Commercial Auto Insurance Policies
Commercial auto insurance protects your business vehicles against loss or damage. If you have vehicles that you use for your business, commercial auto insurance is a necessity. Having commercial insurance covers incidences that are not covered by a personal auto insurance policy.
Commercial Insurance - Do I Need It?
When it comes to purchasing insurance, it is better to err on the side of caution. It is never a good idea to conduct business in your vehicle without commercial insurance. If an accident occurs, your personal insurance will not cover the damages or loss. Professions that require commercial insurance are truck drivers, pizza delivery people, couriers and business owners.
You may be unsure whether you need commercial insurance. If the following situations apply to you, then business auto insurance might be necessary.
- You charge a fee to transport people or goods in your vehicle.
- You are towing a trailer that hauls business tools or equipment.
- Your vehicle is registered in the name of your company.
Types of Coverage
Commercial insurance protects you against several types of loss and damage.
1. Liability provides coverage against the property damage or injuries to other people.
2. Property damage covers expenses associated with hitting objects such as pets, utility poles, mailboxes, fences and homes.
3. Bodily injury provides protection if you or another insured person injures another person.
4. Uninsured motorist provides protection if you are injured or suffer damages as a result of a motorist who is not insured.
5. Personal Injury Protection provides medical coverage for you or another insured person if you get injured in an accident.
6. Underinsured motorist provides protection if a person hits you, and they do not have enough converage to pay your expenses.
One of the major benefits of having business auto insurance is your claims will be covered. If an insurance company refuses your claim, you will be responsible for the expenses Operating your business with the right type of auto insurance will protect your assets.
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