A commercial fleet changes over time. Vehicles are added or removed, values change, drivers and routes change, and the way vehicles are used may evolve. The insurance arrangement should be reviewed against those changes rather than treated as static.
Fleet cover should move with the fleet
Cover may include
- Own damage
- Third-party liability
- Spillage and clean-up costs
- Passenger liability
- Motor excess of loss
- Conventional and non-conventional fleet options
- Specialist extensions appropriate to the operation
- Fire: Static Risk
Points to review
- Vehicle values, descriptions and use
- Driver controls and licence requirements
- Tracking, immobilisers and security conditions
- Routes, overnight parking and cross-border use
- Excess structures and aggregate exposures
- Monthly fleet changes and reporting processes
- Conversional vs Alternative Risk Solutions