If you are a business owner and your business involves the use of vehicles for work purposes then you need commercial auto insurance for your vehicles. Commercial auto insurance is different from your personal auto insurance on many levels and the same will be explained in this article further.
What is Commercial Auto Insurance?
A Commercial Vehicle Insurance is a customized motor insurance policy to cover for damages and losses caused to or by a commercial vehicle and the respective owner-driver.
Personal Auto Insurance
Commercial Auto Insurance
Covers only personally owned vehicles
Covers non-owned or hired vehicles too
Won’t cover business use like delivery of goods, employee transport, etc.
Won’t cover when the vehicle is used for non-business purposes
How does it protect you?
Commercial Auto Insurance provides the below-mentioned coverages and more.
- Collision insurance
- Comprehensive insurance
- Liability insurance
- Uninsured motorist coverage
Who all need Commercial Auto Insurance?
- Businesses that include transport of goods or people for a fee in your vehicle.
- Business owners who conduct a service with your vehicle.
- If you need higher limits of liability because of the nature of your work.
- If you haul a considerable weight in tools or equipment or towing a trailer used to conduct your business in your vehicle.
- Businesses whose employees operate the vehicle or if ownership is in the name of a corporation or partnership.
Commercial auto insurance is very different from your personal auto insurance. So, if you own a business that involves the use of vehicles for work-related tasks then you must consider buying a commercial auto insurance policy as your personal auto insurance policy may not provide you elaborate coverage. To know more, get in touch with us on 855-5EXCEED or get a quote now: https://www.exceedinsurance.com/auto-insurance/