Business Auto
What is Business Auto Insurance?
Business Auto Insurance, also known as commercial auto insurance, is a type of policy that provides coverage for vehicles used in business operations. This insurance protects against financial losses resulting from accidents, property damage, theft, or liability claims involving company-owned or employee-driven vehicles.
Business Auto policies can be tailored to the unique needs of different businesses. For example, a delivery company may need coverage for a fleet of vans, while a contractor may require protection for trucks and trailers used on job sites.
The most common types of coverage included in Business Auto Insurance are:
Liability coverage: Protects businesses from financial responsibility if their vehicle causes bodily injury or property damage to others.
Collision coverage: Pays for repairs or replacement of a business vehicle after an accident, regardless of fault.
Comprehensive coverage: Covers non-collision-related damages such as theft, vandalism, fire, or weather events.
Uninsured/underinsured motorist coverage: Provides protection if the business vehicle is involved in an accident with a driver who has insufficient or no insurance.
Medical payments coverage: Assists with medical expenses for the driver and passengers injured in a business-related vehicle accident.
Hired and non-owned auto coverage: Extends protection to vehicles not owned by the business but used for business purposes, such as rentals or employee-owned cars.
The cost of Business Auto Insurance depends on factors such as the type of vehicles, number of drivers, driving history, industry risks, and coverage limits selected. Working with an experienced insurance professional helps businesses choose the right protection for their operations.
In summary, Business Auto Insurance is crucial for companies that rely on vehicles. It provides financial protection from accidents and liability claims, ensuring business operations continue smoothly. By customizing coverage to their needs, business owners can safeguard their assets and reduce risks.
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faqs
Frequently Asked Questions
Please contact us if you cannot find an answer to your question.
What is a deductible?
A deductible is an amount that you're responsible for in the event of a loss. This is the amount you pay out-of-pocket, and insurance covers the remainder.
How can I make sure that I have coverage for my valuables?
When speaking with your agent to set up your policy, any valuables (jewelry, art, family collectibles), our agent can review your policy and recommend changes to ensure your valuables have proper coverage.
Do I need to get a new appraisal to renew or change my coverage?
No. You do not need a new home appraisal during the renewal or coverage change process.
Can I keep my carrier?
Yes, In most cases you can keep your carrier, but have The Bedford Group Inc. manage your policy. This is done by transferring you policy.
