May 4, 2023 Auto Insurance, Commercial Insurance 0

Do You Need a Commercial Auto Insurance Policy?

As a business owner, you understand how important it is to protect your assets. Whether you run a small delivery service or a large transportation company, you’ve invested significant time, energy, and money into your operation. As a result, it’s essential to safeguard your vehicles, employees, and customers by having commercial auto insurance. But how do you know when you need this essential coverage?

Below, we’ll discuss the different scenarios when commercial auto insurance is necessary and why it’s critical to your long-term success.

When You Use a Vehicle for Business Purposes

If you use a vehicle for business purposes – whether it’s transporting goods, commuting to meetings, or picking up products – you should have commercial auto insurance. This coverage will protect you against any accidents, theft, or damage that may occur while using your car for work purposes. Even if you use your personal car for business purposes, you need commercial auto insurance. Without it, you risk failing to protect your business against potential losses.

When You Transport People

If your business transports people – whether it’s a taxi, limo, or bus service – you need commercial auto insurance. This coverage protects you from liability if one of your passengers gets into an accident and suffers injuries. Additionally, you must have coverage for any passengers’ medical expenses, lost wages, and other related costs.

When You Deliver Goods or Services

If your business delivers goods or services, you need to have commercial auto insurance. This coverage protects you from liability if one of your delivery drivers gets into an accident while on the job. Additionally, commercial auto insurance covers theft, vandalism, or damage to your delivery vehicles. Without this coverage, you risk losing your entire operation if a vehicle gets stolen or damaged beyond repair.

When You Lease or Own Commercial Vehicles

If you lease or own commercial vehicles, you need commercial auto insurance. This coverage protects you from losses if a vehicle gets stolen, damaged, or involved in an accident. Without commercial auto insurance, you risk losing your investment in these vehicles and the significant financial impact that comes with it.

When Your Employees Use Your Vehicles

If your employees use your vehicles for business purposes, you need commercial auto insurance. This coverage protects you from losses if your employees get into an accident while on the job. Additionally, commercial auto insurance covers any injuries, damages, or legal expenses resulting from the accident.

When You Need to Comply with State Laws

Each state has a different minimum requirement for commercial auto insurance. Failure to meet these requirements can result in fines, penalties, or legal action against your business. For example, if you operate a tow truck business in Florida, you must carry liability insurance with a minimum of $50,000 per accident. Other states may require higher liability limits or additional coverage based on the type of business you operate.

When You Want True Peace of Mind

Regardless of whether you are legally required to have commercial auto insurance, it provides true peace of mind for business owners. Accidents, theft, and damage can happen at any time, and you must take steps to protect your business from the consequences. With commercial auto insurance, you can rest assured that your business and its assets are protected, even in the worst-case scenarios.

Conclusion

Commercial auto insurance is essential for any business that operates vehicles for work purposes. Whether you’re a small business owner or a large corporation, having this coverage can mitigate the financial impact of accidents, theft, or damage to your vehicles. Additionally, commercial auto insurance protects your employees, customers, and other parties from suffering financial losses resulting from accidents or injuries. Regardless of whether you’re legally required to have commercial auto insurance, it’s always a good idea to have this coverage for the peace of mind it provides.

Why A.N Nunes Agency?

Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value.

With other agencies, you get one company that sells one brand of insurance. With a trusted choice independent insurance agency like A.N. Nunes Agency, you get choices.

Why? Because independent insurance agencies represent a number of different insurance companies and can compare coverage and prices to find the best possible value for your individual circumstances. As independent agents, we are members of the Rhode Island and Massachusetts communities, and we’re committed to doing business face-to-face and being your advocate in times of need.

Primarily serving the East Bay community in both RI and MA, here are a few reasons why A.N. Nunes Agency should be your first and last stop when looking for insurance.

We work for you when you have a claim.
We are not beholden to any one company. This means you don’t have to change agencies as your insurance and service needs change.
We are your consultants, working with you as you determine your needs.
We are value-hunters who look after your pocketbook in finding the best combination of price, coverage, and service.
We offer one-stop shopping for a full range of products, including home, renters, auto, business, life, health, and retirement plans.
We can periodically review your coverage to keep up with your changing insurance needs.
We are committed to customer satisfaction – it’s the key to our livelihood.
We treat you like a person, not a number.
We are licensed professionals with strong customer and community ties.

There is a difference. To find out how our independent insurance agency can help you find the right insurance coverage, please contact one of our agents today. Give us a call at 401-253-5300