Commercial Auto Insurance in Hollywood, FL
Your business’s vehicles represent significant investments that are integral to daily operations and essential tasks. However, owning and operating automobiles also incurs major risk levels, as even slight or isolated incidents could lead to expensive consequences. That’s why commercial auto insurance is an essential form of financial protection.
What Is Commercial Auto Coverage?
This type of insurance may go by several names, including commercial vehicle insurance, business auto insurance and fleet insurance. Regardless of label, the right coverage can establish a financial shield for your business that can assist with vehicle-related costs and losses that might otherwise need to be paid out of pocket. Your company’s policy establishes a contractual agreement with an insurance carrier. You’ll pay regular (e.g., monthly) premiums and, in exchange, retain the right to file a claim for financial assistance in response to accidents and other incidents involving your motor vehicles.
What Does a Commercial Auto Policy Cover?
Commercial auto insurance is often customizable and can be tailored to suit the needs of your business. However, many components may be valuable for most companies that regularly use vehicles. When assembling your coverage, consider the following features:
- Bodily injury liability coverage
- Property damage liability coverage
- Collision coverage
- Comprehensive coverage
- Hired and nonowned coverage
- Rental car coverage
- Medical payments coverage
- Uninsured and underinsured motorist coverage
Who Needs This Type of Insurance?
Generally, any organization that uses motor vehicles for business purposes should consider a commercial auto insurance policy a top priority. Even the most experienced and responsible drivers could have a lapse in attention or encounter unexpected circumstances, potentially incurring devastating consequences for an uninsured or underinsured business. Furthermore, commercial auto coverage is typically required by law in most states, meaning a noncompliant company could face significant fines and penalties.
Learn More
Contact First Choice Insurance Solutions Inc. today for a tailored quote for the right coverage.