Commercial auto insurance is different from regular auto insurance, as the insurance here covers the vehicle that is being driven or used for commercial purpose. The aim of the insurance is to protect business owners as well as their employees, if involved with an auto accident.
If you are running a business that makes use of vehicles for transportation or delivery purposes, like the car rental services, or food delivery business, you are expected to carry a certain commercial liability insurance. The commercial vehicle insurance will keep your business protected from financial responsibility, in case of an accident. You will also need an auto insurance if you are a commercial driver. As a business owner, you should know the commercial insurance is carried by the business and does it include the Commercial auto insurance. If yes, then does it comprise of collision coverage, motorist coverage and comprehensive coverage. Once you have some clear answers, then you will have a fairly good idea about the commercial vehicle insurance you are carrying and if there is any need to buy more.
Commercial auto insurance is very essential and one must make sure that they are meeting their state’s liability requirements that vary state by state. The aim of the insurance is to offer complete protection to the business, employees and the vehicles.
Commonly Insured Commercial Vehicles
Some of the most common insured commercial include the passenger car, minivan, passenger bus, agricultural truck, minivan, cargo van, straight truck, flatbed truck, car carrier, catering truck, delivery van, cement mixer, ice cream truck, limousine, pickup truck, sport utility vehicle, pump truck, trunk tractor, tow truck, Wheelchair bus, refrigerated truck, etc. Other commercial vehicles that might also need insurance are garbage trucks, front loaders, roll-on vehicles, etc. As most of the insurances offered cover only the physical damage for these vehicles, it is essential to ask about the type and amount of coverage available.
Without the proper coverage, you are not complying with the law as well as not offering the proper coverage to your business or the vehicle. It is not wise to jeopardize a company’s future and the employee’s life. Learn about the commercial auto insurance available and the amount that applies to your situation and business. Educate yourself on the subject so as to make the right choices and get the best possible cover for your business as well as the vehicles used in the venture.