Some businesses provide regular transportation services. They may invest in specialized fleet vehicles, ranging from semi-trucks to buses intended to transport large numbers of passengers. Other times, businesses might use standard passenger vehicles as company fleet vehicles. They use vans, trucks, SUVs or sedans for business purposes. They often add logos to the vehicles to make them identifiable as company vehicles in traffic. Florists, restaurants and home repair services are among the various businesses that may rely on fleet vehicles to meet the demands of customers and clients.
Employees and business owners operating fleet vehicles are at risk of a crash, possibly caused by another driver. The company may then have significant expenses to address. Business owners and leaders may need help recouping the three expenses below after a collision involving a fleet vehicle.
Vehicle repair or replacement
If workers need to deliver goods, meet clients at specific locations or otherwise move around town during their shifts, access to a fleet vehicle can be critical. The company may need to move quickly to repair the damaged fleet vehicle or purchase a replacement. The loss of a fleet vehicle even temporarily can also lead to major losses if the company cannot operate as normal. The cost of doing so can easily add up to tens of thousands of dollars or even more in scenarios involving specialized vehicles, such as wheelchair-accessible vans. The property damage liability coverage available from the at-fault driver may not be enough to defray those expenses.
Lost revenue
The business may have to cancel scheduled service calls or deliveries because a fleet vehicle is disabled and a worker cannot complete their shift. In some cases, the worker’s injuries might force them to take multiple days away from their job. The longer the company goes without critical services from key workers, the more the crash may affect company revenue.
Increased operational expenses
Business leaders also have to consider how a collision might affect company finances in the long run. If the worker sustained injuries because of the crash, they might file a workers’ compensation claim. They have every right to do so, but the insurance company may increase premium costs because of the claim. The costs for other forms of insurance, including vehicle coverage, could also increase depending on the circumstances.
Business leaders trying to cover the costs triggered by a recent car crash may need help, and that’s okay. Insurance claims and civil lawsuits can both be viable options. Estimating total losses is a critical step when business leaders need to seek compensation for collision-related expenses.