What do you need to know about commercial auto insurance?
Almost all businesses rely on vehicles for transport and many other reasons, they’re required to get their equipment to worksites, to get their employees where they need to be, and even to move things around within worksites.
There’s a lot of small and big businesses that use commercial auto insurance for their company vehicles such as cars or trucks for their projects. If you are a business owner owning a small business and you use your personal vehicle for your business operation, then you will still need to get a commercial auto policy if you want accidents covered while doing business operations. But if your vehicles are owned by the company, then it is imperative that you should get a commercial auto insurance.
It is worthwhile mentioning though, that a personal auto insurance policy will definitely not cover your company’s vehicle if an accident occurs. There are many clauses in a personal auto policy stating the exclusions and one of that is when it is used for business travels/operations. As you know, the coverage for a personal auto insurance is very limited, it is automatically denied when the claim is used for commercial or business purposes. You want to keep your assets and your employees safe, and that is why you need a commercial auto insurance policy.
A commercial auto insurance includes comprehensive, collision damage and liability coverage for the ones who drive the vehicles. These will allow the business to get payment for the loss or damage of vehicle and even when something gets lost inside the business car. These can be your vehicles’ tools. There is also information from U.S. Small Business Administration saying that you might need to get commercial auto insurance if you are using vehicles in the business.
What affects the rate of a Commercial Auto Policy?
- Your company’s accident history.
- The average age and background of your employees.
- How old your company is.
- The number of drivers to name on the policy.
- Where your company is located.
- Your credit score.
Commercial auto insurance usually cover medical expenses, uninsured motorists, trucks for cargo, injury and liability, property damage and liability, vehicle damage cause by collision & fire, theft, and other commercial auto insurance policies depending on the type of car you own.
If you need to get a commercial auto insurance for your business vehicles, Contractors liability can easily help you out by giving you the best quote. All you need to do is fill up the quote form on the website or call them at 877-574-8814.
General Contractors Insurance is known for having the fastest and smoothest service making us different from all the insurance agencies. They can give you the top choices in the country in less than an hour and get you a policy within 24 hours, making sure that all you have to do as our client is to sit back and relax while our agents do all the work for you.