In the multi-vehicle covering tour problem with speed optimization, we aim to construct a set of maximal coverage routes for a fleet of vehicles that serve (observe) a set of secondary sites, given a fixed time schedule and coverage requirements. We develop an exact solution approach using a branch-and-price framework with a label-correcting algorithm and a set of innovative dominance rules to solve the resulting pricing problem. We also develop a two-stage heuristic capable of finding effective initial solutions. In addition, we consider practical extensions to the model by incorporating risk thresholds, energy capacities, and time windows. To validate our proposed solution approaches, we perform an extensive set of numerical experiments. Numerical results show the computational advantage of our proposed solution approaches compared with a state-of-the-art commercial solver.