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All About Affordable Fleet Insurance in UAE

Category: Fleet Insurance Published on: 25 Jan 2023

Fleet Insurance Policy in UAE – Brief Explanation

The United Arab Emirates has a thriving economy. Construction, HVAC, Oil & Gas, Engineering, Landscape, Equipment Dealers, Security, Food & Service, Pest Control, Hospice, Hospitals, pharmaceuticals, Education, and Universities are some of the major sectors operating here. They depend on commercial vehicles such as buses, taxis, trucks, ambulances, earth-moving equipment, mining, tankers, and road layers to keep their business up and running.

Operating commercial vehicles pose risks to drivers, the public, and travellers. Accidents are quite common on the road, at construction sites, and also within company premises. In the event of an accident, the owner has to assume responsibility for the accident. He becomes liable to compensate everyone involved for medical expenses and loss of life. To protect themselves, the owner should buy insurance in UAE for all their vehicles. This is mandatory under the law.

Where two or more vehicles are owned by the same company or by an individual, they can choose to buy a fleet insurance policy instead of buying vehicle insurance for each vehicle separately.

To be eligible to buy fleet insurance, the owner or company must own at least three commercial vehicles and get them covered under a single policy. This is the law in UAE.

Fleet Insurance in UAE – Vehicle Types, some examples 

Almost any type of vehicle can be grouped to buy Fleet Insurance in UAE. Here are a few types of groups for buying fleet insurance.

  • Cars, motorcycles, scooters, and buses used for transporting passengers – either leased out or for the company’s self-use
  • Group the vehicles based on their use – for transporting passengers or goods, company employees or tourists visiting the UAE
  • Heavy vehicles used in construction sites, laying of roads, digging trenches, laying pipelines, or carrying special equipment & machinery
Fleet Insurance in UAE – Policy Types

There are two major types of Fleet Insurance Policy in the UAE – Third-Party Liability and Comprehensive policy.

A third-party liability policy covers liabilities due to bodily harm caused by your vehicle. It will indemnify you or your company from paying any liability to the affected. It will also cover liabilities arising out of death and loss to the property of a third party when your vehicle is involved in an accident.

As the name says, Comprehensive Policy covers all liabilities. It covers everything in third-party liability in addition to liabilities arising due to natural calamities, man-made disasters, damages to your vehicle (repairing charges), and any other liabilities as mentioned in the policy document.

Best Place to Buy Fleet Insurance in UAE

Top companies and business owners located in Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, and Fujairah, in the U.A.E; can buy a fleet insurance policy from platform owned by Platinum Insurance Broker LLC.

Our Insurance Advisors helps you to find cheap Fleet Insurance in the UAE.  Get a quote today!