If you or your employees drive vehicles for business, using standard auto insurance instead of commercial auto insurance can put your business at risk. Here are some benefits of commercial auto insurance:
Liability: Businesses run higher risks of being sued when commercial vehicles cause accidents leaving other parties injured. You should carry the highest liability limit you can handle. Available commercial liability limits are higher than standard auto insurance-ranging from around $100,000 to millions of dollars. Most commercial policies also offer single liability limit amounts.
Any auto liability: This extends your current commercial auto insurance liability coverage to any recently purchased, nonowned, or hired commercial vehicles.
Rental reimbursement and downtime: For businesses with incomes that depend on commercial vehicles, rental reimbursement helps pay for rental vehicles, makes vehicle payments, and covers other expenses and bills if you are unable to operate your commercial vehicle after an accident.
Individual named insured coverage: This extends coverage from commercial auto insurance to vehicles you drive for both business and personal uses.
Nonowned vehicle coverage: This protects you and your employees when driving any nonowned commercial vehicles for business purposes.
Single deductible choices: If your business vehicle uses specialty equipment or trailers, you can cover them as well as the vehicle. In the event of a single loss of multiple items, you’d only pay one deductible rather than a separate deductible for each item.