Choosing The Right Insurance
The Benefits of Proper Coverage
Driving is one of the most risky behaviors the general population commonly practices. So it is no surprise that insuring vehicles and protecting drivers is vital to any business. As underwriting stipulations for business auto insurance deepen, it's become increasingly important for organizations to find reliable and accurate commercial auto insurance.
Liability Coverage
Business auto insurance is more than repairing damaged vehicles. Auto accidents can cause costly damage to roadway infrastructure, interrupt business activity, and cause injury or worse. Without proper liability protection, auto accidents can spell disaster for businesses.
Medical Payment & Lawsuit Coverage
Collisions often result in bodily harm and expensive medical costs for you and those involved in an accident. Commercial auto insurance policies offer some protection for these expenses and can cover medical costs, lost wages and even legal expenses should a lawsuit be brought against you.
Comprehensive Coverage
Collisions aren’t the only source of vehicle damage your business needs to consider. Commercial auto insurance can provide comprehensive protection for damages that are unrelated to an accident (e.g., losses related to theft, floods, vandalism and fires).
Protection Beyond Personal Auto Insurance Policies
Simply put, personal auto insurance doesn’t provide adequate coverage for any accidents that occur while policyholders are driving for business purposes. In the absence of commercial auto coverage, companies would have to pay out of pocket should employees get in an accident while making deliveries, picking up supplies or using a vehicle to perform essential business functions.
Optional Add-Ons for Even More Security
Beyond standard protection for collisions, commercial auto insurance policies can often be customized to meet your needs. Common policy add-ons (also known as endorsements) include roadside assistance coverage, new vehicle replacement cost coverage, towing reimbursement, rental reimbursement and gap coverage for auto loans or leases.
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Want to Learn More About Commercial Auto Insurance?
Commercial auto insurance isn’t just for large fleets. Any car, truck, van or similar vehicle used as part of your operations needs to be covered. To learn more about commercial auto insurance and to secure a policy of your own, contact Loft & Co Insurance Services today at 800-969-9740.