When your business uses company vehicles in its day-to-day operations, a comprehensive insurance policy is essential for protecting you, your employees, and your business if an accident occurs. Because of this, you know that you need comprehensive, liability, collision, and medical coverage.
However, your business may need more than the basic coverage for commercial vehicles that can be obtained through optional add-ons. If you are unsure what add-ons your company needs, you can start by asking yourself a couple of questions about your business's vehicles and their primary uses.
1. Will You at Any Point Be Towing or Carrying Cargo in Your Company's Vehicles?
One question you can ask yourself when trying to determine which auto insurance add-ons your company needs has to do with towing and cargo. Do any of your vehicles regularly tow trailers? Does your company need to transport cargo and goods?
If your vehicles will be towing trailers, ask yourself an additional question about whether they are your trailers. If you will be working with ones owned by other people, you would need trailer interchange coverage to cover those trailers.
If you regularly transport cargo and goods on those trailers or within the vehicles, motor truck coverage would be needed to insure those items. An insurance agent can help you determine the amount of coverage you would need for either of these add-ons.
2. Do You Own the Vehicles, or Will You Be Leasing Any of Them?
Another question you should ask yourself has to do with the ownership of the vehicles. Does your company own the vehicles that it uses? Or, do you lease any of them?
If you lease any vehicles for your business, you will need additional coverage to make sure that they are insured. Typically, hired auto liability insurance is coupled with hired auto physical damage coverage to ensure the leased vehicles are covered. Speak with a commercial agent to find out if the coverage is for all leased vehicles or if additional add-ons will be required.
Asking yourself the above questions can help you evaluate how your company uses its vehicles as well as plan out which ones the business owns and leases. Once this evaluation is done, you can select add-ons that will give you a comprehensive package that helps to serve your company's unique needs. To learn more about add-ons that may benefit your business, speak with an insurance company that offers commercial auto insurance to discuss your needs.
For more information about commercial auto insurance, contact a local company.