Business - Commercial Auto and Truck Insurance
When it comes to insuring your business vehicles, what kind of policy do you need? That depends on how you use those vehicles.
There several types of policies to insure your business’s cars and trucks: business policies, commercial policies and fleet policies.
If your vehicle is driven to conduct business – as a salesperson, home healthcare provider or realtor, for example – you likely need a business policy.
If your vehicle is used to transport people or goods from one location to another – for example, a contractor who moves tools and equipment among jobsites – you will need a commercial policy.
If you own several business vehicles, you may benefit from a fleet policy. A fleet policy covers all of your vehicles and drivers in a single policy. A small-fleet policy is generally best suited for small- and mid-size businesses, such as a florist that uses both company cars and a van to make local deliveries. Companies that own a large number of vehicles – such as a taxi company or large delivery service – would need a large-fleet policy.
Whether you purchase a business, commercial or fleet policy, the basic coverages are similar to those included in your personal auto policy and include liability to cover bodily injury and property damage claims and optional collision and comprehensive to cover physical damage to your vehicle.
There are many factors that determine the costs and coverages in a business or commercial vehicle policy, including the vehicles’ exposure to risk.
If you’re unclear about the different types of vehicle policies and what you need to keep your business safe, please contact us. The business insurance experts at Fox Agencies will be glad to help.