Regardless of which scale of business you run, if there are automobiles involved, you need commercial car insurance. These insurance covers are designed for both large and small vehicles used in businesses. Any vehicle owned by a business and is driven by the employee or owner can be covered under this insurance policy.
This insurance policy is necessary to protect your financial interests by covering all your liabilities in case of any mishaps. Before you buy commercial car insurance, you should be familiar with its ins and outs. This blog will help you understand the advantages and disadvantages of this insurance cover. Let's delve into the details!
Why Do You Need Commercial Car Insurance?
If you own a business and it includes any given number of automobiles, you need this insurance cover. It will provide coverage for all your motorized vehicles, even if there's just one. Since the government has mandated buying at least liability-only car insurance, it is imperative for your cars anyway.
This insurance protects your business for any damage caused by your vehicles. It is also helpful in tracking your entire insurance cost in one bill. With such commercial insurance, you don't need to repurchase insurance every time you add a vehicle to your fleet and obtain a tailored insurance cover for your requirements. Comprehensive commercial auto insurance, on the other hand, will provide cover for any mishaps with your cars. This includes natural calamities, fire, theft, etc, along with third-party damages or claims.
These insurance cover:
- Staff vehicles
- Company cars
- Cabs
- Hotel pick-up cars
- Delivery trucks or vans
- Dump trucks
- Forklifts, JCB, and other construction vehicles
- Service utility vans
- Box trucks
Advantages
Disadvantages