If you own a business, protecting yourself against liability and property damage claims is a must. One form of that protection is commercial vehicle insurance for all of your business vehicles.
Why Commercial Vehicle Insurance?
In 2016, transportation incidents accounted for 40% of all fatal work-related accidents. Commercial vehicle insurance will protect your business assets from claims arising from a work-related vehicle accident or fatality.
As with personal auto insurance, commercial vehicle insurance can be obtained from a reputable independent insurance agency, or through a specialized insurance agency. Your broker or agent will work with you to identify the policy endorsements and levels of coverage that meet the needs of your business, and to protect your business and personal assets in the event of a major claim.
Your Employee Driving Records Could Affect Your Coverage
When hiring drivers for your company, be sure to request a Department of Motor Vehicles print-out before extending a job offer. If the candidate has a poor driving record, your premiums will be much more than for a driver with a clean record. Never extend a job offer to a prospective driver without a Department of Motor Vehicles print-out to verify their driving record. Doing so will save you thousands of dollars in premiums each year.
Hired and Non-owned Vehicle Coverage
This coverage will be to your benefit if your employees will be using their own vehicles for business purposes, or if you rent vehicles while on business trips. Be sure this coverage includes both liability and physical damage coverage for the most protection.
What About Rental Reimbursement Coverage?
This endorsement will help with rental vehicle costs if your regular business vehicle is damaged in an accident and requires repairs. This coverage is vital to helping your business run smoothly when the company vehicle isn’t available due to an accident.
A Worthwhile Investment
Commercial auto insurance is a must in today’s business climate. In the event of an at-fault accident, commercial vehicle insurance will cover the costs of repairs and other charges related to the accident.
Protect your business’s reputation and assets with commercial vehicle insurance. Your customer and clients will enjoy the peace of mind that comes from dealing with a business that is properly insured, from its facilities to its vehicles and the people who drive them.
