Commercial Auto Insurance Policies
Commercial Auto Insurance
Commercial car insurance is essentially designed to cover company vehicles in the event of an accident. Company vehicles are those that are used primarily for moving products or people. This type of coverage shields policyholders from liability issues and expensive repair bills should a business vehicle sustain damage, be totaled and from other costs due to accidents.
Similar to personal auto insurance coverage, a commercial auto policy protects company drivers should they be involved in accidents. There are a few kinds of coverage that can be purchased, again like a personal car insurance policy. Commercial car insurance can include simple liability and/or personal damage coverage and can offer such additional coverage as uninsured motorist, roadside assistance, also medical payment insurance.
Good commercial vehicle insurance is tailored for all kinds of businesses in which the operation of vehicles in the conduct of business are required. Not only is this form of coverage often mandated by law, but it is also necessary to shield a business owner from many legal, medical, or repair costs. Businesses, big or little, can benefit nicely from the use of this kind of a policy.
Basically, the commercial auto policy is similar to a normal auto policy. Like personal car insurance, the company will need to first determine what coverage level and types of protection they require. After this is seen to, the business buys the policy of choice. The insurance company provides a contract to be signed and finally the coverage is activated. From that point on, the policyholder (company or sole proprietor) is responsible to pay the premiums regularly on time until such a time in which a claim needs to be filed. This is all done in accordance with the intact procedures of the commercial car insurance provider.
There are usually two types of coverage provided with commercial car insurance. The most often seen is “per vehicle coverage”, which is normally bought by small to medium sized companies. Per vehicle insurance means an individual policy must be bought for each vehicle used for the business. Larger companies will enjoy cost-savings to obtain fleet insurance, which is highly comprehensive in its coverage for vehicles and employee drivers. All employees who drive that particular car must be covered on the policy.
Businesses that go for the most wide ranging commercial auto insurance coverage often use some terrific benefits. Protected companies have liability protection from legal action taken by those initiating a lawsuit that is aimed at a company vehicle. Also are the benefits of compensation for vehicle repairs, which are often quite costly. (Many insurance companies a chosen mechanic directly for completing necessary repairs.
Commercial auto insurance provides peace of mind and priceless protection from potential liability headaches. It also gives a company protection from expensive repair bills after a company vehicle is involved in an accident. A business owner is wise to take learn more about policies for commercial vehicles.
Back to Home
Learn about Auto Insurance
Learn about Homeowners Insurance
Learn about Life Insurance