When you own and operate vehicles for your business, it is important to avoid using a standard auto insurance policy, instead of purchasing a commercial auto insurance policy. This will not only put your business at risk, but it may also be a more costly expense for your business.
There are many benefits of commercial auto insurance, including the following:
Liability: Businesses run higher risks of being sued, especially when their commercial vehicle causes an accident, in which other parties are injured. In order to fully protect yourself and your business, you should carry the highest liability limit you can handle. These commercial liability limits are higher than standard auto insurance, and will range from $100,000, to millions of dollars.
Any Auto Liability: This will extend your current commercial auto insurance liability coverage to any recently purchased, non-owned, or hired commercial vehicles.
Rental Reimbursement: If your business’s income depends on the use of your commercial vehicles, then rental reimbursement will help to pay for rental vehicles, as well as make payments on your commercial vehicle, and cover other expenses and bills in the event you are unable to operate your commercial vehicle after an accident.
Individual Named Insured Coverage: This policy will extend coverage from your commercial auto insurance policy to the vehicles that you drive for both business and personal uses.
Non-owned Vehicle Coverage: This coverage will protect you and your employees when driving any non-owned commercial vehicles for business purposes.
Single Deductible: If your business vehicle requires the use of specialty equipment, such as trailers, you can ensure they are covered them as well. In the event of a single loss of multiple items, you would only be required to pay one deductible, instead of a separate deductible for each item lost.
For help or questions with your commercial auto insurance policy, contact Brazelton Insurance Group today!