Benefits of Commercial Auto Insurance Policy: What You Need to Know

If you are looking to expand your operations, commercial auto insurance is an asset. You face the same risks on the road while you’re operating a commercial vehicle as you do while operating a traditional vehicle. Here’s a look at the benefits of commercial auto insurance.

  • Commercial Auto Insurance Explained

    Commercial auto insurance covers any cars and trucks you drive for business-related purposes. The policy covers your vehicles whether you have a large or small fleet. If you drive your vehicle to conduct business and are involved in an accident, you’ll be left unprotected. Commercial auto insurance is essential if you transport goods, have equipment in your car, allow your employees to drive, or have high liability insurance limits.

  • Commercial Auto Insurance Policy Details

    Liability Coverage

    Commercial auto insurance includes bodily injury liability protection if your vehicle is responsible for injuring someone. The policy also covers you if you are responsible for damaging another person’s property. Liability coverage pays for your legal fees if you are sued as a result of the damages. You may inquire about combined single limit coverage, which provides one liability limit for any injury or property damage issues.

    Collision Coverage

    Similar to traditional auto insurance policies, collision coverage covers any damage to your commercial vehicles if they are hit by another vehicle or object.

    Comprehensive Coverage

    Comprehensive coverage protects your commercial vehicles if they are damaged in a fire or natural disaster. You’re also covered if your vehicles are stolen or vandalized.

    Medical Payments Coverage

    Med pay coverage protects you if you or a passenger suffers injuries from an accident. All of your medical expenses are covered. Keep in mind that purchasing Personal Injury Protection is mandatory in some states.

    Uninsured Motorist Coverage

    Uninsured motorist coverage covers any injuries you suffered during a collision with someone who does not have insurance or minimal coverage. This type of coverage ensures that your medical bills will be taken care of, including your rehabilitation.

    Hired/Non-Owned Coverage

    Commercial auto insurance does not cover any personal vehicles or rentals that you use to complete work-related endeavors. Hired/Non-owned auto insurance is an option if your employees use their personal vehicles to complete work-related tasks. Hired/Non-owned coverage protects your business against potential liability claims involving vehicles your business does not own.

  • Things to Consider

    While researching commercial car insurance NC, keep in mind that the policy may cover your family members, employees, and other people who drive your commercial vehicles regularly. Make sure that you purchase enough coverage to protect your assets in the event of potential litigation. Consulting with an insurance agent can help you find the right coverage for your business. The type of coverage you need may vary depending on your level of exposure and the type of work you do. Be sure to receive multiple quotes from different carriers before making a final decision. Research different online reviews and independent surveys on insurance companies to see how they measure up against the competition.

Consult with Pittman Insurance Group, LLC

You’ve invested a lot of time and energy into developing a successful business. Commercial auto insurance is another way to protect your investment against a potential catastrophe. Look over your policy carefully. If you have any questions about your insurance coverage, contact our experts at Pittman Insurance Group, and we will assist you.

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