Business owners new to running their own company often mistakenly think their business-related vehicles need not have special coverage should they already have a traditional auto policy in effect. This could not be further from the truth and it is sometimes only after an accident that one learns the truth of the necessity of obtaining good commercial car insurance.
Commercial vehicle insurance is mandated pretty much any time vehicles of any type are utilized in the conduct of business whether the vehicle or vehicles are driven by you or by your workers.
This coverage protects cars, trucks, vans and all other kinds of motorized vehicles used in the business. Although not too different from traditional car insurance, commercial car insurance provides more coverage, often for more vehicles.
A good commercial car insurance policy is essential because it covers a far more wide range of events and circumstances endemic to the operation of a business. This is certainly the case if your vehicles are utilized for transporting products or for services rendered by employees. Commercial vehicle insurance coverage has higher liability levels, which are usually necessary for businesses.
This kind of coverage can be exploited for businesses that are in the form of corporations or partnerships. It also provides liability insurance for you and your employees should anyone be involved in an accident that culminates in legal fees or medical costs and, of course, for the necessity of replacing or repairing any damaged vehicles.
How large your business is, its specific and the particular insurance company you choose will all help determine the amount and kind of coverage you’ll have with your policy. Generally, most commercial policies provide liability for bodily injury and property damage along with comprehensive and collision coverage as well. Medical payment coverage, uninsured motorist coverage and no-fault personal injury coverage are also common. All these aspects will also help to determine costs based on your needs and the kind of premiums your budget will allow.
Commercial car insurance, also referred to as business auto insurance, commercial vehicle insurance, fleet insurance or commercial truck insurance is a necessary part of owning and operating a business. It may also be a legal requirement in some states. Commercial automobile insurance offers many benefits to business owners but the biggest benefit is that it also covers your employees.