Commercial Auto Insurance for Business Vehicles
Any business that uses automobiles for business purposes should have commercial auto insurance. A personal auto insurance policy is not sufficient for business purposes. Most business owners only learn this after an accident. Take a minute to learn the basics of commercial automobile insurance and its importance.
Commercial auto insurance is required when vehicles are used for business purposes. This insurance is for coverage to cars, trucks, vans and any type of motor-driven vehicle for business. The main difference between this coverage and regular auto is that commercial coverage provides more coverage and more vehicles.
A commercial policy covers a wider range of events which may take place in a business. This applies mostly if the vehicles are used to transport products and services or employees drive them. Because of this, commercial vehicle insurance provides higher liability amounts.
This type of insurance also provides liability coverage for you and your employees. It kicks in if an accident results in legal fees or medical bills. It also replaces or repairs vehicles.
The amount of coverage you need depends on the size of your business and your company needs. Some common polices include liability for bodily injury and property damage. Then there is comprehensive insurance, collision coverage, medical payment coverage, and uninsured motorist coverage. You need to speak with an insurance agent for specific details.
If you have any vehicles for business purposes, then it’s in your best interest to have commercial auto insurance. Even if your state doesn’t require it, it’s a good idea to protect your investments.