Accidents, natural disasters, and car damage can bankrupt you without auto insurance. Auto insurance may cover more than just the vehicle owners. Consider obtaining commercial auto insurance if you operate a business that often transports clients or employees in company vehicles.
Commercial auto insurance is a necessary coverage for business vehicles. Commercial vehicles may include SUVs, vans, trucks, and other large autos.
It’s ideal to have commercial auto insurance if you own a business and use a vehicle for business-related travel. You should also obtain this policy for your employees if they use company vehicles for work-related purposes.
Commercial Auto Insurance Coverage
If your company needs auto insurance, you must understand commercial auto policies. The information below may help you compare plans and choose what suits your business the best.
This coverage may pay for any fatalities or injuries resulting from an accident you got on. Liability coverage may also protect you if your vehicle accidentally damages another person's property; in most circumstances, it may provide you with a legal defense.
The provider may cover car damage. It does not matter who is at blame if your car flips, collides with another, or is hit. Collision coverage may be essential if you have a lease or a loan on your vehicle.
Your auto insurance may cover non-accident-related damage. This may include robbery, flooding, vandalism, environmental disasters, and animal damage.
Uninsured Driver Protection
This insurance may cover you if an uninsured or, in some areas, an unidentified driver causes you harm and destroys your property. Some policies may cover underinsured drivers when the at-fault driver lacks insurance.
Benefits of Purchasing Commercial Auto Insurance
Combining two of the most common coverage types benefits policyholders and insurers equally.
Here are additional benefits of investing in commercial auto insurance:
When a single policy meets a company's most common insurance needs, costs are reduced significantly. As a result, the insurer's risk is spread across several policies.
Fewer insurance plans simplify the handling of claims. Reduced paperwork, billing, and explanations of policy coverage will save you time and effort.
Even though Commercial Auto Insurance includes coverage forms that would normally be on a single policy, commercial policy packages usually offer more coverage than individual insurance.
More Insurance Providers
Although monoline plans are common in the excess and surplus insurance market, unless your business is very large, you are better off looking into commercial vehicle insurance. Even if you don't combine, having a choice of insurers increases the likelihood of getting a better policy at a more affordable premium.
Commercial auto insurance is more expensive than personal auto insurance because there are more risks and more coverage needs when running a business. The commercial package policy is one of the most important types of insurance. Not only does it offer a lot of protection, but it also lets you buy that protection at a great price.
At Cornerstone Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (770) 413-0807. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!