Good business owners understand that certain types of insurance protection are needed to address various aspects of their business:
- General Liability: Covers slips and falls in the office and field
- Property: Protects the building and its contents from certain types of damage, including fire and water
- Workers Compensation: Covers injuries to employees while on the job
- Professional Liability: Protects the company from claims due to errors and omissions in deliverables
One type of coverage that you may have not considered is commercial auto insurance. This type of protection may seem like a no-brainer for companies whose workers operate company vehicles for business which may not apply to your situation. Here’s why you should reconsider.
Understanding the Need for Commercial Auto Coverage
Any company wherein employees are expected to drive for business purposes should have a commercial auto policy, even if there are no company vehicles. If an employee causes an auto accident while on company business, you could be held liable for resultant damages and injuries. It doesn’t matter where the vehicles in question are employee-owned, company-owned, or leased/rented. Relying on individual liability policies to cover your bases is a bad idea.
Getting the Right Commercial Auto Policy
As with any type of insurance, it’s important to make sure you have a policy that serves your company’s special needs. Consequently, you need to make sure you’re getting coverage from an insurer that specializes in commercial auto policies and can provide one that is customized to your operations.