Commercial auto insurance is for various types of businesses, but most commonly it is used by businesses that have their own fleet, however large or small that might be. The business could have a fleet of cars, vans or trucks to qualify for commercial auto insurance. As long as the vehicles are for business purposes, then they qualify.
Commercial auto policies are reasonably priced, and affordable for most businesses. When you purchase a commercial auto insurance policy, you contact your agent to add vehicles or other coverage. The agent will determine your price by considering the number of people and the number of vehicles you intend to cover. The agent will also inform you of all your coverage options.
Types of coverage include: Liability (bodily injury), Collision, Comprehensive, Medical / Personal Injury Protection, and Property Coverage.
A benefit of commercial auto insurance is if there is a problem, the insurance company handles it and you don’t worry about financial repercussions. It might be possible to self-insure your vehicles and drivers, but self-insurance can backfire if circumstances take a turn for the worse. Comprehensive commercial auto insurance covers things a business owner might not consider, like equipment and uninsured driver coverage. You might save a few dollars by self-insuring, but you could lose everything if you face a huge mishap.