Commercial auto insurance is something businesses purchase to cover their vehicles and the people who drive them. Commercial auto insurance policies in Margate will typically provide physical damage and liability coverages for the insured. These policies cover cars, trucks and any type of commercial vehicle that is necessary for you to run your business. Whether it be a small business or a company with a large fleet, commercial auto insurance policies cover a wide range of business types to ensure that your needs are covered no matter what.
There are a variety of businesses that would benefit from having a commercial auto insurance policy in Margate, but it starts with businesses that have vehicles that require a commercial auto insurance policy. Food trucks, box trucks, utility vehicles and commercial vans are a few examples of vehicles that require a commercial auto insurance policy due to their inability to be covered under a personal auto policy.
When it comes to what commercial auto insurance policies cover, it’s a lot of the same coverage as personal insurance policies however there are usually differences in eligibility, definitions, coverages, exclusions and limits. Examples of different types of coverage are as follows:
Bodily Injury Liability coverage – Coverage for any bodily injury or death to another person resulting from an accident in which you are at fault.
Property Damage Liability coverage – This is the protection you have to protect yourself if your vehicle accidentally damages another person’s property of any kind. This coverage will also provide you with legal defense in most cases.
Combined Single Limit (CSL) – Since most liability policies usually offer separate limits for bodily injury and property damage, this is sometimes an option where both of those are covered under one single limit. The same dollar amount for coverage would be offered whether the claim is for bodily injury or property damage and whether it is dealing with one person or several.
Medical Payments – This typically would cover the medical expenses of the driver and passengers of the vehicle for bills incurred as a result of a covered accident, regardless of fault.
Uninsured Motorist Coverage – pays for your injuries and, in some circumstances, certain property damage caused by an uninsured or a hit-and-run driver. In some cases, underinsured motorist coverage is also included. This is for cases in which the at-fault driver has insufficient insurance.
Comprehensive Physical Damage Coverage – pays for damage to your vehicle from theft, vandalism, flood, fire, and other covered perils.
Collision Coverage – pays for damage to your vehicle when it hits or is hit by another object.
As it pertains to vehicles that can be covered under a commercial auto policy in Margate, the list is understandably longer than that of a personal auto policy. As previously mentioned, specialty vehicles needed in the day to day operation of a business like food trucks, box trucks and specialized utility vehicles can and actually need to be insured by a commercial policy because they are not leisure vehicles. With that being said, it’s understood that regular passenger vehicles can also be utilized by businesses so those vehicles can be insured here as well. The broad spectrum of what can be covered under a commercial auto insurance policy in Margate are what make these policies so beneficial for businesses.
Not all companies offer commercial policies but here at Advantage Plus Insurance, we have partnered with Progressive, Kemper Auto, Mercury, and Bristol West to provide you with a quality product and even better customer service so you know your business is in good hands at all times. They all offer competitive rates and in-depth coverage options so you can be at ease knowing that whatever potential event may occur in the future, they’ve got your back.
For more information about your specific situation and if a commercial policy is right for you, please give us a call at (954) 289-4020.