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What Benefits and Protections Does Commercial Auto Insurance Provide?

If your business or company relies on the use of vehicles to accomplish your business goals, commercial auto insurance is a wise investment. Unlike personal auto insurance, commercial auto insurance provides security and protection from many uncovered liabilities. We all know that even the best-laid plans can go awry, and accidents can happen when you least expect it. It’s a good idea to have protection in place to come to your aid when a wide variety of circumstances take place. IRM insurance of Knoxville, TN is committed to helping businesses attain the coverage they need to protect themselves from the unknown. Commercial auto insurance provides peace of mind to business owners in that they can rest assured that unexpected events will be covered and will provide adequate protection for their business and employees. 

What is Commercial Auto Insurance?

No two businesses are exactly alike. As a result, commercial auto insurance provides many primary benefits to any company that owns vehicles that are operated by its employees. However, this type of insurance can be structured to suit the specific needs of a company. In general, commercial auto insurance provides financial protection when it comes to liability. This includes personal injury, collisions, and uninsured motorists to list a few. However, it goes a step further by providing higher policy limits than personal auto insurance. 

What is Covered?

Commercial auto insurance provides coverage for accidents involving company vehicles, as well as personal vehicles, when driven for business. This insurance also covers car theft, damage to cars under some circumstances, and vandalism. 

The damages covered by commercial auto insurance include damage to company vehicles as well as any damage done to other vehicles caused by an employee in a company vehicle or a personal vehicle driven for business purposes. This insurance also covers bodily injuries to others caused by an employee in a company-owned vehicle or personal vehicle driven for business purposes. 

Other Protections

Commercial auto insurance can also cover the legal costs incurred by the damage you or an employee may cause by your vehicle or a company vehicle and be sued for. This falls under auto liability coverage. 

Who Should Invest in Commercial Auto Insurance?

This is a question that involves focusing on the type of vehicles your company utilizes, as well as what they’re used for. If your company or business is heavily dependent on the use of a vehicle to achieve your duties and must rely on them to fulfill contracts., commercial auto insurance is a good investment. Of course, it is wise to consider other unique factors about your business that might make commercial auto insurance a wise investment. The primary understanding that you should garner about commercial auto insurance is that it protects your business and its employees from exposure to uncovered liabilities that could come from a serious accident.

Call us today or schedule to visit our office in Knoxville, TN. We want to make sure that your business has the coverage it needs to protect you.