Commercial Auto/Fleet Insurance—Mapping Out Coverage

Commercial transportation companies have higher liability issues and coverage needs than an individual driver. Regular auto insurance just isn’t enough to protect against loss.

If your vehicles are used for business, you need the peace of mind that comes with Commercial Auto Insurance. What’s more, if you have more than three vehicles on the road (i.e., a fleet) your needs are best served by Commercial Fleet Insurance. Our team at Thomas Ward Insurance Group knows the insurance needs of commercial transportation companies. We can map out coverage for you.

Driving Your Business—How Fleet Insurance Helps You

If you use your vehicle for work (other than commuting) whether it’s a semi, pickup, car or van—you need commercial auto insurance. While the types of commercial auto insurance are not dramatically different than regular Auto Insurance, the amount of insurance you must carry may well be greater.

For example, there may be liability insurance requirements mandated by your state. Additionally, if you have a lien holder on your vehicle, you will be required to carry comprehensive and collision insurance.

Since your vehicle is being driven for commercial purposes, it’s wise to consider some additional coverages as well. After all, if your vehicle is out of commission, that means you are out of work:

  • Uninsured/underinsured motorist: This will cover you in the event you have an accident with another driver who does not have adequate or any coverage.

  • Emergency roadside assistance: Being stranded on the side of the road will cut into your business’s profitability. It’s best to make sure you can get back on the road again asap.

  • Personal effects insurance: This provides coverage for personal belongings located inside the vehicle in the event of theft.

  • Personal injury protection (PIP): After an accident, PIP goes beyond medical coverage to assist you with such things as lost wages.

All Together Now—Fleet Coverage for Multiple Vehicles

Transport companies, rental car agencies, and even small businesses like caterers with more than three delivery vans have what is considered a fleet. When your vehicles are used for commercial purposes, commercial fleet insurance makes the best business sense because you’re buying in bulk. This often results in discounted premiums, easier policy management, and more flexibility when it comes to coverage for an assortment of vehicles and a variety of drivers.

When working with your insurance broker to customize your fleet coverage, be sure to ask about the following:

  • Physical damage coverage against collision, vandalism, falling objects, and more.

  • Liability coverage protecting your business from liability should an employee be involved in a crash.

  • Product coverage to cover the cost of products or merchandise you may be transporting.

  • Roadside assistance because time is money in transport and you don’t want one of your fleet stranded on the side of the road.

Take Control of the Wheel…And Your Business—Call for a Quote

When it comes to making sure your commercial vehicles are protected, it’s critical that you take the wheel and make sure your business assets are secure. Our licensed insurance professionals at Thomas Ward Insurance Group will help you find your way. Call 312.254.1500 today to get a quote or contact us learn more.