Commercial auto insurance is a must if your business relies on vehicles for daily operations. Let Advantage Insurance Network, serving the greater Cincinnati, OH area, help you to understand this product better.
What Is Commercial Auto Insurance?
Commercial auto insurance is a policy designed for vehicles used primarily for business purposes. It covers a range of vehicles, from company cars and delivery vans to trucks and trailers.
Types of Coverage:
Liability Coverage: This is the core of commercial auto insurance, covering bodily injury and property damage your business is legally responsible for in an accident.
Collision Coverage: It covers repairs or replacement of your vehicle if it’s damaged in a collision with another vehicle or object.
Comprehensive Coverage: This covers non-collision incidents, such as theft, vandalism, or natural disasters.
Uninsured/Underinsured Motorist Coverage: Protects you if an uninsured or underinsured driver is at fault in an accident involving your business vehicle.
Medical Payments Coverage: Pays for medical expenses for you and your passengers, regardless of fault.
Cargo Coverage: If you transport goods, cargo coverage protects against damage or theft of the goods you’re carrying.
Why Is It Necessary?
Commercial auto insurance is necessary because personal auto insurance typically excludes coverage for vehicles used primarily for business purposes. Without the right coverage, your business could face significant financial losses in the event of an accident or vehicle damage.
Navigating the road to commercial auto insurance coverage can be complex, but protecting your business assets and operations is vital. If you want to purchase a new commercial auto insurance policy in the greater Cincinnati, OH region, the team at Advantage Insurance Network would love to help. Call us today for an estimate.