If your business operates a fleet of cars or trucks—or even a single work van—commercial auto coverage should be a part of your business insurance policy. It not only protects you and your employees while operating the vehicle, but it also guards against liability if other motorists should be affected. Below is a list of some of the key protections offered by commercial auto insurance.
What Does Commercial Auto Insurance Cover?
1. Bodily Injuries & Property Damage
Commercial auto insurance includes bodily injury and property damage liability coverage. These pay for any medical treatments or repairs required if another motorist should be injured or suffer property damage in a collision that's deemed your fault. It also covers legal fees arising out of the incident. Protecting you against liability is one of the key functions of this type of business insurance.
2. Uninsured or Underinsured Motorist Protection
Typically, the at-fault driver's insurance company pays for any damages or injuries. However, if you are in an accident with an at-fault driver who does not have insurance—or whose limits do not cover the extent of damages—uninsured/underinsured motorist protection pays the difference, so your business does not pay out of pocket.
3. Medical Payments
While liability coverage pays for injuries sustained by other drivers, Medical Payments Coverage pays for treatment for you, your employees, and any passengers. It comes into play regardless of fault.
Although the last two types of coverage are optional for personal auto insurance policies, most jurisdictions make all three a mandatory part of commercial auto coverage and are, thus, a business insurance essential.
Commercial auto coverage is one of the most important components of a successful business insurance policy. To discuss your coverage options with an experienced professional, contact Siemers Insurance Agency, LLC. They've been serving Greater Cincinnati, OH, Northern Kentucky, and Southeast Indiana for more than 60 years, and they specialize in both commercial and personal insurance. To stop by their office, visit their website to view a map and business hours. Otherwise, call (513) 469-8877 to speak to an experienced agent.