Commercial Auto Coverage Help Protect Your Business Vehicles
The risks you face as a business owner vary widely from liability concerns to workers compensation issues to the possibility that one of your workers could be responsible for an accident. If you have staff members who get behind the wheel, your commercial vehicle insurance will protect your business financially in the event of incident on the road.
In some cases, it is obvious that you need a commercial vehicle policy. For example, if you have a delivery service, limousine service, or a restaurant that delivers food, you know for certain that your business takes on risk each time you or a staff member drives one of your vehicles.
But there are many confusing scenarios where business car insurance is concerned. What if you use your personal vehicle to drive your kids around and to deliver cakes from your home bakery service? What if you attach a plow to the front of your truck each winter and offer snow plowing services?
It is typically a question of primary use, but you may have a unique situation to address. If you use any vehicle for business purposes, it definitely pays to talk with an agent who understands both personal and commercial vehicle insurance so you can make sure you have the right protection to meet your needs.
With commercial vehicle insurance, there is no “one size fits all.” The variables that affect the kind of coverage you need include the size of your company, whether you have one company car, a dump truck, a fleet of limousines or freight trucks, or a few delivery vans. You also may need special coverage for transporting hazardous or flammable materials.
In addition to these factors, your commercial vehicles may be subject to state and federal regulations that impact your insurance coverage. Every business is unique, and therefore each commercial vehicle policy must be tailored to the business.
To get the right policy and the right amount of coverage for your company, talk with an agent who will fully explore your commercial vehicle usage and risks. When you meet with your agent, be sure to provide all the important facts regarding your company vehicle use, such as:
How is the company organized (from a legal perspective)?
What types of vehicles does your company use?
Who owns them?
Who drives them? You will need to provide driver’s license information for each driver.
How often do you or your employees drive these vehicles?
Do you transport people? Transport or deliver goods? Use the vehicles to provide services? What kind?
The bottom line is that a business needs a flexible, tailored company car insurance policy, and it is important to make sure your policy adequately covers your real world use and risks.