Commercial Auto Insurance
Motor vehicles may often be among a business’s most important assets. However, if your company relies on automobiles within its operations, you must also be responsible for addressing related risks and exposures. Vehicle-related incidents can quickly amount to catastrophic consequences, necessitating appropriate risk management and loss control measures, such as commercial auto insurance.
What Is Commercial Auto Coverage?
Securing a suitable commercial auto insurance policy can make all the difference in the aftermath of accidents or other vehicle-related losses. After selecting the details of your policy, it acts as a contract that can help you receive the financial aid needed to absorb the consequences of incidents involving your business’s vehicles and get back on your feet.
When perusing commercial auto coverage options, the following financial protections may be advisable:
- Bodily injury liability coverage
- Property damage liability coverage
- Collision coverage
- Comprehensive coverage
- Uninsured/underinsured motorist coverage
- Roadside assistance coverage
- Rental car coverage
- Hired and non-owned coverage
Who Needs Commercial Auto Insurance?
Commercial auto insurance is among the most frequently needed types of business insurance coverage in the United States. That’s largely due to most states legally requiring companies that use motor vehicles to at least retain liability coverage. Additionally, if you’ve purchased your vehicles with the assistance of loans, your lender may impose additional insurance-related requirements.
Beyond formal obligations, a responsible company should also understand the importance of an adequate policy, as failing to retain adequate coverage could result in your company facing devastating out-of-pocket losses and expenses.
How to Get the Right Commercial Auto Policy
Contact D. Ward Insurance Services today to learn more about coverage options or get a personalized commercial auto insurance quote.