No matter what size of business you own, if you have motor vehicles that you use in the business, you need to have commercial vehicle insurance. This automobile coverage will help to protect you from liability if your employees have an accident. Whether injury or property damage occurred to the employee or to a third party, commercial vehicle insurance can help to cover some of the expenses.
Regular automobile coverage does not cover business usage of a vehicle. This could leave a business owner or the business employee at a huge financial risk if there is damage to the vehicle, a person, or to property. Just as with any insurance, there are a variety of choices that you can choose from for commercial vehicle insurance.
When looking at insurance policies, it is important for business owners to determine how much they want to be protected.
- Commercial vehicle insurance – can pay for injury liability or death liability due to an accident connected with a commercial vehicle
- Property liability coverage helps prevent financial loss to the business owner in case of an accident involvement one of their business vehicles
- No fault coverage helps to decrease the cost of medical expenses to treat a driver and the passengers of the business vehicle, no matter who was to blame for the accident
- Uninsured motorist policy covers the costs of body injury or property damage if the at-fault driver does not have insurance coverage. It also pays the medical expenses in the case of a hit and run accident that involves your business vehicle
- Comprehensive coverage covers repair costs to your vehicles due to natural disasters, theft, or damage other than accident
- Collision coverage covers damage that is caused by another object, such as a pole or tree falling