Commercial auto insurance is essential for any business, small or large, that deals with or uses vehicles. It covers vans, trucks, cars, and an entire fleet of vehicles in case of any damage. Many business owners assume their personal auto insurance policy covers any claims made during business operations.
Unfortunately, this isn’t the case since personal auto insurance is limited to an individual when it comes to coverage. If you want a policy designed for business entities that can cover personal injuries, collisions, other liabilities, and uninsured motorists, commercial auto insurance is your best option.
Additionally, you can purchase insurance that can cover you in case of damage caused by theft, fire, floods, and hail. Here are some reasons why you should buy commercial auto insurance for your business.
1. Insures employees
Commercial auto insurance provides coverage for both you and your employees. For example, if you have drivers for your business, they are covered under your insurance policy’s terms. If your employees also use their vehicles for business purposes, most commercial auto insurance policies cover them.
However, ensure you consult with your insurance provider to understand the circumstances of coverage for your employees.
2. Compliance
Texas law requires all vehicles on the road to have insurance. Therefore, getting commercial auto insurance for your business ensures it’s compliant with the local and state laws.
3. Specialized coverages
Through commercial auto insurance, your business can get many specialized coverages. Some insurance providers also include these without any extra charges. They include;
• Loan or lease gaps: this gap occurs when a leased car is completely wrecked, and its actual cash value is less than the amount you owe to a bank or rental company
• Physical damage to borrowed or hired vehicles: if you rent a car for your business and it gets damaged, a commercial auto insurance policy protects you financially.
Hire us
Commercial auto insurance ensures your business is financially protected from any unforeseen circumstances when running operations. EZ Insurance offers both cheap auto insurance and commercial auto insurance to vehicle and business owners in Austin, Texas. Contact us today to request a quote.
