Many businesses rely on methods of transportation to complete service. Commercial auto insurance is a safety net if you are the owner of a business and use vehicles to help complete tasks.
Commercial auto insurance is a distinct type of coverage that protects any vehicle used to complete business-related tasks. You can adjust the coverage to suit the needs of your business. Commercial auto insurance is similar to traditional coverage in a few ways. Typically, commercial auto insurance includes:
- Collision Coverage: It pays to repair your business vehicles if they are damaged while on the job. It covers the vehicles if they are damaged by another vehicle or object.
- Medical Payments Coverage: It pays the medical costs for you and any passengers present in the vehicle who are injured in an accident.
- Liability Coverage: It protects your business if you are held responsible for causing an accident that leads to serious damage or people getting hurt. It can also include uninsured and underinsured liability coverage.
- Expanded Towing Coverage: This can help you if you need urgent towing service, fuel, or a jump start.
- Rental Coverage: You can also add this coverage to your plan so that you will have access to some rentals if your fleet of vehicles suffers serious damage.
- Comprehensive Insurance: This financially covers you against any damage to your vehicle from anything that does not involve an accident. These include theft, vandalism, flood, fire, earthquakes, etc.
Commercial auto insurance policies generally have high coverage limits because commercial vehicles need more protection than personal vehicles. Common vehicles protected under commercial auto insurance include cars, vans, pickup trucks, box trucks, and food trucks. Keep in mind that commercial auto insurance can cover both industrial vehicles and personal cars used to carry equipment and transport customers.
Is Commercial Auto Insurance the Right Fit for Your Business?
If you are wondering whether commercial auto insurance is a necessity for your business, in most situations, it is. If you use a vehicle to complete work-related tasks, you need commercial auto insurance. It’s the easiest way to protect your business if something goes wrong. Remember, driving is a high-risk endeavor, and any mishap could occur at any moment.
Common Endeavours that Makes Purchasing Commercial Insurance Necessary
Commercial auto insurance covers you if you transport goods or pick up people as part of your work responsibilities. Commercial auto insurance coves you if you directly rely on your vehicle to complete a service. If you are involved in a high-risk field, commercial auto insurance can give you peace of mind against your challenges on the job. You require commercial auto insurance if you have large equipment or plan to add a trailer to your vehicle to help enhance service. You also need commercial auto coverage to help navigate the risks associated with your employees operating work-related vehicles or if your business is a partnership or owned by a corporation.
Commercial auto insurance is an asset. One minor disaster could cause significant problems for your business if you don’t have the right protection. If you have any questions, the team here at Young Insurance will help you find the coverage you need to protect your business in any situation.