If you operate a business, you may be wondering why you need commercial auto insurance. Isn’t regular auto insurance good enough for your business?
Commercial auto insurance offers benefits that are exclusively for business customers. With commercial auto insurance, you’ll have the protection for your business no matter who is driving.
1. Get Higher Limits
Each day you or your employee drives your vehicle, you are at risk of getting into a wreck. Wrecks involving business vehicles could lead to lawsuits.
Punitive damages, attorney’s fees and medical expenses can easily reach six figures. This amount could exceed the limits of a personal auto insurance policy. Luckily, commercial auto insurance policies have higher insurance limits that usually cover all your company vehicles.
2. Protect Business Equipment
Many business owners have business tools and equipment with them while they are driving. From catering equipment to hydraulic lifts, these tools make your job easier.
By having commercial auto insurance coverage, your insurance company will likely provide some funds to replace these tools. Unfortunately, personal auto insurance doesn’t usually cover business equipment and tools.
3. Protect Employee Drivers
As a business owner, you wear many hats. Many people are counting on you from day to day. Although you want to, you can’t be everywhere all the time.
Employees are great stand-ins for you when it comes to keeping your business running. As such, they may need to drive your company’s vehicles to conduct business.
If employees experience an accident while working, commercial auto insurance will likely help. You can simply hand them the keys so that they can get the work done. Your auto coverage will protect your business from lawsuits from at-fault accidents.
4. Meet the Requirements of Your Fleet Lease
Lessees usually require businesses to maintain commercial auto insurance. Commercial auto insurance will help protect their interests if you experience an accident. It will save them some risks of having to be at a loss in case of any damages to the business.
Commercial auto insurance protects you in a variety of ways. A desire to keep costs low may tempt you to maintain personal auto insurance on your business vehicles. But, don’t give in. Commercial auto insurance offers a host of benefits that protect your organization.
We are proud to offer a variety of commercial auto insurance options that fit your business. Call us today at (417) 206-3733 for help getting Springfield MO commercial auto insurance.