Does Your Business Need Commercial Auto Insurance?
Does your business rely on vehicles for business purposes? Then you need commercial auto insurance. This is a form of insurance specifically for business owners who own cars or a fleet of trucks for business reasons. A flower delivery service or pizza parlor with delivery is a type of business that would need this insurance.
Commercial auto insurance is for any business that uses vehicles as an integral part of its operations. Usually, a business with a fleet of vehicles would purchase this type of insurance. A fleet can be two cars or hundreds of trucks. If you own a business with vehicles you plan on using for business regularly, then this coverage is for you.
What it Covers
Coverage varies based on business needs, but most commercial auto insurance policies cover the same basic situations. Comprehensive and collision coverage protects the business from expenses due to damage, theft, or accidents. Property damage coverage pays for damages the vehicle causes. Bodily and personal injury coverage pays for monetary damages due to someone getting hurt because of the automobile, as well as court costs if the company faces a lawsuit. Underinsured and Uninsured motorist coverage is available as well.
How it Works
The business owner pays for this insurance through annual, semi-annual or monthly premiums. When injuries or damage is inflicted by or to the vehicle, a claim is made by the company. The more often vehicles are on the road, the higher the risk of an accident. If your business vehicles are on the road often then commercial auto insurance is a smart idea.
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