It matters not if your business is small or large, if you have one delivery van or a commercial fleet, having some kind of commercial vehicle insurance is extraordinarily important. This kind of coverage provides protection to you in the event of an accident involving your workers or your business vehicles. Whether it be property damage, injury, or death, this type of coverage can help cover the expenses incurred due to an accident involving an employee or a third party.
The usual auto policy does not apply to the risk you take when conducting business with a motor vehicle. Without proper coverage, you could put yourself in great financial danger if there were an accident in which your vehicle or employee is involved.
An insurance professional will offer you a wide variety of commercial vehicle insurance choices. It will serve you well to research these options and determine what kind and amount of coverage would be best for your particular budget and needs. Some choices include commercial vehicle insurance, which covers you for liability should an injury or damage to property occur. This applies to accidents that involve your commercial vehicle.
Property liability insurance protects you financially from the consequences of an accident that happens in which one your business vehicle drivers is at fault. Another form of coverage called no-fault insurance will provide payment for the expense of medical service to treat the driver of the company’s vehicle and any passengers, regardless of who is at fault in the accident. Very valuable is uninsured motorist coverage as it covers any property damage and bodily injury should there be an accident and the driver who is at fault has no insurance, which in many states is quite an issue. Additionally, this coverage can pay for medical costs in the event of a hit and run accident too. Comprehensive coverage is what pays for repairs to your vehicles as a result of damage caused by anything besides a collision. Collision insurance coverage is for repair or replacement of a vehicle resulting from damage due to anything other than an accident involving another vehicle, such as a boulder dropping on the car roof or a tree falling on the hood.
The proper commercial vehicle insurance coverage can make the difference between financial calamity and a continued positive bottom line.