What to Include in Your Commercial Auto Insurance Policy

When running a business that relies on vehicles, having a robust commercial auto insurance policy is essential. This type of insurance can help protect your company from financial losses due to accidents, theft and other incidents involving your business vehicles, depending on the coverages you choose.

Liability Coverage

Liability coverage is crucial as it can help protect your business from financial responsibility if one of your vehicles is involved in an accident that causes injury or property damage to others. This coverage pays only up to the policy’s dollar limits.

Physical Damage Coverage

This type of coverage can help pay for repairs or replacement of your business vehicles if they are damaged in an accident or other incidents.

Uninsured/Underinsured Motorist Coverage

This coverage is essential if your business vehicle is involved in an accident with an at-fault driver who either has no insurance or insufficient insurance to cover the damage.

Hired and Non-Owned Auto Coverage

If your business frequently uses rented vehicles or employees’ personal vehicles for work purposes, this coverage is vital. It may help provide liability coverage if the driver causes third-party injuries or property damage in an accident.

Additional Coverages

Depending on your business needs, your agent may recommend adding these optional coverages:

• Roadside assistance—This coverage may provide help if your vehicle breaks down, including towing, battery jump-starts and tire changes.
• Rental reimbursement—This coverage may help pay for the cost of renting a vehicle while your business vehicle is being repaired.
• Gap insurance—This policy may help pay the difference between the actual cash value of your vehicle and the amount you owe on a lease or loan if the vehicle is totaled.

Contact Us

Contact Adan Financial Services in Pembroke Pines, FL, for a personalized commercial auto insurance quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.