Commercial Auto Insurance
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Commercial Auto Insurance Information
Commercial auto insurance helps provide financial protection if your business uses vehicles for everyday business purposes. Having appropriate commercial auto insurance is a crucial part of your company’s insurance plan.
Contact Choice One Network in Cutler Bay, Florida, to get a commercial auto policy tailored to meet your company’s needs.
What Is Commercial Car Insurance?
Commercial auto insurance is a contract with your insurer. In exchange for premium payments, they help pay the costs associated with a car accident or damage-causing incident according to the policy’s terms.
What Does Commercial Car Insurance Cover?
With proper commercial car insurance, your company can avoid some of the financial stress of a car accident. Depending on your company’s situation, your agent may recommend the following coverage:
How Commercial Car Insurance Works
- Liability insurance is required for Florida companies that use vehicles for business purposes. It helps cover third-party bodily injury liability and property damage liability.
- Collision insurance helps pay for your vehicle’s damages after colliding with another vehicle or object.
- Comprehensive insurance helps pay for non-accident-related damages, including fire, vandalism, weather damage or theft.
- Personal injury protection (PIP) is required in Florida. This coverage helps pay for medical bills up to the policy’s limits.
- Medical payments (MedPay) is optional in Florida. This coverage helps pay for several loss types, including medical bills resulting from the covered accident.
- Uninsured/Underinsured motorist insurance helps cover damage to your company vehicle if you are in an accident with a driver that doesn’t have appropriate insurance coverage.
- Umbrella insurance kicks in to help cover third-party property damage and bodily injuries when a liability claim exceeds the limits of your company’s other liability policies.
- Gap insurance may be required by your lienholder. This coverage helps cover the “gap” between the amount you owe on your company vehicle and the settlement from your insurance company after an accident that renders the vehicle a total loss.
Commercial car insurance can help pay for your company’s legal liability after an at-fault accident. Depending on the coverage you choose, your company’s auto insurance may also cover damage to a company vehicle after a covered accident.
A personal auto insurance policy won’t typically cover an accident that occurs while the driver is using the vehicle for business purposes. The company would need to purchase hired or non-owned auto insurance (HNOA) coverage to protect the vehicle’s owner and your business.
Who Needs Commercial Car Insurance?
Florida requires all businesses in the state to carry commercial auto liability coverage and personal injury protection (PIP).
If your business finances vehicles, your lienholder requires full coverage insurance that includes collision and comprehensive policies. They may also require gap coverage.
How to Get Commercial Car Insurance
Contact Choice One Network today to start building your ideal commercial auto insurance policy.