Why Commercial Auto Insurance Is Necessary for Your Business
Securing proper commercial auto insurance is an absolute must if vehicles are used in your day-to-day commercial operations. Failing to stay insured often means leaving your business vulnerable to all kinds of potential losses and liabilities.
No matter what industry you work in, chances are fairly high that your daily operations depend on the use of automobiles in some capacity. You never know what can happen when you have vehicles on the road.
In fact, automobiles are one of the most significant exposures to loss that a company can face. If one of your vehicles is ever in an accident that causes damage to property, it could result in thousands of dollars of repair bills and much higher if the accident results in injuries. Even if you have the money to spend, why would you want to use it on repair bills when it is possible to protect your business’ bottom line with the right insurance policy?
Although you can hope for the best, it is always wise to prepare for the worst. That is exactly what a commercial auto insurance policy is for. Whether you have just a few delivery trucks, a fleet of private transportation vehicles, or a garage operation, a commercial auto insurance plan can be built to cater to your business’ individual needs.
It is important to understand that exposures to loss that arise when automobiles are used for business purposes differ greatly from those protected by personal automobile insurance. This is why it is essential to have a separate insurance policy that covers your business and it’s vehicles.
If you are on the fence about whether you require commercial auto insurance, consider how vehicles play a role in your business’ day-to-day operations. It is important to ask yourself these questions:
- Do you use private passenger vehicles for commercial purposes?
- Do your employees use their own vehicles to perform work tasks?
- Do you use any hired or leased automobiles?
- Do you haul loads or deliver products?
These are just a few of the many commercial automobile operations that expose your business to potential risks. Even if vehicles are only being used commercially in minimal ways (like the transportation of tools to a job site), it is still crucial to have an insurance policy that has you covered in the event of a loss. Commercial fleet insurance will provide coverage for you so you can have peace of mind when it comes to your business.
What Factors Affect Commercial Vehicle Insurance Premiums
At James Campbell Insurance Brokers, we believe that each and every client is unique and must be treated as such. Therefore, our brokers take the time and effort to learn the ins and outs of how your business operates. That way, we can better help you decide on the right insurance plans for your specific needs.
We want all of our clients to know they have options when it comes to their insurance policies, what they cover, and how they can benefit their business in various ways.
There are several important factors that help determine your premium. These considerations include but are not limited to; the weight of your commercial vehicles, employees’ experience driving similar vehicles as well as their insurance history, the type and radius of your operations, and your business’ loss history.
If your business has just a few commercial vehicles needing coverage, the best approach is to write policies on a scheduled basis. These policies are tied to each individual automobile. In such cases, each vehicle is individually rated, and all drivers are rated separately.
However, if you have four or more commercial vehicles in use, it can be considered a fleet and should be handled as such. In most cases, fleets of vehicles may be covered under a single policy. If you have a larger fleet, it may even qualify for a blanket Fleet endorsement, also known as a 21B.
Why James Campbell Insurance Is the best Option for Commercial Auto Insurance
At James Campbell Insurance, we are committed to our clients. We always make their needs and concerns our top priority. Our team of expert insurance brokers does what is necessary to provide you and your business with commercial auto insurance policies that fit your exact needs and that meet your expectations.
James Campbell Insurance also offers solutions that suit businesses of all sizes. Whether you have a limited number of automobiles or fleets of vehicles in constant use, we have a variety of commercial auto policies that will match the finer nuances of your business.
Our ultimate goal is to ensure that your insurance needs are taken care of. We understand the importance of vehicles to your business. We want to ensure they are protected by helping you to manage your business’ vehicle liability and risk exposure effectively.
Our goal is to help you stop worrying about the risk of potential financial loss so that you can direct all of your attention back to your day-to-day operations. When it comes to risk management, we have you covered.
For more information about the commercial vehicle auto insurance policies that we offer, or to get a quote on a policy for your business, call James Campbell Insurance at 1-833-459-1065 or contact us here.