If your business owns company vehicles, then you need to protect them and the employers that drive them with the right commercial auto insurance. But what is this coverage, and are commercial policies that different from personal auto insurance in Carrollton, Texas? Here’s what business owners need to know about commercial auto policies.
Personal vs. Commercial Auto Insurance
When you compare personal and commercial auto policies, you’ll notice that both types of insurance offer similar forms of coverage. For instance, both personal and commercial auto policies will offer coverages such as collision, comprehensive, bodily injury liability, property damage liability, medical payments, and so on. The main difference between these two types of insurance is the amount of coverage that they offer. Because businesses face higher liability risks and have more assets to protect than individuals, commercial auto policies offer higher coverage limits and are designed to cover more complex legal issues than personal policies are. Additionally, because businesses can use standard cars, vans, and even delivery trucks, commercial auto policies are designed to cover a wider array of vehicles than personal car insurance.
Securing the Right Commercial Auto Insurance
Because heavy vans and trucks will cause more damage than standard vehicles in an accident, these types of vehicles face higher liability risks. If your business owns vehicles that weigh more than five tons or haul more than one-ton loads, then you need special commercial insurance coverage. Vehicles that fall into this category include minibuses, cement mixers, semi-trucks, and tow-trucks.
Who Needs Commercial Auto Insurance?
Any business that routinely uses vehicles to carry out operations needs commercial auto insurance. This includes businesses that handle the following:
This is what business owners need to know about commercial auto coverage. Do you have questions about your personal auto insurance in Carrollton, Texas? If so, then contact the experts at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers, including: Kemper, MetLife, Nationwide, Travelers, Safeco Insurance, Progressive, and American Strategic Insurance.