Commercial auto insurance is designed to protect businesses of all sizes from litigation related to automotive incidents. Whether the incident is an auto collision, an unloading accident, or a new work truck stolen from the parking lot, commercial auto insurance is there to help pick up the pieces. But why do small businesses, in particular, need commercial auto insurance?
Small businesses have a ton of expenses. Employing workers with fair wages, excellent benefits, and stability is expensive. But making sure that your workers and equipment are protected financially and medically is a no-brainer.
Commercial auto coverage is an affordable monthly expense that ensures your business is covered in the event that you’re sued by an uninsured motorist or jaywalking citizen. It helps ensure that your business can keep showing up at a job site after a vandal breaks an expensive piece of covered equipment. And it helps ensure that your employees’ medical expenses are taken care of after a work truck is T-boned crossing an intersection.
While nobody wants to experience any of these incidents, the truth is that the future can be unpredictable. Even the most careful among us get into an accident every now and then. But protecting the business by minimizing the risk with a commercial auto insurance policy is an affordable and cost-effective way to keep employees at work, vehicles on the job, and jobs on schedule.
How to Determine Whether You Need Commercial Auto Insurance
If you’re not sure whether or not a small business needs commercial auto insurance, there are two simple questions you can ask:
- Am I using the vehicle for business purposes?
- Could the business be held liable in the event of a collision?
If you answered “yes” to either of these questions, then the business definitely needs to invest in commercial auto coverage to protect the business, equipment, and all involved persons.