Your Commercial Insurance Questions Answered

Your Commercial Insurance Questions Answered

Whether you’re new or established in the business world, there’s a lot of questions surrounding commercial insurance. This type of insurance differs from personal auto insurance plans in a few different ways, and it can confuse somehow to determine if you need one or the other. Even for those who know they’re in need of commercial insurance, there are many questions to be asked about actually making use of that policy.

 

Having these questions answered allows you to make better use of your commercial insurance policy, and it clears up any confusion that might be surrounding your coverage as a whole.

 

Answering Your Questions

 

The best way to have your questions answered is to lay out some of the most common questions surrounding commercial insurance. Some common questions answered are:

 

  • What is commercial insurance exactly? – Commercial insurance is a type of policy used to provide protection for any vehicle designated for business use or as a business property. Even if you use a personal vehicle for business use, your personal insurance policy may not cover any damages that occur while using your vehicle for business purposes, making commercial insurance necessary.

 

  • What does my policy cover? – It’s important to note that some policies may differ in different ways, but a commercial policy will typically cover some basic points. Some basic coverage points are: property damage liability, liability for bodily injury to others, personal injury, uninsured motorist coverage, loading and unloading liability, towing and labor costs, medical payment coverage, and more.

 

  • Do I really need commercial coverage? – You need commercial coverage for any vehicle that your company or employees use for business purposes. If you use a vehicle to carry equipment, transport hazardous material, transport housekeeping equipment for a business, tow other vehicles, deliver newspapers or mail, deliver food goods, or transport others professionally, you do need commercial coverage.

 

  • How do I get commercial insurance? – The first step to getting commercial insurance is talking with your insurance agent. They will be able to determine your need for commercial insurance, they’ll set you up with the policy you need for your ideal coverage, and they’ll teach you how to use your coverage when you really need it.

 

  • What is the cost of commercial insurance? – The cost of commercial insurance can vary, and it really depends on your policy and your business vehicle. A passenger vehicle used for a chauffer service will cost less to insure than a large truck that transports hazardous materials Those with driving records will also cost more to insure compared to drivers with a clean driving record.

 

Covering All Of Your Commercial Fleet

 

Whether you have a fleet of trucks, a few towing vehicles, or a passenger vehicle you use to take you to and from cleaning jobs, you need commercial insurance to keep you protected. If you’d like to learn more about covering your vehicles with commercial insurance, contact us at Panorama today.

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