Introduction
If you own an entertainment business, you need commercial auto insurance. The law requires that all businesses carry this type of vehicle coverage, and it’s one of the most important elements of protecting your company from liability. While it’s possible to operate without commercial auto insurance, most companies buy commercial auto insurance.
Do you operate a business requiring a vehicle to deliver your goods and services to your clients? Do you have a fleet of delivery trucks that are on the road 24/7? Small firms that own or operate vehicles have the same risks as large firms. You are at risk of losses arising out of accidents that can damage your vehicles and cause injury to third parties and employees.
Not all insurance companies offer commercial vehicle insurance. Some companies that specialize in auto coverage have a separate division that handles heavy vehicle insurance underwriting. Often, you can consult with your agent, who can inform you of their coverage availability or refer you to another insurer who may be able to handle your commercial needs.
The deductible amount for your commercial auto policy should reflect the value of loss that your company can afford to absorb before filing an insurance claim.
The deductible amount for your commercial auto policy should reflect the value of loss that your company can afford to absorb before filing an insurance claim. For example, if you have a $100,000 vehicle and want to purchase a $5,000 deductible (to save money), it would make sense if the cost of the repair was no more than $4,500 or so because then it wouldn’t cost more than what you could pay out-of-pocket without having to file any claims through the insurance company.
Commercial auto insurance is a legal requirement for businesses in most states. If you don’t have commercial auto insurance, you can get a ticket and/or be sued by people who are injured on your property.
If you’re operating or storing vehicles for business purposes, it’s important to understand how this coverage works and what it covers.
Conclusion
If you own a business, you need commercial auto insurance. The deductible amount for your commercial auto policy should reflect the value of loss that your company can afford to absorb before filing an insurance claim. If not, consider raising it to reflect the real cost of an accident or theft.
Commercial business insurance is an important aspect of any business that cannot be ignored especially if the business premises are leased or rented and even otherwise. Whatever your commercial insurance needs, we can design a protection program that’s right for you.
