If you own a fleet of cars or trucks for a business, having commercial fleet insurance provides several levels of protection, such as liability coverage, property damage coverage, collision coverage and uninsured motorist coverage. Commercial fleet insurance policies are similar to personal auto insurance policies, but the eligibility requirements, limits and coverage options will vary depending on the insurance provider and the types of vehicles you are insuring.
There are several reasons to purchase commercial fleet insurance. The type of coverage you select will depend on your business requirements and how often you are using your vehicles.
How Commercial Fleet Insurance for Automobiles Works
Commercial fleet insurance is designed to protect several vehicles under a single policy and can save you hundreds, even thousands of dollars in repair and replacement costs in the event of an accident, natural disaster or vandalism. The types of coverage available with commercial fleet insurance vary by insurance provider, but most offer the following options:
– Bodily injury liability coverage
– Property damage liability coverage
– Combined single limit (CSL)
– Medical payment or no-fault coverage
– Uninsured motorist coverage
– Comprehensive physical damage coverage
– Collision coverage
The amount of coverage you select will depend on how often the vehicles are driven, where they are driven and your budget. Discussing all of your options and the benefits of each type of coverage with a professional insurance agent can help you make the best decision for your business, and ensure that all of your vehicles are adequately protected.
Reasons to Purchase Commercial Fleet Insurance
If you own a business that uses five or more vehicles as part of business operations, you can purchase commercial fleet insurance to protect all of your vehicles under a single policy. Commercial fleet insurance is a good match for business owners who own a fleet of taxis, vans, trucks, corporate cars and other vehicles. You need to purchase commercial fleet insurance to:
– Save money on the cost of repairs or replacement of vehicles in your fleet
– Protect yourself from a lawsuit in the event one of your drivers gets into a serious car accident
– Ensure a vehicle from the fleet is replaced if it is stolen or wrecked in a car accident
– Pay for damages of another person involved in an accident
– Cover the costs of property damage and injuries if one of your drivers is hit by an underinsured motorist
Buying commercial fleet insurance for your automobiles offers a number of benefits for your business and can prevent a costly lawsuit. Make sure your auto policy provides enough coverage against property damage, bodily injuries, theft, collision and other types of damages so that your business is not responsible for the high costs associated with an accident or natural disaster.