Tag: commercial auto insurance

  1. Home
  2. Tag: commercial auto insurance
Sep10

What You Need To Know About Commercial Auto Insurance

Posted by in General Articles · No Comments

Commercial Auto Insurance Basics

If you own a small business, you may find yourself using your personal vehicle for business purposes, no matter if it is picking up a client or dropping off products. While it may not seem like a big deal, it can lead to a huge headache if you ever have to make a claim to your auto insurance company.

Typical personal auto insurance policies will not provide any coverage during an accident when you are using your vehicle for business purposes. The only way to make sure that you, and any employees who use their personal vehicle for business uses, are covered during an accident or another peril is to invest in a commercial auto insurance policy. If you try to make a claim to your personal car insurance company when using your car for business purposes, the claim will most likely be denied, which can lead to a huge dent in your savings account.

Commercial auto insurance policies provide three main coverage options, including:

  • Physical damage coverage, which will provide comprehensive and collision coverage.
  • Liability coverage, which will provide property damage, bodily injury, and uninsured and underinsured motorist coverage.
  • Other coverage, which can include towing and labor, medical payments, gap insurance, and rental reimbursement depending on your specific policy.

There are many questions to consider when looking for the right commercial auto insurance policy that will work best for your company, including:

  • Where is my business located?
  • What are the driving records of all of my employees like?
  • What type of vehicles am I insuring, and what safety equipment do they include?

Contact the insurance professionals at Bisson Insurance Services in Yorba Linda, California for all of your commercial auto insurance needs. As an independent insurance company, we will work with you to ensure that you have the coverage that you deserve, all at the right price.

Aug28

Choosing The Right Commercial Auto Insurance Coverage

Posted by in General Articles · No Comments

Commercial Auto Insurance Endorsements

If you have any number of company cars, you need a commercial auto insurance policy to keep you and your employees safe. While a standard commercial auto insurance policy may be able to give you the coverage that you need, adding endorsements to your policy can help to better protect you. Consider these endorsements when choosing your policy to ensure that you are protected from any peril.

  • Rental reimbursement – which will cover the cost of a rental vehicle if one of your company cars needs to be repaired after a covered loss. It is important to keep in mind that this endorsement is a reimbursement coverage, meaning your company will have to cover the cost of the rental up front, and then you will be reimbursed for the cost. Rental reimbursement coverage has a maximum amount of coverage that it will provide for the number of days, the maximum amount of cost overall, as well as the maximum amount of cost per day.
  • Auto loan/lease gap – which will change that amount paid under the physical damage portion of your commercial auto insurance policy to include the difference between the remaining amount of the loan or lease and the actual cash value of your vehicle. It is meant to help any insureds who are “upside down” on their lease or loan after a loss.
  • Employees as insureds – which helps to change the definition of “who is an insured” on the policy to include any employee who is using the vehicle as the “you.” This endorsement will extend the insured status to the employee if they are using their own personal vehicle for company business.

For all of your business insurance needs, and to ensure that you and your employees are properly protected, contact Bisson Insurance Services in Yorba Linda, California.