Whether you are self employed and use your car for your work from time to time or work for a big company that requires you to drive full time, you should definitely be aware of the rules and what is allowed with commercial auto insurance. As more and more people use their vehicles as a way to make money be it delivering groceries or for rideshare, commercial auto insurance is on the rise and becoming more and more necessary.
What Owners Need to Know
If you own a company, and your employees use a vehicle to commute or transfer products, you need commercial auto insurance. It can protect you, your employees, and your business in the case they are involved in an accident while using a vehicle while at work.
No matter how big or small your business, if your employees use a vehicle, it’s important they be insured. Making sure any driver is insured is a way to reduce stress and save you from costly lawsuits or damages if an accident should occur.
Not only does commercial auto insurance protect your employees and your business, it covers damages that are caused to other people or property. It can cover medical bills if a bystander is involved but can also cover costs from vehicles that you rent or borrow for business purposes.
Types of Insurance
The most common types of commercial auto insurance are:
-Property damage: This type of insurance covers damages to property that is involved in an accident.
-Comprehensive: This type of insurance covers damages that can be caused by other factors like a natural disaster or theft.
-Collision: If your employee collides with a vehicle or other object, this allows those damages to be covered.
-Medical payments: This allows employees to receive treatment from any injuries sustained while driving a vehicle for commercial purposes
-Uninsured/underinsured motorist: This type of insurance protects your business in the case they are in an accident with a motorist who does not have insurance to cover the damages sustained in an accident.
This is just a short list of specific forms of coverage, but there are many other ways in which commercial auto insurance can help make sure your employees and business are protected.
The cost of commercial auto insurance will vary depending on the size of the business, how often it’s used, and plenty of other factors. It’s always a good idea to discuss your needs with your provider to make sure you are getting the best plan available for you.
Reach Out Today
Commercial auto insurance can be the difference between a huge loss or a standard claim, so make sure you have everything in line for your business be it just one person or a company. We’re here to help answer any questions you might have to don’t hesitate to reach out to the team at Willoughby Insurance in Buffalo, NY today!