Commercial Auto Insurance
As an owner of a business, you have several goals. If you are like most owners, your primary goals are to be profitable and limit your liabilities. An easy way for you to limit your liabilities is by purchasing a commercial auto insurance policy for your business.
Understanding Commercial Auto Insurance
Large businesses with fleets of vehicles understand the importance of maintaining a business auto insurance policyIf you operate a vehicle for business purposes, you must purchase a policy for commercial use of your vehicle.
Personal automobile insurance policies will not pay claims associated with the business use of your vehicle. Whether you drive for one of the popular car service sites or you deliver flowers in your truck, you need business insurance. There are certain risks associated with business vehicles that are not covered by personal policies.
Types of Insurance Coverage
Depending on the type of business you operate, your coverage can be simple or complicated. Your coverage options include:
Medical Payments
Personal Injury Protection (PIP)
Liability
Uninsured Motorist
Property Damage
Underinsured Motorist
Collision
As you are looking for a business auto policy, there are questions you should consider. How many drivers will be operating your vehicle? How many miles do you drive your commercial vehicle each year? Do you have anti-theft devices on your vehicle that could discount your rates? What is an affordable deductible for you company? Are you transporting hazardous materials that would require additional coverage?
Benefits of Insurance Coverage
Insuring your vehicle with the right type of insurance is not an option for you. In most states, it is mandated by the law. By having business auto insurance, you will be compliant with the laws in your state.
If your personal insurance company declines a claim because you operated a vehicle for your business, you will be financially liable for damages or injury. Purchasing business auto insurance is a smart way to protect your financial interests.
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