If you use vehicles in your business, you’ll need the right commercial auto insurance to protect you, your business and the people driving your vehicles.
Who needs commercial auto insurance?
As a rule, you’ll need commercial vehicle insurance if:
- Your company leases, owns or rents vehicles
- Your workers drive company-owned, rented or leased vehicles
- Your workers drive their own vehicles when they’re conducting business
- You or your workers drive company cars for business as well as personal use
Protect your company
The minimum coverage amounts for commercial auto liability insurance are set by each state. Yet, most companies choose more coverage than the state-mandated minimum amounts. This is important because if an injured person sues for a larger amount than that minimum coverage, it could threaten the financial health of your business.
The basics of commercial auto insurance
Here are the basic kinds of commercial vehicle insurance coverage:
Liability insurance covers injuries and property damage to others and their vehicles if you’re at fault in an accident.
Physical damage insurance covers collisions which cause damage to vehicles.
Uninsured and/or underinsured motorist insurance covers your own injuries or property damage caused by an uninsured motorist and/or one who doesn’t have adequate liability coverage.
Medical payments insurance covers medical costs in case of injuries.
Comprehensive insurance covers damage to your vehicle resulting from causes other than accidents, such as theft, vandalism, fire, flood or damage from animals.
Other types of business auto insurance coverage
Beyond the basic types of coverage listed above, depending on the needs of your business you may also choose to add:
Roadside assistance provides additional coverage for problems such as locksmith service, needing a battery re-charged, or flat-tire assistance.
New vehicle replacement coverage lets you replace your new vehicle after a total loss with another new vehicle. This generally also includes gap coverage for amounts that you may owe above the vehicle’s actual cash value.
Auto lease or loan insurance covers the difference in value between the unpaid loan or lease amount and the actual value of the commercial vehicle if there’s a total loss following an accident.
Expanded towing coverage provides for towing of pick-ups or other heavy commercial vehicles that may not be covered by standard business auto insurance. It generally also includes jump-starts and minor repairs at the roadside.
Rental reimbursement provides for a rental car so you have business transportation following an accident.
Finding the right business auto insurance
Because each business is different, each commercial vehicle insurance policy should be tailored to fit the exact needs of that business.
At Girard Insurance Services, we can help. We’ll walk you through the entire range of available options, and answer all your questions. That way, you’ll have plenty of information to choose the right insurance for your own business.
Most importantly, we offer fast, easy claims service.
Call us toll free at 844-750-6003