All sorts of businesses use vehicles in the regular course of their work. You must insure that car, but you can’t simply use a standard personal auto policy. Instead, commercial auto insurance is likely the route to take. It will protect the business’s specific interest in vehicles and drivers operating on its behalf.
Some of the coverage in these policies might include:
- Liability insurance: Your state will often require all drivers to carry this coverage. If a policyholder is at-fault for an accident, coverage can compensate third parties for their injuries, property damage or other settlements.
- Collision coverage: This policy pays for damage to your own vehicle after an accident.
- Comprehensive insurance: Coverage pays for damage to your vehicle after non-accident damage. Covered incidents might include vehicle fires, theft, vandalism and weather damage.
- Uninsured/underinsured protection: If another driver causes damage to you, they might not have adequate liability insurance. This coverage can pay the costs that person might owe you.
- Medical coverage: If you get hurt, this coverage can pay for your medical costs.
Depending on the type of business and vehicles you operate, you might need other coverage, like inland marine, cargo or trailer protection. Keep in mind, you’ll likely have to carry a policy on not only vehicles owned by the business, but also personal vehicles you use for business purposes.
If employees get hurt or injured on the job, they usually have a right to workers’ comp. Coverage can supplement income the affected parties might lose because of an unexpected accident. It might help the affected party get help with medical and other costs.
In Texas, businesses do not have a requirement to carry workers’ compensation insurance However, employees have a right to claim workers’ compensation even if the business had no negligence in the injury. So, even though you might not have a policy, an employee still has the right to sue a business for compensation. Therefore, coverage is highly recommended.
Here When You Need Us
No two businesses are the same. Therefore, you have to get commercial insurance that is tailored to your most-pressing interests. At La Familia Auto Insurance, we have a commitment to help you sift through the multiple policy options out there to determine the best fit for you.