If you run a business where your workers use automobiles, trucks or vans, or other vehicles in fulfilling their work duties, then you would be wise to be fully and properly covered by commercial auto insurance. This kind of insurance coverage provides compensation for liability and for physical damage that might happen when employees regularly utilize vehicles for the purposes of business. It is important to keep in mind that a business owner’s traditional, personal automobile coverage does not apply for any business usage. Commercial auto insurance is designed to help prevent business owners from exposure to possible financial ruin as a result of their company vehicles being involved in an accident that ends up causing physical injury or damage to property.
Commercial vehicle insurance is not too different from personal auto insurance as it too is meant to cover such things as collision, liability, medical expenses, and the risk from uninsured motorists. However, when one obtains commercial auto insurance, coverage levels, eligibility, policy limits and the kind of exclusions can be quite different.
It is important that business owners ensure that their commercial coverage includes several aspects for their vehicles. Bodily injury liability coverage, which protects a business owner should an employee-operated vehicle cause an accident that results in injury or death, is a must-have. Property damage liability is also crucial in that it provides protection from property damage costs. If you run a business where your workers use automobiles, trucks or vans, or other vehicles in fulfilling their work duties, then you would be wise to be fully and properly covered by commercial auto insurance. This kind of insurance coverage provides compensation for liability and for physical damage that might happen when employees regularly utilize vehicles for the purposes of business. It is important to keep in mind that a business owner’s traditional, personal automobile coverage does not apply for any business usage. Commercial auto insurance is designed to help prevent business owners from exposure to possible financial ruin as a result of their company vehicles being involved in an accident that ends up causing physical injury or damage to property.
Commercial vehicle insurance is not too different from personal auto insurance as it too is meant to cover such things as collision, liability, medical expenses, and the risk from uninsured motorists. However, when one obtains commercial auto insurance, coverage levels, eligibility, policy limits and the kind of exclusions can be quite different.
It is important that business owners ensure that their commercial coverage includes several aspects for their vehicles. Bodily injury liability coverage, which protects a business owner should an employee-operated vehicle cause an accident that results in injury or death, is a must-have. Property damage liability is also crucial in that it provides protection from property damage costs. Medical payments and no-fault coverage can be very helpful as they cover medical costs no matter who may be at fault. Uninsured and underinsured motorist coverage can also be quite necessary to have in the commercial policy as it protects against the often huge, out-of-pockets expenses that can come from the result of an accident with another motorist who has no insurance or inadequate amounts of coverage.
Business owners might very well be served by considering collision coverage in order to pay for any repairs or the full replacement of their vehicles if they are impacted by some kind of an object, and also comprehensive physical damage coverage is an important consideration as it also provides compensation for damage to company cars or trucks that is resulting from events other than a crash, like theft or vandalism, or fire and flooding. Whether one needs coverage for a single company-owned car or for a fleet of trucks, business owners can help avoid putting the financial health of their company in jeopardy by obtaining a properly designed and comprehensive commercial insurance policy for the day-to-day operation of their business.