What exactly is commercial auto insurance? Commercial auto insurance gives protection to any commercial vehicle designated for commercial use against both liability and property damage. The amount of coverage required will be based on a number of factors including the type of vehicle, where it is being used, and how many vehicles are used in conjunction with it.
There are several types of commercial auto insurance that a company can purchase. One of the most popular is the comprehensive coverage. This type covers the cost of any damage to a specific vehicle such as a factory made limo or truck. Any damage to the property and personal property of another person who is in the vehicle will also be included in the policy.
Liability coverage is also one of the most common types of coverage. This insurance protects a company or individual driver from legal claims that may arise due to an accident or collision. There are various types of liability policies that include bodily injury, property damage, property destruction, and medical payments. Each of these items will have their own set premium that is charged for every accident that is claimed by a policy holder. If you are a policy holder, it is in your best interest to purchase a high enough amount of coverage in order to cover claims. If you don't, you could be responsible for a large amount of money if there is an accident.
There are also policies that are designed specifically for business owners. These policies are called fleet insurance policies. In most cases, these policies will cover not only your vehicles but any other vehicle that has been assigned to a business. For example, if you own a limousine company and you have a fleet of limousines that are used for transporting people between facilities, the policy would include your vehicles as well as the ones assigned to the other businesses in your fleet. Depending on the policy, this insurance will cover multiple vehicles at one time. Some policies do not cover the use of more than one type of vehicle. If you own a fleet, it may be beneficial to get a policy that has the maximum amount of coverage.
Another type of commercial auto insurance that is available is called fleet insurance. Fleet insurance will provide coverage for all of your vehicles, whether they belong to your company or not. If you are a company that sells a variety of vehicles, this type of policy may be beneficial to you. You can be covered for each vehicle, while also being able to adjust the amount of coverage to suit your company's needs. If you own a business and you drive a fleet of limo buses or minivans, you may want to get a policy that has a higher premium but will also provide coverage for all of them at once.
If you own a business, you need commercial auto insurance to protect your vehicle and your employees, as well as any customers or clients that may use your car. Shop around online for companies that can provide you with the right kind of coverage so that you can remain covered throughout the years of your business.
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