Commercial auto insurance provides coverage for vehicles used for business purposes. It protects businesses that use vehicles commercially, including transporting goods or people, from financial losses that may occur due to accidents or other incidents.
What does insurance cover?
Commercial auto insurance policies can cover a variety of vehicles, including cars, trucks, vans, and trailers. Coverage can include liability insurance, which provides protection if you are held responsible for injuring someone or damaging their property while using the vehicle for business purposes. This can also include coverage for legal fees and settlements.
Commercial auto insurance can also include physical damage coverage. This protects the insured’s own damaged vehicle in an accident or other incident. Additionally, this could include coverage for theft, vandalism, and other types of damage.
Other types of coverage may include uninsured/underinsured motorist coverage. These provide protection if the insured is in an accident with someone who does not have enough insurance. They may not have insurance to cover the damages, and medical payments coverage. Better coverage provides for medical expenses incurred by the insured and their passengers in the event of an accident.
How much does commercial auto insurance cost?
The cost of commercial auto insurance can vary depending on a variety of factors. These include: the type of vehicle being insured, the amount of coverage needed, and the driving history of the insured. Insurance providers may also consider the nature of the business and the specific risks associated with its operations.
Overall, commercial auto insurance is an important type of insurance for businesses that use vehicles for commercial purposes. It provides protection from financial losses that can occur because of accidents or other incidents. Of course, this helps businesses to manage their risk. Infinite – Risk Management and Insurance solutions is specially trained in this area and will likewise save you money.