3 Benefits of Investing in Commercial Auto Insurance

 

There were over 150,000 treated injuries resulting from commercial truck accidents in 2021 alone.

If you own a company with one or more commercial vehicles on the road, you should have commercial auto insurance. You've got too much to lose to let your drivers hit the road without it.

In this post, we're going to explain some of the benefits of this type of commercial insurance. There are obvious ones and less obvious ones, so keep reading to find out what they are.

1. You Get Full Coverage

When you get commercial insurance of this nature, you get complete coverage for all scenarios. It is commercial general liability insurance, commercial property insurance, and commercial business insurance all wrapped up in one policy.

Beyond the obvious coverage for actual accidents, you'll be covered against damage from natural disasters, floods, break-ins, and vandalism. All of this is essential coverage because these types of events have the power to stop your business' revenue in its tracks.

With comprehensive coverage, you can continue operating as before without major financial loss. 

2. You'll Be More Creditworthy

In owning a business, there's a good chance you'll have to apply for small business loans at some point. Lenders are always going to look into a variety of factors before issuing you a hefty loan. One of these factors will be the types and levels of insurance that you carry.

So, if you're looking for a loan for a new commercial vehicle to add to your fleet, the insurer will want to know that you carry enough insurance to pay for damage or replacement. If you have a good policy with comprehensive coverage, you'll be able to take out loans more easily than if you have a lesser policy or no policy at all.

3. Roadside Services

Running a company where your fleet of vehicles plays an integral role in how you make your money means that any vehicle breakdown can be devastating. Unfortunately, your reliance on your vehicles doesn't preclude them from having mechanical issues or flat tires.

Many commercial auto insurance policies include coverage for roadside and towing assistance. If one of your drivers is ever stranded on the road, you shouldn't have to pay out of pocket to get them moving again. This gives you peace of mind knowing that your vehicles will be looked after regardless of the situation.

It's Time to Get Commercial Auto Insurance

Now that you know some of the biggest benefits of commercial auto insurance, you can find the right policy from the right insurer. At Tom Needham Insurance Agency, we're always looking out for the best interest of North Carolina's small businesses.

What your commercial auto insurance policy looks like will depend on a number of factors. If you want to learn more about how it works and what you should include in your policy, contact us today to book a consultation with one of our knowledgeable insurance professionals.