Before buying fleet insurance, make sure you know what’s included in your policy and how you can add on optional protection to ensure that you have the protection you need when you need it most.

Fleet insurance isn’t a one-size-fits-all product, and products like Rideshur by Humn.ai have made sure to enlighten fleet companies on this. Read through this list of what’s included in your policy and decide which options are suitable for your business needs before your next renewal date.

Collision Coverage

This is included in all insurance policies. It is coverage that protects you from damage to your vehicle resulting from a collision with another object or vehicle.

Collision will help repair or replace your car in case of an accident, but you may not be covered if it was stolen or vandalised. You can get comprehensive coverage that also covers theft and vandalism, so make sure you check if it’s something you want in your policy.

Although you don’t have to carry full replacement value on vehicles over ten years old, we highly recommend against doing so because they usually only depreciate more with time.

The main reason for carrying full value is security: If your car gets damaged beyond repair in an accident, it would be nice to receive enough money to buy a similar used model even if a newer model isn’t out yet.

Towing And Labor

You’ll be covered for towing your car or van and labour if you break down while on business. If a tow truck is required, it usually won’t cost you more than around £200 — and that covers one tow per policy period, too.

Labour coverage can also come in handy if your vehicle needs servicing while on business. All labour costs are usually covered up to £100 per hour for a maximum of eight hours per incident — as long as you’re within your policy’s territorial limits.

This service may also come in handy if your rental vehicle becomes disabled and needs repairs. Rental companies usually charge customers for each day their car is out of commission, but you can get back to work quickly and worry-free with free labour coverage from your fleet insurance policy.

You’ll be covered for around £50 per day, which applies after 24 hours have passed. Typically, you can’t claim any labour costs until 48 hours have passed — at which point you could be reimbursed for up to £400 worth of work.

Third-Party Liability Cover

If you plan to use your vehicle for a business purpose, make sure that you have at least £1 million in liability coverage. A policy with £1 million of commercial liability insurance can protect you if someone is injured by your company’s vehicles.

However, make sure to look into any specific requirements before you purchase fleet insurance.

You may be required to carry at least £750,000 in personal injury protection and another £750,000 for property damage. A personal injury protection (PIP) policy pays for medical expenses and lost wages incurred due to an accident.