Do you have a single vehicle or even a fleet of cars and trucks you use for business? Are you covered properly?
Are you sure?
A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.
Commercial automobile insurance policies are not regulated in pricing, as are private passenger policies. There is price competition between insurance companies for good commercial automobile insurance.
Two of the most important factors that go into determining the underwriting risk on motorized vehicles are: performance capability and retail cost. Vehicles that are commonly considered luxury automobiles usually carry more expensive physical damage premiums because they are more expensive to replace.
Commercial automobile insurances’ primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom.
The specific terms of vehicle insurance vary with legal regulations in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.
When considering your needs for insurance products for your home or business consider contacting Bennett Insurance Group at 623-979-4140
Presented By:
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com
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