All businesses, big and small, need commercial auto insurance. Without the right coverage, the financial impact on your business can be disastrous, making it difficult for your company to survive the loss. This blog discusses the different types of coverage included in commercial auto insurance and why buying this insurance must be your priority.
Commercial auto insurance offers a wide range of coverage to small businesses. While having minimum liability insurance is mandatory in most states, you may buy the other coverage types based on your unique business needs.
A commercial auto insurance policy includes the following:
It covers expenses for bodily injuries and deaths caused by an accident in which you are the at-fault driver. It may also include legal expenses if faced with a lawsuit.
The coverage offers property damage repair, replacement costs, and the associated legal expenses if your vehicle causes third-party property damage.
It includes both bodily injuries and property damage coverage in a single policy with the same coverage limit for all liability claims.
The insurance protects you from out-of-pocket expenses if your vehicle crashes with another vehicle or an object.
It covers damage and loss to your vehicle caused by non-collision factors. The covered perils may include theft, vandalism, fire, and hail.
Medical coverage payments cover medical, rehabilitation, and funeral expenses for you and your employees and their co-passengers.
The coverage, also known as no-fault insurance, includes medical bills, lost wages, or funeral costs following an accident, irrespective of who the at-fault driver is.
According to the Insurance Research Council, nearly one in eight drivers in the United States do not carry insurance. Uninsured and underinsured insurance covers medical expenses and vehicle damage costs in an accident where the at-fault driver has insufficient or no insurance.
It pays for a rental car service you may need following an accident where your vehicle has been damaged or totaled.
While hired insurance offers coverage when you or your employee use a rented, leased, or borrowed car, non-owned insurance covers when employees use their vehicles for business purposes.
The insurance covers employee or third-party injuries or property damage during loading/unloading operations.
The coverage includes services like battery jumps, fuel delivery, and flat tires during breakdowns.
Small business auto insurance provides your business with an added layer of security against damaging financial losses. Commercial auto insurance pays for:
If you want California's best commercial auto insurance, your search ends with us. Our expert team at Number 1 Insurance offers customized coverage based on your specific business needs. For more information, contact us today. Call us at (714) 848-4400 for further assistance.
