Top Five Reasons to Get Commercial Auto Insurance for Your Business
Many small business owners often have no clear distinctions between personal and business cars. In many instances, it is because the owner has only one vehicle. But the biggest complication with this arrangement is vehicle insurance. Using your own car for business can open you up to various liabilities. For example, suppose your business driver hits someone or incurs asset damage. In that case, you are liable for a lawsuit because the insurance company is highly likely to decline claims arising from the accident.
On the other hand, taking out commercial auto insurance allows your car more operational leeway. As a result, you are better protected from liabilities in your business activities. So, what advantages does buying this type of insurance have?
Pull More Clients
Buying auto insurance for business boosts confidence in your brand. It signals to potential clients that your brand is trustworthy. This enhanced brand image is crucial if you are dealing with precious or perishable cargo.
More Comprehensive Coverage
Business auto insurance has more comprehensive coverage beyond general liability. It also covers claims, including injuries to persons and property. If you have a growing commercial fleet, vehicle insurance for business is more inclusive than personal car insurers.
Protection For Your Business Staff
Your employees are better protected when using a vehicle that has been insured under business auto insurance. It ensures the employee's claims are covered. This arrangement shields you against claims filed by injured employees, customers, and other third parties. When a lawsuit is brought forward, the first respondent is the insurance provider.
You Qualify For Higher Liability Limits
You get higher liability limits with business auto insurance as compared to the limits by personal car insurers. You can take out commercial auto insurance up to hundreds of thousands of dollars in limited liability if you have a growing fleet.
These higher liability limits come because the insurance policy has wider coverage. Also, it offers better protection because there are adequate funds for compensation before the claimants can raid your business assets.
Legal Compliance
Some states have legal requirements to insure designated commercial vehicles under business auto insurance. Therefore, it is highly advisable to buy this cover if you do frequent interstate business. You are safer having this type of insurance rather than hazard a guess every time you go across state lines.
Are you looking to mitigate business risks? Talk to an insurance company like Rowell Insurance Agency about commercial auto insurance for your fleet.
Share
