Fleet Management refers to managing and taking care of every aspect of a company’s vehicle fleet. This is particularly prevalent and important in businesses and organizations that rely heavily on transport, especially their own for daily functioning. Almost all companies with a fleet use basic services such as Vehicle Financing or Funding, Insurance and Maintenance. In addition, there can be add on or extra services to the tune of driver management and specifics like speed and fuel management to ensure safety and optimize the economy of a vehicle. Typically, the tacit function of fleet management is specific vehicle tracking through which the instantaneous position of every car or truck in the fleet is known. Total Fleet Services offers explicitly the significant services of fleet management.
Accident management implies exerting every possible effort to ensure the company’s fleet is driven safely and in the unfortunate event of an accident, handling the situation. With accident management on your side, there is a possibility of efficiently repairing or replacing the vehicle. Fleet management services usually offer telephonic support and maintain a network of the best repair services to ensure that the vehicle is repaired to the best possible extent and as quickly as possible. They usually offer a guarantee on the repair work and in the case of Total Fleet Management, a 3 year fleet analytics guarantee is offered. While handling the repair work is one aspect, there would be more value added if the service includes references to an insurance company, though it works to clear claims as soon as possible.
This is like regular insurance where compensation can be claimed in case of a loss or theft with the one fundamental difference that it is done for vehicles that have an outstanding finance. Since the value of the vehicle decreases over time, quickly at first and slower later on, GAP Insurance aims to bridge the ‘gap’ between the two amounts. In order to adhere to the rules and laws of the road, this insurance doesn’t cover damages or accidents that occur due to driving under influence and this is entirely justified.
Even for an organization that is doing well, purchasing a fleet is a rather large investment and not many will have the opportunity to spend from their own reserves. Since it is usually a profitable investment, there are several institutions and benefactors who readily contribute. Fleet management services even provide funding options for the entire fleet but there is always the possibility that it isn’t the most economical option out there. This could be due to a myriad of reasons but the best thing to do here is to have the whole thing surveyed inside the company itself.
Insurance is an unsaid mandate for every vehicle, especially in a fleet as they are on the constant run and the risk of an accident of other mishaps is high. Usually, the fleet management service has tie ups with an insurance provider which offers discounts and by hiring the services of the affiliated provider, there is the assurance of the fleet management service. While this is the usual case in a lot of places, one can never be sure of fraudulent fleet management services tying up with touts and other misleading insurance providers. Again, the best alternate here is to survey independently and compare the results to see who’s the best person for the job.