What does commercial vehicle insurance mean? This type of insurance coverage is basically for the business use of cars, vans, trucks, trailers and other transportations. Customized to fit the unique needs of each business, these policies typically cover the following: (1) injury or death of drivers caught up in an on-the-job collision, (2) injury that you or one of your workers cause to others in an on-the-job vehicular accident, (3) damage or loss to your company vehicles and cargo, (4) damage you or your employees cause to others’ vehicles or property, and (5) uninsured motorist protection.
Commercial vehicle insurance quotes vary depending on the insurance provider and the types of coverage. Commercial insurance is somewhat similar to personal auto insurance but the former usually has higher coverage limits. Commercial vehicle insurance also gets more complex when the owner or his employees use personal vehicles for business use. The majority of commercial policies do not cover an employee’s personal liability and most won’t refund employees for damages caused to personal vehicles for company use. It is important to ask your agent whether commercial insurance covers your business use of personal vehicles since rules and requirements differ from state to state. Volunteers are not covered by most commercial vehicle policies so if your company has volunteers who drive company vehicles, there may be a need for additional coverage.
Generally, if your company owns or leases vehicles, regardless of how many, inquire about commercial vehicle insurance quotes as soon as possible. Some insurance companies do not include certain types of commercial vehicles, like taxi and limo services, emergency vehicles, hazardous waste haulers, and driving schools in regular commercial vehicle insurances. The coverage for these vehicles is different. Any enterprise that uses one or more motor vehicles in the course of business needs the protection offered by commercial vehicle insurance. Employed and self-employed people who use their own cars mainly for business should also get commercial insurance.
Many vehicle insurance companies provide cheap commercial vehicle insurance quotes online. You just have to be careful in choosing your insurance company. Always read all the terms and conditions before taking any chances. Knowing general information through the Internet is helpful but always set a face-to-face meeting. Find out if the policy covers the medical expenses for you and your passengers regardless of fault. Also, take note if it offers provisions for “non-owned auto” liability because this is something worth looking into if the company frequently uses employee-owned cars.
Some insurance companies offer multi-vehicle discounts in their commercial vehicle insurance quotes. Take advantage of these offers and do not forget to notify your insurance company when you have additions to your fleet.