These days, many companies require reliable transportation to meet their business needs. From product delivery to client interaction, being able to satisfy your customers’ demands remains essential. However, when accidents happen or company vehicles are kept off the road, both short and long-term business relationships can be negatively affected.
That’s why it’s wise to secure adequate and comprehensive automobile insurance for your business fleet. Doing so keeps you covered no matter what happens. Here are some important ideas to keep in mind:
Assess Your Coverage Plans
When you secure a fleet of vehicles for your business, it’s best to increase property damage coverage. This protects your investment against damage or loss in the event of an incident, regardless of at-fault party.
Next, property damage and liability limits should be increased. Since it’s not possible to monitor every action employees make while on the road, this option provides you with protection and peace of mind.
It’s not necessary to tackle the sometimes-confusing topic of automobile insurance on your own. Instead, our friendly and knowledgeable professionals can help you determine the type and extent of coverage that’s right for you and your business needs.
Know the Options
As with other automobile policies, there are many options when it comes to fleet vehicle insurance. That includes collision protection (regardless of the at-fault party). Physical damage protection covers damages incurred by theft, vandalism, fire (or weather-related incidents), and more.
Uninsured motorist coverage protects your company in the event of a crash between a fleet vehicle and another automobile operated by someone without insurance. A medical payments protection plan handles all medical and funeral expenses for all drivers who are covered under the policy.
If you have personal automobile insurance, you’re likely already familiar with the concept of deductibles. The same idea applies to fleet insurance. Many business owners choose larger deductibles, especially when fleet vehicles are more than 10 years old.
Small business owners should approach deductibles with caution. In some cases, they can be up to 40 percent or more of your overall coverage. That stated it’s important not to play a guessing game. Instead, contact a skilled and qualified automobile insurance agent who can help you navigate the best options for your specific requirements.
Protect the Interior and Exterior
While not available as part of all policies, a roadside assistance add-on is beneficial to keep company vehicles rolling. Especially for those businesses that are time-specific (such as package delivery), having this safeguard in place can prevent major loss in funds.
It’s also wise to secure insurance protection for equipment and supplies transported in business vehicles. Most thieves won’t pick and choose specific items. They’ll simply take what they can and move on. That means even a single incident could add up to significant losses for the company.
Reach Out for Assistance
Even if your business doesn’t own any vehicles (and you don’t plan to purchase anytime soon), you can still benefit from non-owned and hired liability insurance coverage. This keeps you protected in a variety of scenarios. One example is if an employee is involved in a rental vehicle crash while on official business.
As mentioned, when you’re focused on the growth and success of your business, deciphering details of the insurance can be stressful and overwhelming. That’s why it’s important to partner with a trusted and reputable insurance firm that can help you secure comprehensive coverage to protect your business assets.
For more than 16 years, we’ve assisted business owners across Central Florida with a variety of innovative insurance solutions. From business and commercial to risk management, construction, automobile, and more, our agents are always glad to answer any questions or concerns you may have. Contact us today to get the peace of mind that your business is protected under all conditions.