Getting your commercial vehicles insured may seem like a daunting task but in the end, it guarantees your peace of mind. The challenge lies in deciding upon coverage and determining the right plan which provides everything according to requirements. It is a step by step process that we will guide you through.
First and foremost, you have to determine the extent of the coverage you will need for your business. While most of it is similar to personal auto insurance, there are some different aspects which you must focus upon. The coverage, liability, exclusions, definition, eligibility and limits are a few important objectives of commercial auto insurance that every business owner should know about.
Commercial vehicle insurance is recorded and rated very differently than other insurance policies. It is specifically required to safeguard certain vehicles and their owners against damage claims. This insurance aims to protect business owners in particular situations where sometimes they may be at fault too.
If you are a business owner who uses their vehicles for transporting people, goods, personnel or other tools for a fee, then you might be in need of a commercial auto insurance policy. Basically, this covers costs of physical damage, medical bills and any other liability that is not insured under the personal automobile policy.
The coverage provided by Advanced Taxi Brokerage is comprehensive and collision as well as personal injury. Here are some details regarding the coverage provided by our commercial auto insurance policy:
- Physical injury liability- this includes costs of bodily harm caused by an accident and in some unfortunate cases, death which could have been a result of an accident caused by you. Most of the times, in such a situation, the insurance policy coverage provides the insured with a legal defense.
- Property damage liability-if your vehicle ends up on the wrong side of an accident and damages another person’s property, this will protect you in case of a liability claim. You will also be provided with a legal defense in certain situations.
- Combined single limit- usually, liability policies provide the insured with separate limits to cover physical injury claims under property damage. In the case of a combined single limit policy, a set and equal amount of money is provided to cover certain occurrences which involve bodily harm or damage to the property. This applies to one individual or several members of the household.
- Comprehensive physical damage-it provides coverage for damage to the vehicle in cases of theft, collision, a natural disaster like flooding, fire, vandalism and any other which may be incurred.
- Medical payments- this provides personal injury coverage, regardless of fault. It pays for medical expenses of the people in the vehicle, driver or passengers who may be harmed during an accident which could be either party’s fault.
As a business owner in the commercial transport industry, you need a commercial auto insurance policy. We can easily provide you with all the guidance and as well as the right policy. The company has a strong presence in New York City, particularly business centers such as Manhattan. If you have any queries or require more information, you can contact our growing network of brokers and representatives.