Things You Should Know About Commercial Auto Insurance

 


Being a business owner it is very important to get the best commercial auto insurance in NY. That’s why it is very crucial to understand the basics of commercial auto insurance coverage to protect the commercial vehicle.

 

Typically, commercial auto insurance offers a variety of coverage for cars, trucks, vans, and vehicles. Take a look at the basic parts of a commercial auto insurance policy:

 

·         Physical Damage Insurance: it protects the vehicle from any physical damage, collision, and theft.

·         Commercial Auto Liability Insurance in NY: It protects you from paying the damages incurred to a third party due to your vehicle.

·         Other Coverage: like medical payment, towing, and labor and lease gap coverage

 

Well, these are basic varieties of insurance. Now take a look at the coverage of commercial auto insurance:

 

Collision Insurance

 

Under this insurance, the insurer would pay for the physical damages to the vehicle if hit by another vehicle, regardless of who is at fault. This coverage is crucial if the vehicle is financed or leased.

 

Comprehensive Insurance

 

This insurance pays for the damages caused by an accident. The causes may include theft, flood, earthquake, fire, or from animals or birds.

 

Liability Insurance

 

Liability insurance covers property damage to other vehicles if it's your fault in an accident. It also covers bodily injuries and medical costs and lost wages. In addition, the insurance includes legal expenses if the lawsuit is brought against you.

 

Uninsured Coverage

It helps to protect your vehicle in case of an accident and the opposition party does not have enough liability to cover the bills. It also pays for the injuries and property damages by any unidentified driver.

 

Who Should Buy A Commercial Auto Insurance Policy In NY?

 

Take a look at the most common business that should have commercial auto insurance policies:

 

·         Courier business

·         Public transport businesses

·         Businesses dealing with transportation material

·         Business transport equipment and tools

 

Wrapping Up

Beyond the basic coverage in order to protect your business from any sort of problems, you can buy some of the add-on coverage. It helps to protect you from other unpleasant situations when a commercial auto insurance policy cannot help.

Location: Brooklyn, NY, USA

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