Everything to Know About Commercial Auto Providers

Are you running a commercial truck company? One of the things that you will need is a good insurance provider. According to IIHS, large trucks accounted for 5% of registered vehicles and 9% of vehicle miles traveled in 2019. With this much commercial traffic on the roads, accidents are bound to happen. You should therefore make sure that your business is covered. Here's everything you need to know about commercial auto insurance providers.

What Does Commercial Auto Insurance Cover?

Commercial auto insurance providers offer policies that cover liability damages, which includes collision or comprehensive physical damage to your trucks. They also cover things like medical expenses for injured occupants and injuries to other people as a result of the negligence of your driver. Commercial auto insurance policies also provide coverage for physical damage to vehicles you own, lease, or hire. This means that with a commercial auto insurance policy, you will be covered against collision loss and comprehensive loss. The latter involves damage to your trucks caused by weather, theft, and other non-accident-related causes.

How Does Commercial Auto Insurance Work?

Commercial auto insurance covers trucks used for business and their drivers. For instance, if one of your drivers is involved in or causes an accident, your insurance policy will take care of the related costs. That said, the policy has limits. In most instances, people who get into accidents with your drivers will file lawsuits against you or the driver. If you have liability insurance, your policy will cover the costs of the claims up to the policy limit. The limit will be stated in the terms and conditions of your policy. If there are still more costs to be covered after the limit, you will have to cover them on your own.

How Do You Purchase a Commercial Auto Insurance Policy?

There are several ways to purchase a commercial auto insurance policy. The most commonly used method is purchasing the policy with the help of an independent insurance agent. The insurance agent will first study your business to determine what type of coverage you need before they make a recommendation. The agent will then help you get an appropriate policy for your business. They will also help you figure out the claims process when an incident occurs. It's crucial to use the same agent for all your policies. This will help ensure that you have adequate coverage and that you don't end up paying for unnecessary duplicate coverage.

These are some of the things you need to know about commercial auto insurance providers. It's important to ensure that your business is covered at all times. If you are looking for an insurance agent for your business, get in touch with us today.