Commercial Auto Insurance
Owning a business is not only a financial risk but also can create financial difficulties when certain problems arise and one is not insured correctly. Insurance is designed not only to protect your business but also for employees and company property. Commercial auto insurance is needed to protect your business in the case of an auto accident. Generally, your commercial liability policy does not cover the business vehicles.
What is Commercial Auto Insurance?
Commercial auto insurance is designed to protect all vehicles related to your company or business that employees drive either on a daily basis or when needed. This type of insurance, as well as any driver that uses said vehicles would cover any car in the company’s name.
Why do I need Commercial Auto Insurance?
Businesses or enterprises that own one or multiple vehicles used by company employees and for business purposes, then commercial auto insurance is needed. The insurance policy will cover all damage related costs to the cars and can be purchased affordably and customized. Commercial auto insurance policies are convenient for tracking purposes as well as create less work of managing various expenses related to insurance needs. Having a plan in place will ensure all of your business vehicles are covered under one monthly premium payment with a policy tailored to your needs.
What is included with a Commercial Auto Policy?
Like most automobile insurances, the following are covered and/or provided under each policy:
- Property damage – covers any damage sustained to company vehicles
- Bodily injury – covers related medical expenses for injuries sustained in an accident by either driver
- Uninsured motorists – covers the costs of repairs and injury if other driver does not possess insurance
- Medical payments – any medical treatment required due to bodily injury
- Collision coverage – any damages sustained in a collision
- Cargo coverage – covers any property being transported in the event of an accident or damage
Driving Records and Risks
Companies who use vehicles for business-related purposes are recommended to run a background check on each employees driving record. All it takes is one time of allowing an employee with a bad driving record to get behind the wheel and all of a sudden your company is paying out money for medical costs and repairs. It can be detrimental to a business and is definitely preventable. Checking driving records of employees is not only a smart move on the business aspect of things but also ensures the safety of your employees and the general public.
How can Risk Managers help?
We at Risk Managers are dedicated to providing you with the best insurance options for yourself and your business needs. Commercial auto insurance is not like an individual auto insurance policy regarding cost because there is a high probability of a claim occurring with business policies with vehicles.
We recognize that cost may be a factor, so we offer services to check employee driving records for you to ensure that your policy is the best fit based on claim occurrences, risks, driving record stats of the employees and budgeting needs. Risk managers will strive to provide the best insurance policies for our clients, and we will help you every step of the way.