COMMERCIAL AUTO Insurance – Customer-friendly
Whether you own one commercial vehicle or a fleet of vehicles, you likely will be required to purchase and maintain a commercial auto insurance policy. This is a special type of coverage that is suited for vehicles that are used for business or commercial purposes. Many states have special minimum liability insurance requirements for commercial vehicles, and the requirements often vary based on the type of vehicle that is being insured. In addition, many auto lenders also have minimum coverage requirements, and business owners must understand what the minimum requirements for their vehicles are before making a purchase.
Commercial auto insurance may be used to cover cars, trucks, SUVs and even big rig trucks, and the coverage options may vary based on the type of vehicle that is being insured. In addition, how the vehicle is used may impact minimum coverage requirements and the type of coverage that is available. For example, taxis, limousines and other passenger vehicles may have more liability options available than a utility van that is used to transport flowers or baked goods.
This type of coverage generally will cover the employees who drive the vehicle as well as those who are passengers in the vehicle. Optional coverage may be available for the equipment or products that are hauled in the vehicle. In addition, most of these policies include a liability component, and this will protect your business financially if you or an employee causes an accident in the vehicle.
There are also optional coverages available, and these may include uninsured or under-insured motorist coverage and medical payments coverage. They may also include personal effects coverage and roadside assistance. It is important to understand the benefits of optional coverage and to compare those benefits against the cost of the coverage.
When you file a claim on a commercial policy, your business will need to pay the deductible, and the insurance may cover losses up to the maximum expenses allowed. Additional expenses may need to be paid for by the business. If you are searching for a commercial policy for your vehicles, focus on setting up a policy that is protective and affordable.