Commercial auto insurance covers commercial vehicles. This policy is different from that of a personal auto insurance policy. Anyone from a pizza delivery driver to a chemical company may need vehicles to transfer their product and employees to various places, making this an important business expense. However, it's important to note that all commercial auto insurance policies work in the same way. Here's more about what you can expect from a policy and how to get the coverage that will take care of your employees on the road.
Standard Protections
A commercial auto insurance policy offers many of the same protections that a personal one will. It still covers property damage, bodily injuries, and hospitalization costs. If you need a temporary vehicle while yours is being repaired, the insurance company will typically provide it. However, commercial auto insurance takes this coverage a few steps further. For example, you may have generous liability coverage, in the event an injured party decides to sue the company.
You'll get loading and unloading liability as well, in case a covered employee damages property or expensive merchandise en route. These additional protections can be crucial for safeguarding a business from financial ruin. They're also handy if you want to limit disruptions to your business. If your vehicle is damaged by vandalism or from an unexpected weather event, you'll have the means to repair or replace it quickly.
Customizable Policies
You can alter your policy, depending on what you need from your insurance. Some companies will only need one or two vehicles, while others may require a whole fleet. Some business owners will extend their coverage with the help of an umbrella policy. This policy is not strictly necessary, but it can supplement your coverage when your commercial auto insurance policy limits run out. So, if your auto policy covers up to $300,000 in bodily injury, umbrella insurance will extend that coverage in the event hospital bills go over $300,000.
Commercial auto insurance is typically required for most businesses. If it's found that a personal vehicle was being used largely for business purposes, an insurance company may deny part or all of the claim. To get the right insurance policy for your business, discuss individual circumstances with your Auto Insurance Discounters agent. The more specific you are about everything from your budget to your responsibilities, the easier it will be to find a policy for you.
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