Everything You Should Know About Commercial Auto Insurance
Probably you have insured your business with liability insurances, such as professional liability insurance and general liability, to protect it against any potential risks that might require unexpected costs. That’s is commendable. But, what about the business vehicles? Are you aware of the benefits of commercial auto insurance policy? Keep reading as we unfold the untold about this insurance policy.
What is Commercial Auto Insurance
Commercial auto insurance policy, also known as business automobile policy, is insurance coverage that is used for business vehicles rather than personal use. Typically, it may be used to cover business trucks, a fleet of taxicabs, or cars that are used for business purposes. It helps to cater to the financial cost that your business vehicle might incur in the event of an accident, damage, or theft. It can also help to provide for medical and lawsuits expenses associated with accidents. This type of insurance is a bit expensive compared to the standard car insurance.
Who Fits for a Commercial Auto Insurance
For drivers who use their personal vehicles to commute and on rare occasions, meet clients, the personal insurance policy may cater enough coverage for them. However, commercial auto insurance might be better if:
How Commercial Auto Insurance Works
Commercial auto insurance works by insuring business vehicles, passengers, as well as commercial drivers. In case of an accident caused or involving your business vehicle, you can file a claim and receive compensation that will help you recover from the loss or damage.
Types of Commercial Auto Insurance Coverage Available
There is four major coverage offered from this insurance policy. They include:
Benefits of Commercial Auto Insurance Policy