Do You Have Proper Commercial Auto Insurance? 

When running a business that uses vehicles, business owners must ensure they are insured properly. Commercial auto insurance is designed to cover vehicles used for business purposes. This can include cars, trucks, vans and other types of vehicles.

Key Components of Commercial Auto Insurance

A typical commercial auto insurance policy may include the following:

• Liability coverage—This is essential as it may help cover bodily injury and property damage that you or your employees may cause to others while driving a company vehicle. Your business could face significant financial losses from lawsuits and medical expenses without adequate liability coverage.

• Physical damage coverage—This includes collision and comprehensive coverage. Collision coverage may help pay for damage to your vehicle resulting from a collision with another vehicle or object. Comprehensive coverage may help cover noncollision-related incidents such as theft, vandalism or natural disasters.

• Uninsured/underinsured motorist coverage—This may help provide financial protection if your vehicle is in an accident with an at-fault driver without insurance or insufficient coverage. This can be particularly important in areas with high rates of uninsured drivers.

Your agent can help tailor your commercial auto insurance coverage with policies and endorsements to help provide appropriate financial protection for your situation.

Evaluating Your Coverage Needs

To determine if you have the proper commercial auto insurance, consider the following:

• Nature of your business—Different businesses have different needs. For example, a delivery service may require more extensive coverage than a business that uses vehicles solely for employee transportation.

• Number of vehicles—The more vehicles you have, the higher your potential risk. Ensure that each vehicle is adequately covered.

• Type of vehicles—Heavy trucks may require different coverage compared to passenger cars. Make sure your policy reflects the specific types of vehicles in your fleet.

• Employee drivers—If your employees drive company vehicles, their driving records can impact your insurance rates. It’s essential to have a policy that covers all potential drivers.

Contact Us

Contact Florida Insurance Group in Miami, Florida, for a personalized commercial auto insurance quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.