COMMERCIAL AUTO Insurance
Commerical auto insurance is something that every business needs if they have cars on the road. This insurance is special in that it covers the business if one of the drivers happens to get into an accident with someone else, and the company driver is at fault. The other party will most definitely file an insurance claim, and the business will be liable to pay many of that person’s expenses.
Some of the expenses that commercial coverage will take care of are expenses such as medical bills that he the other party has to pay because of the accident. The policy will also cover automobile repairs. Towing costs are also sometimes included in the expenses that commercial auto insurance will cover. Furthermore, the policy may also cover rental transportation if the other person has to rent another vehicle because of the incident. The policy could cover lost work wages if the accident was severe enough to put the other party at work.
Any company that has drivers who transport people, hazardous materials or anything that needs to be delivered should cover the commercial insurance. It’s better to have a policy than to have none at all.
No business should operate without commercial auto insurance. It’s a smart investment and sometimes a required investment for the company to have commercial coverage instead of regular auto insurance coverage.
Commerical coverage works just like any other coverage when it comes to the process of filing claims and such. The company pays a premium every month to have the coverage. If an incident occurs, someone will have to contact the insurance company and report it. The insurance company will then investigate the occurrence and decide what to do in terms of paying for the damages or refusing to do so. If the insurance company decides to honor the claim, it will send a check to the appropriate parties to pay for the necessary expenses. The business will continue to pay the premium after that. Some adjustments may be made to the premium because of the incident, but that may or may not occur.