Fleet Insurance

It provides coverage for all of the vehicles in the under a single policy, rather than requiring each vehicle to have its own separate policy. This can make it more convenient and cost-effective for businesses to insure their fleet of vehicles.

Categories

First-Party Fleet Insurance– It also known as first party coverage or first party benefits, It provides coverage for the policyholder or insured. First party coverage would provide protection for the business and its assets in the event of a loss or damage.

Third-Party Fleet Insurance– It provides coverage for third party liabilities, such as damage or injury to other people or property.

Coverage under this Policy

Accidents– Accident coverage may include repairs or replacements for damaged vehicles, as well as coverage for medical expenses and liability coverage for damages or injuries to third parties.

Theft– Theft coverage may include repairs or replacements for stolen vehicles, as well as coverage for loss of use or rental expenses if the vehicle is out of service due to a covered theft.

Fire– It provide coverage for fires involving the vehicles in the fleet. Fire coverage may include repairs or replacements for damaged vehicles, as well as coverage for loss of use or rental expenses if the vehicle is out of service due to a covered fire.

Third-Party Losses– It provide coverage for third party losses, such as damages or injuries to third parties caused by the vehicles in the fleet.

What is not comes under this Insurance

1. Normal wear and tear: Fleet insurance policies generally do not cover damages or losses that are a result of normal wear and tear on the vehicles.
2. Intentional acts: Fleet insurance policies typically do not cover damages or losses that are a result of intentional acts, such as vandalism or sabotage.
3. War or terrorism: Fleet insurance policies may exclude coverage for damages or losses that are a result of war, terrorism, or other political events.
4. Nuclear accidents: Fleet insurance policies may exclude coverage for damages or losses that are a result of nuclear accidents or incidents.
5. Pollution: Fleet insurance policies may exclude coverage for damages or losses that are a result of pollution or contamination.
6. Mechanical breakdown: Fleet insurance policies generally do not cover damages or losses that are a result of mechanical breakdown or failure.
7. Improper maintenance: Fleet insurance policies may exclude coverage for damages or losses that are a result of improper maintenance or care of the vehicles.

How much does it Cost?

Fleet Insurance cost is 8278 for third-party 1 year while comprehensive Rate depending on a number of factors, including the size and type of vehicles in the , the driving records of the drivers, the location of the business, and the coverage limits and deductibles selected.

Steps to buy/renew

Follow the steps to buy or renew Online:

1. Visit PolicyMeter website: firstly, go through to the PolicyMeter website and navigate to the page for fleet insurance.
2. Share your RC and Existing Insurance (If Available) on whatsapp or send us email on [email protected]
3. Get the best Fleet Insurance

How to calculate Insurance Premium

• The size and type of vehicles in the fleet: The size and type of vehicles in the fleet can affect the premium, as larger or more expensive vehicles may be considered higher risk and result in a higher premium.
• The driving records of the drivers: The driving records of the drivers in the fleet can also affect the premium, as drivers with a history of accidents or traffic violations may be considered higher risk and result in a higher premium.
• The location of the business: The location of the business may also affect the premium, as businesses in areas with higher accident rates or higher rates of theft may be considered higher risk and result in a higher premium.
• The coverage limits and deductibles: The coverage limits and deductibles selected by the business can also affect the premium, as higher coverage limits and lower deductibles may result in a higher premium, while lower coverage limits and higher deductibles may result in a lower premium.

Two Important Factors to consider Policy

1. Exclusions and exclusions: It is important to carefully review the exclusions and exclusions of any fleet insurance policy to ensure that the policy provides the coverage that is needed.
2. The reputation and financial stability of the insurance company: It is important to select an insurance company that has a good reputation and is financially stable, as this can help ensure that the business is protected in the event of a loss.

Top Insurance companies in India 2022

1. ICICI Lombard: ICICI Lombard is a leading insurance company in India that offers a range of fleet insurance policies for businesses of all sizes.
2. Bajaj Allianz: Bajaj Allianz is another well-known insurance company in India that offers fleet insurance policies for businesses.
3. HDFC ERGO: HDFC ERGO is a leading insurance company in India that offers fleet insurance policies with a range of coverage options and flexible pricing.
4. Royal Sundaram: Royal Sundaram is a well-respected insurance company in India that offers fleet insurance policies with a range of coverage options and flexible pricing.
5. Reliance General Insurance: Reliance General Insurance is another insurance company in India that offers fleet insurance policies with a range of coverage options and flexible pricing.

Steps to file a Claim

1. Notify the insurance company: You will typically need to provide the insurance company with details about the loss, such as the date and time of the loss, the location of the loss, and the vehicles and drivers involved.
2. Complete a claim form: The insurance company will typically provide you with a claim form to complete. You will need to provide detailed information about the loss, including a description of the damage or loss, the estimated cost of repairs or replacements, and any other relevant information.
3. Provide supporting documentation: You may be required to provide supporting documentation with your claim, such as police reports, repair estimates, and other relevant documents.
4. Submit the claim: Once you have completed the claim form and gathered all of the necessary documentation, you can submit the claim to the insurance company.
5. Wait for a response: The insurance company will review your claim and determine whether it is covered under your policy. They will typically notify you of their decision and any next steps in the process.

Required Documents

1. Claim form: The insurance company will typically provide you with a claim form to complete, which will require you to provide detailed information about the loss, such as the date and time of the loss, the location of the loss, and the vehicles and drivers involved.
2. Police report: If the loss was caused by an accident or theft, you may be required to provide a copy of the police report.
3. Repair estimates: If the loss involves damages to one or more of the fleet vehicles, you may be required to provide repair estimates from a qualified mechanic or repair shop.
4. Other supporting documentation: Depending on the specific circumstances of the loss, you may be required to provide other types of supporting documentation, such as medical bills or receipts for replacement parts or equipment.

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