Commercial Auto Insurance
Automobile Insurance serves as a safeguard against financial hardship in the event of an auto accident. The coverage assists in paying for the damages if your company or personal vehicle(s) is damaged, catches fire or is stolen. Basic types of coverage include Liability, Collision, Comprehensive, and Accident Benefits.
Many people mistakenly believe that their personal automobile policy is enough coverage. However, these policies are not adequate for commercially used vehicles. With the proper commercial vehicle insurance, you will be protected against a greater number of perils to better keep your business safeguarded against any issues that may arise.
As a business owner, it is up to you to protect your company, your vehicles and your employees against any incidents that result during normal business operations. Regardless of the number of vehicles that your company uses, whether it is a single vehicle or an entire fleet, commercial auto insurance is a fundamental part of your success.
Commercial Automobile Risks
When there is an automobile related problem, your business is going to be affected. If you or one of your employees is involved in an accident while operating an uninsured commercial vehicle, you can expect some form of legal action will be the result.
Often times, an employee will use their privately owned vehicle while on the job. Whether it is a secretary making a run out to the office supplies store or a salesman taking a client out to lunch, your company may be held liable for any injuries or damage that occurs.
Protect your fleet
Obviously, if your business operates an entire fleet of vehicles, it just makes sense to invest in commercial vehicle insurance. In addition, this is the best way to get the most out of your commercial car insurance policy because all vehicles that are listed as part of the fleet will be covered. Your mind will be put at ease knowing that each and every one of your business vehicles is protected.
In addition to keeping your company vehicles out on the road, anyone that is operating these vehicles are protected from any legal actions. With Lloyd Sadd, you have the benefit of dealing with an broker that is experienced in commercial vehicle insurance and will work hard to provide you with the best possible policy to protect your fleet.
What does this policy type cover?
Commercial auto insurance provides you with coverage options that is similar to the insurance you have on your personal vehicle, but there are some great differences of which you need to be aware. Your Lloyd Sadd advisor will be happy to explain the available coverage options to you which include:
Liability for bodily injury
This type of coverage will protect you against the costs associated with any injuries or deaths that occur as a result of an accident caused by one of your commercially operated vehicles. In addition, this coverage will also protect you in the event of legal action.
Liability for property damage
This type of coverage will protect you against the costs associated with any injuries or deaths that occur as a result of an accident caused by one of your commercially operated vehicles. In addition, this coverage will also protect you in the event of legal action.
Combined single limit
This coverage option will provide the same dollar amount for each occurrence regardless of the quantity of persons injured or properties damaged.
Personal Injury or no fault medical
With this type of coverage included in your business car insurance policy, the medical expenses of the driver and passengers in the vehicle during an accident are covered no matter who is responsible for causing the accident.
Uninsured or underinsured motorists
In cases where the insurance of the responsible party is not enough to pay for injuries sustained by you, your passengers or your employees, as well as damaged property, such expenses will be covered by your commercial vehicle insurance policy. This type of coverage will also protect you in the event of a hit-and-run accident.
Comprehensive Coverage
If your business vehicle is stolen or damaged by vandalism, fire, flood, hail, or other perils covered by your commercial car insurance policy.
Collision Coverage
If your business automobile is damaged by hitting or being hit by an object, the cost of such damages will be covered.
To get a quote started for your commercial automobile insurance click the button to get a quote and an experienced insurance broker will get back to you to get started.