Find Out Why Commercial Auto Coverage is a Must

Commercial auto coverage is intended for those who use their vehicles for business. If you have a business – no matter how small – and use a vehicle for work-related driving, it’s a good idea to get commercial auto coverage.

Commercial auto coverage covers the additional liabilities that come with driving for business. For example, coverage extends to employees that drive the vehicle, the work equipment and supplies carried within or by the vehicle, and any passengers in the vehicle. Your personal auto coverage wouldn’t cover these liabilities to the same extent. Commercial auto coverage can also extend to protect your business assets in the event of a lawsuit resulting from a car accident.

If you operate a business that depends on large vehicles like semi-trucks, cement trucks, construction vehicles, or tow trucks, commercial auto coverage is required by law. However, this type of auto coverage can also be applied to regular pick-up trucks or a small sedan. If you use your vehicle for business – no matter what it looks like – it can qualify for commercial coverage.

The benefits of commercial auto coverage far outweigh the risk of operating your business without it. You protect yourself from lawsuits, you protect your employees, you protect your assets in transit, and you avoid the full burden of expensive collisions.

How to Get Commercial Auto Coverage

Work with your independent insurance agent to find the best commercial auto coverage plan for your business. You may also want to consider insurance add-ons, like emergency roadside assistance so that you or your employees will never be stranded in or in a bind. Personal effects coverage will also cover any employee belongings that are stolen from your company vehicles.

Know that commercial auto coverage will be more expensive than personal auto coverage, but that’s only because it covers more liabilities. The cost of your business’s plan will be impacted by the number of vehicles, the size of your vehicles, the type of business you own, and the size of your business. The driving records of those who will be driving your company vehicles will also impact final insurance cost, so you may want to consider verifying driving records as part of your hiring process.

Don’t let costs discourage you from acquiring this essential type of insurance coverage for your business. Consider the good news: this type of auto coverage is tax deductible!

Leasing a business vehicle? In this case, you may also need to acquire comprehensive and collision coverage. This pays for damage to your vehicle should you get into an accident that you caused yourself, or if your vehicle is damaged by a type of non-collision event.

For custom consultation regarding whether your business warrants commercial auto coverage – or to get started exploring your coverage options – reach out to the insurance experts at Schechner Lifson Corporation today!