Do You Need Commercial Vehicle Insurance?
Although commercial vehicle insurance is technically auto insurance, it’s labeled as business insurance since businesses use it when they transport people, products, etc. to locations outside their own facility. This valuable coverage is required by law and must be carried at all times to reduce the risk you’ll endure devastating financial turmoil after an accident. It is a crime to operate a commercial vehicle at your business without insurance in place. Don’t forget expensive fines are also a part of operating commercial vehicles without the appropriate insurance.
Who Needs Commercial Vehicle Insurance?
Any business that uses commercial vehicles needs this insurance coverage in place at all times. It doesn’t matter what industry you serve, the number of employees on the team, or the length of time your company has been around. You must purchase a policy through a licensed agent in the state. Make sure to understand the commercial coverage policies as well as the amount of coverage needed to maintain your vehicle’s safety.
How Much Does Insurance Cost?
Costs to insure your commercial vehicles is based upon many factors, including the number of vehicles that need coverage, the size of your business, prior driving record, credit score, and other important information. The best way to get low cost coverage is through comparisons, which are free and easy to make online or by phone. Don’t purchase coverage until you’ve taken the time to compare your options and, of course, the costs, too.
The Bottom Line
If you use commercial vehicles in your business operation, make sure that this business insurance lodi ca is in place first. It is required by law to carry coverage, but more importantly, it protects your employees and other drivers and pedestrians on the roadways. Stay protected!