When your business owns vehicles, there are unique risks that come into play that you need to account for. With a business auto insurance policy, you can safeguard against those risks.
A vehicle collision is never good news, but when it’s one of the cars or trucks owned by your business, the consequences are more complicated. Business auto insurance takes all the elements of normal auto coverage and adds on extra protection. This may include coverage for the following:
For example, when obtaining business auto insurance you may usually get much higher liability coverage to reflect the fact that a business typically has more assets at risk than an individual would. Additionally, you can get collision insurance. This type of coverage pays out for damage to your vehicles no matter who caused the collision—a protection that’s often a must if you lease or finance commercial vehicles.
If your employees are using their own personal vehicles for business-related reasons and they get into an accident, your business might be held liable. With non-owned auto liability coverage, your business may be protected.
It’s also worth considering non-owned auto liability coverage, which is an add-on or a separate policy covering those instances when your employees drive their own personal cars or trucks as part of their work for your business. This type of protection may help reduce the risk of messy legal complications if they are injured or their vehicle is damaged while on the job.
Business auto insurance is essential for those that run a business. Contact us to learn more and to go over your specific needs and coverage options.