You’ve likely made a lot of sacrifices to open your business. In order to keep things functioning properly, you have to insure every aspect of your business. If you rely on automobiles to help perform tasks, here is a look at why commercial auto insurance is an asset.
Commercial auto insurance is a policy that covers any physical damage and liability disputes regarding cars, trucks, and vans that you use to conduct business. It handles situations not covered by traditional auto insurance policies.
Benefits of Commercial Auto Insurance
Using personal vehicles to conduct business is often excluded from personal auto insurance policies. Certain types of vehicles such as box trucks, food trucks, and service utility trucks are also excluded from personal auto insurance policies. Personal auto insurance policies are written differently compared to commercial auto insurance policies. Commercial auto insurance policies provide more flexible coverage options compared to traditional auto insurance policies.
What Is Covered under Commercial Auto Insurance
Commercial auto insurance provides similar coverage as a traditional auto insurance policy; liability, collision, comprehensive, and personal injury protection. However, the terms of your policy may vary based on your eligibility, limits, definitions, and exclusions.
What Are the Different Types of Commercial Auto Insurance
- Bodily Injury Coverage
Bodily injury coverage covers any medical bills or burial expenses if you are held liable for an accident that causes bodily harm or accidental death.
- Property Damage Coverage
Property damage liability coverage protects you if your vehicle damages someone else’s property. Your legal fees are covered in the event that you are sued.
- Personal Injury Protection
Personal injury protection covers any injuries sustained by you or a passenger in an accident regardless of who caused it.
Collision coverage protects your vehicle if it is damaged from hitting another vehicle or object.
Comprehensive coverage protects your vehicle if it is stolen, vandalized, or damaged due to a fire or severe weather.
- Uninsured Motorist Coverage
Uninsured motorist coverage takes care of any damages and your medical bills if you are the victim of a hit and run accident or the other driver does not have insurance.
- Umbrella Insurance
Umbrella insurance can prevent you from suffering major losses. It covers you if you are handling a claim that exceeds your liability limits.
Purchasing Coverage Online
Before you look for a quote, you have to analyze several things about your business. You have to analyze the number of services your business offers as well as the number of locations your business has. You can amend your commercial auto insurance policy to cover your employees as authorized drivers as well as your friends and family members.
Commercial auto insurance protects your employees while they are on the road. Without it, you are at risk of one mistake causing damage to your business. Do you have any additional questions about your auto insurance? Contact the experts at First Insurance Solutions today. We are always eager to assist you with all your coverage needs.