If you run a passenger transport business, taking out fleet insurance is an essential step to protect your vehicles, drivers and passengers. Fleet insurance allows you to group all your vehicles under one contract, simplifying the management of your insurance while providing comprehensive coverage tailored to your business. In this article, we explain the key steps to taking out fleet insurance and the benefits it offers your business.
1. Understanding Fleet Insurance
Fleet insurance is an insurance solution that covers multiple vehicles under one contract. It is particularly advantageous for passenger transport companies that own multiple vehicles, such as taxis, VTCs, minibuses or coaches. Here are the main advantages of fleet insurance:
- Simplified management : A single contract for all vehicles, with a single expiry date and centralized management.
- Cost reduction : Rates often more advantageous than individual contracts, thanks to economies of scale.
- Flexibility : The ability to add or remove vehicles easily based on business needs.
2. Assess your coverage needs
Before purchasing fleet insurance, it is important to assess the specific needs of your business. Here are some questions to consider:
- Number of vehicles : How many vehicles are included in your fleet?
- Types of vehicles : What types of vehicles do you use (taxis, VTC, minibuses, coaches)?
- Vehicle use : How often are they used and how far are they travelled?
- Driver profile : Who are the drivers (experience, driving history)?
- Specific risks : What are the specific risks linked to your activity (transport of people with reduced mobility, long distances, urban journeys, etc.)?
3. Choose the appropriate guarantees
Fleet insurance should provide comprehensive coverage tailored to your business. Here are the main guarantees to consider:
- Civil liability : Mandatory, it covers bodily injury and material damage caused to third parties.
- All accident damage : Covers damage suffered by your vehicles, whether or not they are responsible for the accident.
- Theft and fire : Protects your vehicles against theft and fire.
- Glass breakage : Covers repairs or replacement of damaged glass.
- Assistance and breakdown : Offers 24/7 assistance in the event of a breakdown or accident, including towing and the provision of a replacement vehicle.
- Legal protection : Covers defense costs in the event of litigation related to your transport activity.
- Passenger Guarantee : Protects passengers carried in the event of bodily injury.
4. Compare fleet insurance offers
It is essential to compare multiple fleet insurance quotes to find the best coverage at the best price. Here are some tips for comparing quotes:
- Request quotes : Contact multiple insurance companies and request personalized quotes.
- Use a broker : An insurance broker can help you find the best deals and negotiate rates.
- Check warranties and exclusions : Read the terms and conditions carefully to understand the warranties included and the exclusions.
- Check customer reviews : Learn about the reputation of insurers by reading customer reviews.
5. Prepare the necessary documents
To purchase fleet insurance, you will need to provide certain documents to the insurer. Here is a list of commonly requested documents:
- Vehicle List : Information on each vehicle in the fleet (make, model, registration, etc.).
- Driver Information : List of drivers authorized to drive fleet vehicles, along with their experience and driving history.
- Claims History : Details of claims that have occurred in recent years.
- Proof of ownership : Proof of ownership of the vehicles included in the fleet.
6. Subscribe to the contract and manage your fleet
Once you have chosen the offer that suits you, you can subscribe to the fleet insurance contract. Make sure you understand the terms of the contract and ask your insurer all the necessary questions. After subscribing, here are some tips for managing your fleet insurance effectively:
- Vehicle tracking : Keep the list of vehicles up to date and inform your insurer of any changes (addition or removal of vehicles).
- Driver training : Make sure your drivers are well trained and aware of road safety.
- Claims Management : In the event of a claim, follow the reporting and claims management procedures rigorously.
- Annual renegotiation : Re-evaluate your fleet insurance contract each year to adjust guarantees and negotiate rates if necessary.
Conclusion
Taking out fleet insurance for your passenger transport company is an essential step to ensure the safety of your vehicles, drivers and passengers. By assessing your needs, choosing the right guarantees, comparing offers and managing your contract effectively, you can benefit from comprehensive coverage and advantageous rates.
At KT VTC&TAXI, we specialize in insurance for passenger transport companies and we support you in taking out your fleet insurance. Do not hesitate to contact us for personalized advice and a tailor-made quote.