When your business depends on trucks, vans, and other commercial vehicles, you know how important it is to keep those vehicles in good repair and protect them against damage. The same applies to your commercial vehicle insurance, which is essential to safeguard your business against financial loss. If you have questions about insuring commercial vehicles, Muller Insurance covers everything you need to know here.
What Is Commercial Vehicle Insurance?
Like personal insurance, commercial insurance covers the costs of damage and liabilities caused by vehicle accidents and malfunctions. The biggest difference is that commercial vehicle insurance typically exceeds the coverage limits and areas of personal policies. This is because a commercial policy covers not just the vehicle itself, but also the employees operating it and other factors.
If you maintain a smaller fleet or even a single van, you may wonder why your personal auto insurance can’t cover these vehicles. Keep in mind that commercial policies are written differently to accommodate the unique needs of businesses, and they include a number of coverage options that won’t be found in the average personal car insurance policy. In fact, if your commercial vehicle is improperly covered by a personal policy, you likely will not be eligible for coverage in the event of an accident or other damage.
Types of Vehicles Covered
Businesses large and small make use of a wide range of vehicles to keep operations running smoothly. That’s why most commercial vehicle insurance policies cover a range of vehicles just as wide. Covered vehicles include:
- Cars
- Vans
- Pickup trucks
- Box trucks
- Service utility trucks
- Food trucks
Don’t see the vehicles you use covered here? A Muller Insurance representative can help determine whether your vehicles are eligible for coverage.
What’s Covered?
As noted, commercial vehicle insurance offers more robust coverage to protect businesses, their fleets, and their employees. In general, your fleet’s coverage will include:
- Collision: Covers damage to your vehicle from another vehicle or object
- Liability: For property damage and injuries to other people caused by your vehicles and the employees driving them
- Underinsured motorists: Pays for damage and medical costs that you suffer from a motorist that has insufficient insurance or none at all
- Roadside assistance: Covers towing and repair services for vehicle breakdowns
You may also require additional policies to cover tools and other equipment transported in the vehicle, certain trailers, and drivers who are not employees or relatives that drive your vehicles on a semi-regular basis.
How Much Coverage Do You Need?
Every business is unique, which means that your policy may vary substantially from that of a larger or smaller company. Additionally, the industry you work in may demand specific coverage that is less relevant in other fields. This is another reason it’s so important to consult with an experienced insurance agent who understands your business and needs.
To determine how much insurance you require, your agent will review your file, get more information about your operations, and suggest the most appropriate level of coverage for your specific risk factors. Remember that if your coverage is insufficient, you could be doing serious damage to your bottom line when commercial vehicle accidents occur.
Get the Coverage You Need
If you’re ready to learn more about commercial vehicle insurance, contact Muller Insurance today. We offer a wide range of personal and commercial insurance policies, as well as premier customer service to provide the support and coverage you need. For more information or to receive a free quote, call 201-659-2403 to speak with a representative.
