Look at any insurance policy and you will notice that there are different levels of coverage offered for different costs. This is certainly true for commercial auto insurance. Depending on how reliant you are upon your vehicles for your business, you will want to look carefully at what each coverage level offers you. Picking the most coverage might not be the most cost-effective for your business so it is important that you know what you are looking at.
Bodily Injury and Property Damage
This is a very important business auto insurance clause to have if you spend a lot of time visiting clients’ homes. Even the world’s best drivers have off days and you never know when you might accidentally hit a client’s outbuilding or even a pet or child.
Such an unfortunate event might result in a bill and a claim for compensation heading your way. Insurance can help to pay for these bills. Different levels of coverage will have different levels of limit. For example, a basic policy may only offer $50,000 worth of coverage whereas a more comprehensive policy will cover more.
Uninsured Damage
You might be properly insured and completely above the bar but that doesn’t mean that everyone else is. If you are involved with a collision with an uninsured driver, you won’t be able to claim for repairs bills and any potential medical bills you might have in the same way you would if there was another insurance company to claim from.
Rather than be left out of pocket, uninsured damage cover allows you to be able to cover any costs you might have. As with the bodily image and property damage clause mention above, different levels of coverage will have different levels of payout. The more coverage you get, the more you will be able to claim in the event of an incident.
Comprehensive Cover
There are many things which can happen to a vehicle regardless of the issues listed above. You might have an accident with another car and total it, you might require a tow-truck to come and rescue you if the vehicle overheats, and many other incidents. You might want some form of coverage to help you overcome this.
Most policies are structured so you have to pay a certain amount (a few hundred dollars) and then the cash value of the bill is then reimbursed to you. It is an extremely useful policy to have.
You always need to make sure that you have the right level of coverage for you and your business. Shop around and take a look at some of the different policies available to you. If you spend a lot of time out on the road for your business then you might want a slightly higher level of coverage than some.
All you need to do is decide which level of coverage is right for you. After all, what you need might be very different from what your competitors need. Take your time until you have found the perfect policy for your business.
