Protecting your business on the road shouldn’t be taken lightly. Commercial auto
insurance provides additional coverage that may be eliminated from your personal auto
insurance policy. Businesses choose commercial auto insurance because it offers
comprehensive protection and peace of mind in the event you’re faced with uncovered
liabilities from a major accident.
What is commercial auto insurance?
Protecting your business vehicles is essential, and commercial vehicle insurance can
provide the coverage you need. From company cars to a range of trucks and other
corporate transportation, this type of policy offers physical damage protection as well as
liability coverages that go beyond what personal auto policies include.
How do I know if I need commercial auto insurance?
Commercial auto insurance serves to protect both the financial interest of the business
and its employees. If employees drive a company-owned vehicle for business
operations, it is important to know that personal automobile insurance policies do not
usually cover vehicles used in business operations. Commercial auto insurance is
designed to protect businesses against liabilities.
Businesses should consider commercial auto insurance if:
– They are paid to transport goods or people.
– They use their vehicle to offer a service.
– Their vehicle requires higher limits of liability.
– They haul tools or equipment using a trailer.
– The vehicle is in the name of the business and driven by employees.
What is covered by commercial vehicle insurance?
Commercial auto insurance safeguards your business’ vehicles and the people in them
by covering liability damages, physical damage and loss due to collision, and medical
expenses – even if accidents occur with a vehicle that is uninsured or underinsured.
With a commercial auto policy, you can ensure that the business’ vehicles stay safe and
covered regardless of if they are owned, leased, or hired cars. These policies also offer
liability protection in the event of any bodily injury or property damages caused by their
operation.
Who is covered to drive my commercial vehicle?
With a commercial auto policy, you can ensure that anyone driving for the company –
including employees, family members, or other authorized individuals – will be covered in
case of an unexpected incident on the road. Be sure to add any drivers who use
vehicles regularly so they are fully protected!
What type of vehicles does a commercial auto insurance policy cover?
Commercial auto insurance is often associated with larger vehicles like box trucks, food
trucks, work vans, and service utility trucks. However, regular vehicles – cars and trucks
– may require commercial auto insurance when they are used for business purposes.
Is commercial auto insurance tax deductible?
Those who use their vehicle for business purposes may be able to capitalize on tax
deductions with commercial auto insurance. Self-employed individuals can often deduct
premiums from Schedule C, while employees may take advantage of Form 2106. For
more details on claiming a deduction, it is recommended that you consult the IRS or an
experienced accounting professional.
How do I purchase commercial auto insurance?
The insurance agents at Newman Tucker are qualified advisors who can help your
business assess if it would benefit from commercial auto insurance. They will discuss
how your vehicles are used, determine what business operations depend on vehicle
use, and help you identify the right coverage for your business.
Some of the factors that the agent will discuss with you include your business size,
number, and types of vehicles, current insurance, driving risk, and the cost of the
vehicle. These factors will help your agent determine the right amount of coverage for
your business.
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At Newman & Tucker Insurance, our mission is to save you time, money, and hassle by providing you with the most reputable, trusted, and highly reviewed insurance coverage available.
Using our resources, we compare prices between the nation’s top-rated insurance companies, offering you competitive, and affordable insurance solutions.
Give us a call at 859-441-2886 today, and we’ll make sure you have a quick, easy, and worthwhile experience.
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