Your Business’s Vehicles
Regardless of the type of business you have, you probably use one or more vehicles to get around. Depending on how your organization operates, this can include vehicles that are owned or leased by the business, hired out for limited use, or owned by employees but used for reasons related to your business.
This last category, the employee-owned vehicle, is frequently overlooked, but this is an important element of your policy if you ask your employees or staff to use their personal vehicles for even small errands, like taking a check to the bank or visiting a supplier or customer.
Finding the Right Business Auto Policy
Let us build a custom commercial auto policy that meets your specific needs. There can be different limits and types of coverage for each vehicle, so it is important to have an experienced insurance professional who understands how to evaluate your unique needs.
Your policy will clearly specify:
- Each covered vehicle
- The specific liability and physical damage coverage for each
- Your limits of insurance
- Business use definitions
- Who is insured
Understanding Coverages
- Liability: covers third-party medical costs or damage awards for bodily injury, death, or physical property damage/losses due to the negligence or fault of the individual driving your insured vehicle.
- Comprehensive: covers damage to your insured vehicles that occurs for reasons other than collision, such as weather, animals, vandalism, or theft.
- Collision: available alongside liability and comprehensive coverage. Helps with the cost of vehicle damage caused by your driver.
- Specific perils: adds hazards or events that are excluded from the main policy that could lead to vehicle damage while it is on your property.
- Uninsured and/or underinsured motorist bodily injury and property damage pays if your business vehicle is hit by someone who has insufficient insurance to pay for your losses.
- Personal injury protection (PIP): pays for medical treatment for the driver and passengers of the policyholder’s car. It may also help with injured parties’ lost wages and the cost of replacing the services of the injured driver.
- Non-owned auto: this specifically insures rented, leased, or borrowed vehicles used by the business or for its purposes.
- Fleet insurance: covers all your business vehicles.
Richland-Knowles Agency Can Help
You take care of your business, and we’ll take care of you. We offer:
- Clear identification of the number and types of vehicles insured, as well as the causes and types of damage covered
- Customized coverages, limits, and deductibles by vehicle
- Annual policy reviews to ensure adequate coverage. Responsive, friendly claims professionals
- Easy claims reporting process
Give us a call or reply to this email to get started. We look forward to helping you stay safe on the road!
