Commercial Vehicle Insurance: What does it cover?
Commercial vehicle insurance is for covering cars, trucks, or vans that are for business purposes. The insurance cover can be for large fleets and even small businesses. If you own vehicles for your business, then you have to ensure that they have adequate protection under commercial vehicle insurance.
The insurance cover is necessary to cover the physical damage and liabilities that might arise after an accident. Just keep in mind that a personal auto insurance policy does not include the activities of a business vehicle.
Types of vehicles under a commercial auto insurance cover
Of course, it comes down to what type of business you do in your company. The type of vehicles covered in this case includes box trucks, work vans, food trucks, and service utility trucks. These are just a few we can mention right now.
It is not just about covering the vehicles, but also you have to think of the employees using the trucks for business. It is vital so that they can also get compensation for their injuries when they end up in an accident. Talking to an experienced vehicle insurance attorney can help you further understand which cover will be appropriate for your business.
Why do I need commercial auto insurance?
Personal insurance covers do not have the type of coverage you need for a business. It is why you need commercial auto insurance. As a result, your vehicles for the business will have enough coverage for accidents and other liabilities.
The commercial insurance cover will be good for covering many types of claims that you might need in case of an accident. Such includes the liabilities, medical payments, comprehensive cover, and more depending on the limits of the policy. When opting for the insurance, make sure to inquire from the agent to understand more about the insurance covers.
Coverages in a Commercial Vehicle Policy
It is best to understand what you will be getting with vehicle insurance before buying a policy. Below are some of the coverages that these insurance covers provide.
- Bodily injury coverage. The insurance company will pay for bodily injury or in case of death because of an accident.
- The insurance company also has to pay for property damage. It can include the repairs associated with repairing the cars or another person’s property.
- The cover will also provide medical payments for those who were injured in the accident. It does not matter who was at fault, as the company will cover their medical expenses always.
- The insurance will also cover collisions. It is where the company pays for the damage to your vehicle whenever it is hit, or it hits another object.
- Comprehensive physical damage is where the insurance company will pay for various damages. It can be when it is stolen, vandalized, flooded, or burnt.
It is easy to see why getting yourself commercial vehicle insurance for a business vehicle is crucial. Some of us do not realize the importance of such insurance covers until we get in trouble. It will be better to have the best insurance cover always. If you are unsure which one to pick, talk to an auto accident lawyer to learn more about different covers before making up your mind.