on the road, including accidents and robberies. That’s why many delivery services have started to offer fleet vehicle insurance as an added employee benefit—it can be a massive help in ensuring their workers stay safe.

While offering these types of benefits isn’t mandatory, there are quite a few reasons it makes sense for delivery companies to protect their employees with fleet vehicle insurance:

The main reason is that the cost of injuries incurred by delivering products or people often adds up significantly more than usual. With proper fleet vehicle insurance, employees won’t have to worry about facing a lawsuit if they get hurt on duty.

Government Agencies

Government agencies are responsible for hundreds of thousands of vehicles that travel throughout the country every day. These fleets run a variety of vehicles, and it’s important to have insurance that fits your fleet needs.

To obtain fleet vehicle insurance, government agencies often turn to specialised insurance carriers, who can provide coverage for multiple types of vehicles in one policy, usually at a lower cost than individual policies for each vehicle.

Government agencies like local municipalities and other departments are great examples of industries that benefit greatly from specialised insurance policies. The ability to cover many different kinds of vehicles in one policy makes sense since governments often have many vehicles doing similar jobs.

Rental Car Companies

One of these organisations probably comes to mind when you think of fleet vehicle insurance: Rental car companies. That’s because, for years, rental car companies were big fans of fleet vehicle insurance policies.

They provided essential coverage for their fleets without adding an extra cost to their rental prices. Rental cars are relatively high-value vehicles that move around a lot, and many models quickly depreciate in value.

This makes them perfect candidates for fleet vehicle insurance policies that cover total loss protection and depreciation, among other things. Many rental car companies have stopped purchasing third-party property damage liability policies instead of using their fleet vehicle insurance coverage (which offers better protection and is cheaper).

Leave a Reply