If you operate a business and own a fleet of vehicles that are used for business purposes, you should have adequate coverage for your entire fleet. The benefit you get with commercial auto insurance is that, you get a coverage option that extends across your entire fleet and the cost per vehicle would be quite minimal. Regardless of whether you use your vehicles for personal or business use; you must have a valid car insurance policy to be able to drive on the streets. It is the law to be protected by civil liability, so make sure you have commercial car insurance for your business vehicles.
No matter how large or small your fleet is, you will need to have commercial auto insurance for your cars, vans, trucks and trailers. For most businesses, this is sometimes referred to as fleet insurance, even though it remains to be a broad term. There are over a dozen types of commercial fleet insurance options to choose from, so it really ends up being the type of vehicles you have and the purpose for which they are used. In essence, a fleet insurance is used to cover a group of vehicles owned by one organization. If you have trucks and trailers, they too will need to be insured before they could be used by your drivers.
When the time comes to choose a commercial auto insurance plan, it could be quite the task, as there is just so much to think about. Before you make any sort of decision, you need to speak with a commercial auto insurance broker to find out which coverage would be best for you. You will be able to get accident benefit coverage or third party liability coverage. In some provinces, this might be considered as civil liability, which covers the other person in an accident. Accident benefits cover the driver of the business vehicle as well as any other drivers with medical or loss of income options.
Company Property Damage Coverage – Since these vehicles will be used to transport, move or ship your company goods and services; it is very likely that the vehicle will have your goods in them while in an accident. Suppose that you have a truck and trailer than transports several thousand dollars worth of goods and is caught in a fender bender, where the trailer tips over. If your company property is damaged in an accident, this coverage option will cover you for the goods that were in the accident. Most companies that deliver high end products will have property damage just to be on the safe side.
Since there are several options for fleet insurance coverage, you should really take the time when committing to one single insurance company. Look around and compare pricing to ensure that you are getting the best possible. Some insurance companies specialize in commercial insurance policies, so you might be able to get a more dedicated service from them, as opposed to a regular financial institution selling insurance products.