What to Consider When Insuring Commercial Vehicles

Commercial vehicles lined up in a parking lot

There's no such thing as a one-size-fits-all insurance policy, and when it comes to auto insurance, you should opt for extra protection for your commercial fleet. Commercial auto insurance can cover legal bills, medical expenses, and property damage if a business vehicle is involved in an accident. If using a personal auto policy for a vehicle used for business purposes, you may not have the coverage you need after filing a claim.

Commercial Auto vs. Personal Auto Insurance

A commercial auto insurance policy costs more than a standard personal auto policy. However, a commercial auto policy can offer more comprehensive coverage, including vehicles your employees own, vehicles leased by your business, or vehicles rented by your business. It also doesn't have to be expensive—insurance premiums vary based on the specifics of your business, which include an assessment of your risk profile.

Which Kinds of Businesses Need Commercial Auto Insurance?

Businesses of any size can benefit from enrolling in commercial auto coverage. You should consider commercial auto insurance for your business if:

  • Your company owns any vehicles
  • You or your employees frequently use a vehicle for business purposes
  • Vehicles are available for anyone employed by the business to use

Understanding Commercial Auto Coverage

Commercial auto insurance won't cover an employee's personal vehicle, nor any claims related to personal use. If you're uncertain which kind of policy you need for your vehicle(s), reach out to a licensed insurance agent for a professional recommendation. The cost of your insurance premium will depend on the number of vehicles written in your policy, the type and value of the vehicle(s), employee driving records, policy deductible and limits, and claims history.

Get the right coverage for your business fleet with Insurance Lounge. With so many different auto insurance options to choose from, it can be challenging to identify the best policy for your company vehicles on your own. If you're in the market for a lower rate with a different insurer or need coverage for additional vehicles, we're here to help—and we offer many different types of insurance policies. Learn more by requesting a quote today.

Tags: #auto-insurance, #business-insurance

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