How to Get Insurance for Commercial Vehicle

How to Get Insurance for Commercial Vehicle
How to Get Insurance for Commercial Vehicle

It’s important for business owners to protect themselves with commercial vehicle insurance. Non-vehicle owner insurance is also available, which is ideal if you’re leasing vehicles for your business. Keep reading to learn how to get commercial vehicle insurance.

What is Covered Under Commercial Insurance?

Commercial vehicle insurance is aimed at business owners who use one or more vehicles for business purposes. For example, let’s say you own a construction company and you provide your site supervisors with work trucks. Having commercial insurance on these vehicles is important. The policy provides protection in the event one of the work vehicles is involved in an accident. Your personal auto policy likely won’t cover a vehicle if it’s being used for business purposes.

If you aren’t sure whether you need commercial auto insurance, it’s important to assess how you use your vehicle. Do you use it to transport goods or people? Do you charge a fee for those transportation services? If so, you need commercial auto insurance. Do you provide vehicles to employees so they can perform work-related tasks? These are all instances when you need commercial vehicle insurance.

How Do I claim Commercial Car Insurance?

Check with your current auto insurance provider to see if they offer commercial vehicle insurance. You may qualify for a discount since you already have a policy with the carrier. If you’re not pleased with the available coverage, or it’s not offered, use the internet to shop for other carriers.

How Much Coverage Do I Need For Commercial Auto Insurance?

Contact a licensed commercial auto insurance agent and ask for a commercial insurance needs assessment. This is crucial for obtaining a policy that fully meets those needs. It ensures that you’ll be compensated according to your coverage preferences in the event of a claim.

During the assessment, the agent will determine how much coverage you need for:

  • Bodily injury liability

  • Property damage liability

  • Comprehensive physical damage

  • Combined single limit

  • Uninsured motorist

  • Collision

  • Medical payments

  • No-fault

  • Personal injury

Obtain Quotes From Various Insurance Carriers

It is also important to obtain quotes from various insurance carriers. As you compare quotes, make sure to read through reviews of each carrier, and look for negative remarks relating to poor customer service and high claim rejection rates. Steer clear of carriers that have a lot of negative reviews.

Customize Your Commercial Auto Insurance Policy

Lastly, have your commercial auto insurance policy customized to meet your exact needs. This ensures you’re not overpaying for a policy with certain types of coverage you don’t need. A licensed commercial auto insurance agent will help you understand how each type of coverage works. The commercial insurance needs assessment will be of much value while customizing your policy.

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