Fleet Insurance In Dubai & The UAE
Fleet Insurance is part of our Commercial Insurance policies. Whether you own a taxi company, car rental service, or delivery service, if your business relies on multiple vehicles to complete your daily operations you can protect your interests with fleet insurance. A commercial fleet insurance policy can be far more affordable than insuring all of your vehicles individually.
What is Fleet Insurance?
Fleet Insurance provides coverage for multiple vehicles under a single policy, simplifying management and ensuring cost-effective protection for businesses that operate fleets. It helps protect against damages, liability, and unforeseen events.
Types of Fleet Insurance In The UAE
Choosing the right type of fleet insurance is an important factor, as each kind can offer coverage specific to your needs. The different types of fleet insurance include:
- Third-Party Only: is an insurance coverage that does not pay for damages to the fleet’s vehicles or drivers; however, it does provide coverage for damages done by your driver/vehicle to a third party. Typically, third-party only is the most affordable type of fleet coverage.
- Third-Party: is an insurance that protects a business from damages caused by someone who is not the driver of the vehicle, hence the name, third-party. Typically, bodily injury coverage for fleet passengers is included, protecting your employees.
- Fire and Theft: provides coverage to your fleet’s vehicle if it is stolen or damaged in a fire. Typically, fire and theft coverage for fleets will also provide coverage to any third party.
- Fully Comprehensive: is an insurance coverage designed to cover damages that were caused by something other than a collision. This includes damages from things like fires, vandalism, tornadoes, and more!
What Does Fleet Insurance Cover in the UAE?
- Comprehensive Coverage: Protects fleet vehicles against accidents, theft, fire, and natural disasters.
- Third-Party Liability: Covers damages and injuries caused to others in an accident.
- Collision Damage: Repairs or replaces vehicles damaged in accidents.
- Personal Injury Protection: Medical expenses for drivers and passengers in covered incidents.
- Roadside Assistance & Towing: Emergency services for breakdowns and accidents.
What Does Fleet Insurance Not Cover in the UAE?
- Intentional Damage: Losses due to fraudulent or intentional damage.
- Unlicensed Drivers: Incidents caused by unqualified or unauthorized drivers.
- Racing & Reckless Driving: Accidents occurring during illegal racing events.
- Mechanical Failures: Regular wear and tear or pre-existing mechanical issues.
- Improper Use of Vehicles: Coverage does not apply if the vehicle is used outside its intended commercial purpose.
What Vehicles are Covered by Fleet Insurance?
Typically, a minimum of two vehicles is required to be considered a fleet. You can cover a mixture of vehicles ranging from trucks, cars, and suvs to forklift trucks, excavators, and more. Additionally, a wide range of businesses and industries can benefit from fleet insurance, including transportation, hauling, courier, and more.
- Door-to-door sales.
- Resource trading companies.
- Construction and contractors.
- Delivery services.
- Shuttles or limo services.
- Bus or taxi services.
- Rent a car fleets.
- App-driven car fleets (i.e. Uber or Careem).
- Self-drive mobility (i.e. www.ekar.ae).
- Fleets for employee issued sedans, trucks, etc.
- And more.
Does Fleet Insurance Cover My Drivers?
Fleet insurance is an auto insurance policy that covers property damage for your fleet cars. However, depending on how your policy is written, standard commercial fleet insurance does not include coverage for your drivers. Typically, only fully comprehensive includes insurance coverage for the driver.
Depending on the type of policy you have, commercial fleet insurance can include a variety of coverage options.
- Employee liability coverage.
- Trailer coverage.
- Public liability and property damage.
- Tools and goods in transit coverage.
- Roadside assistance.
- Fire and theft coverage.
- Bodily injury.
- And more.
Fleet Insurance Claims Process in the UAE
Steps to File a Claim:
- Report the Incident: Notify the insurer immediately after an accident or loss.
- Submit Required Documents: Provide police reports, driver statements, and damage assessments.
- Vehicle Inspection: Insurer evaluates the extent of damage and cost of repairs.
- Claim Approval & Payout: Once approved, the insurer compensates according to the policy terms.
Who Needs Fleet Insurance?
What is the Difference Between Fleet Policies and Insuring Vehicles One by One in the UAE?
- Cost Efficiency: Fleet insurance is generally more affordable than insuring each vehicle separately.
- Simplified Administration: A single policy covers multiple vehicles, reducing paperwork and renewals.
- Flexible Additions & Removals: Vehicles can be added or removed without separate policy modifications.
- Customizable Coverage: Fleet policies offer broader protection compared to individual vehicle policies.
Advantages of Fleet Insurance Policies
- Lower Premiums: Bulk coverage often reduces per-vehicle costs.
- Streamlined Management: One policy covers multiple vehicles, easing renewal and claims handling.
- Better Risk Assessment: Insurers may offer discounts for well-maintained and tracked fleets.
- Increased Business Continuity: Quick claim settlements ensure minimal downtime for company operations.
How Much Does Commercial Fleet Insurance Cost?
Fleet insurance can range in price depending on the type of fleet you own, your industry, how much coverage you need to protect your fleet, and the types of drivers for your fleet. When you apply for fleet insurance coverage, you’ll be asked a series of questions to help determine your premium, including and not limited to:
- How many vehicles are in your fleet?
- What types of vehicles do you want to insure (i.e. trucks, cars, motorcycles, etc.)?
- What business are you in?
- What condition are your vehicles in?
- How old are the vehicles in your fleet?
- How frequently are your vehicles used?
- Maintenance and tracking procedures?
- Any exterior stickers and paint?
- Leasing criteria?
- Where do you store your vehicles overnight?
- How old are your drivers (for comprehensive coverage only)?
- Do your drivers have good driving records (for comprehensive coverage only)?
Provide Peace of Mind with Fleet Insurance
Understanding how commercial fleet insurance can assist your business in the event of an accident or catastrophic event (such as a fire), not only protects your financial interests but also saves valuable resources when it comes time to renew your policy. At Petra, our team of insurance professionals are here to help you determine how much fleet insurance coverage your business requires to ensure you are fully protected in the event of mitigated circumstances.
UAE Fleet Insurance FAQs
Yes, most policies allow flexible additions and removals to accommodate fleet changes.
Many insurers require regular vehicle maintenance and GPS tracking for risk reduction and premium discounts.
- Logistics & Delivery Companies.
- Construction & Contracting Firms.
- Taxi & Ride-Sharing Services.
- Corporate & Employee Transport Providers.
Other Commercial insurance policies
Medical Malpractice Insurance
This insurance will provide protection against third party claims for medical malpractices that occur covering the cost associated with it.
Business
Insurance
Business insurance is coverage that protects businesses against losses that may occur during the normal course of business.
Business Interruption Insurance
Understanding how business interruption coverage will protect your business can help you be more prepared in the event of an unforeseen natural disaster.
Professional Indemnity Insurance
Professional indemnity insurance, also called professional negligence insurance, is coverage for small businesses that protects against claims from their clients.
Marine & Aviation Insurance
Marine cargo insurance covers the goods, property and/or merchandise carried by a ship or aircraft.
Cyber Ransom Insurance
Cyber ransom insurance is designed to protect your business in the event of a ransomware attack.
Keyman
Insurance
This is taken out by a business to compensate for any financial losses that would arise from a death or injury of an important person.
Workmen’s Compensation Insurance
It provides coverage for your valued employees in the event they fall sick, get injured or lose their life during employment.
Business Protection Insurance
Hazards that can threaten your company in the future are diverse and very much unpredictable. you need to hedge yourself from all these risks.
Credit
Insurance
Credit insurance is an insurance policy purchased with the intention of protecting a business against commercial and/or political risk that is beyond the control of your company.
Income Protection Insurance For Empolyees
Loss of income in the event of a disability, illness, or death can cause significant personal and economic hardships for employees & their families.
Commercial Property Insurance
We provide a tailored strategy to guard against calamities like fire happening to your assets like buildings, supplies, and warehouse stock.
Contractor All Risk Insurance
Contractor All Risk Insurance is part of our to cover against contracts and construction risks.
Corporate & Business Health Insurance
Corporate & Business Health Insurance serves not only as a mandatory legal requirement but also as a strategic benefit that businesses offer to their employees.
Employee Benefits Through Insurance
Employee benefits through insurance have become a crucial aspect of the modern workplace, playing a significant role in attracting and retaining top talent.
Professional Indemnity insurance
The cost involved in health care today is extremely high and continuously increasing.
Strata
Insurance
Strata insurance provides the peace of mind that comes with knowing your strata property is covered in the event of damage to common areas.