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Which Types of Businesses Need Commercial Vehicle Insurance?

Are you looking for insurance to protect your company’s vehicle fleet? Do you wish there was a way to protect any worker that drives your commercial vehicles? If so, then you need to invest in commercial vehicle insurance.

Doing so can protect yourself, your customers, and your workers. It can cover vehicles such as service vehicles, work vans, food trucks, or box trucks (think UPS truck). Perhaps you’re wondering if your business type needs commercial vehicle insurance at all.

If so, then be sure to read the in-depth guide below. There you’ll find more information on the types of businesses that benefit from a commercial vehicle policy.

What Is Commercial Vehicle Insurance?

Commercial vehicle insurance, also known as business auto insurance is a must-have for most small businesses. A simple car crash with one of your commercial vehicles could be a monumental financial loss for your company if you don’t have a policy taken out on it.

But what is commercial vehicle insurance? In short, it provides coverage for any liability or physical damage that involves your (you guessed it!) commercial vehicles. Commercial vehicle insurance is a lot more extensive than personal auto insurance coverage. It offers three types of coverage:

  • Comprehensive Coverage — Offers coverage on a wide variety of scenarios involved with accidents on the road. Covers car crash damage, car rolling, and so forth.
  • Collision Coverage — As the name would imply, this covers any damage that is a direct result of a car accident.
  • Specific Perils — Detailed policies allow for coverage on certain perils that are agreed upon such as coverage against lightning, hail, fire, theft, and more.

As you can see, commercial vehicle insurance can protect your company in many ways. The more often they drive your company car, the higher likelihood one of your vehicles gets involved in a crash.

What Types of Businesses Need Commercial Vehicle Insurance?

Perhaps you’re wondering if your company needs commercial vehicle insurance. You certainly don’t want to pay for the coverage, if not.

We tell business owners that if your company owns or leases a commercial vehicle of any kind, you need business auto insurance coverage for it. That said, there are certain industries that more commonly invest in commercial vehicle insurance such as:

  • Law Offices
  • Beer Distributors
  • Plumbing Services
  • Real Estate Professionals
  • Outside Sales Companies
  • Accountants
  • Logistics and Supply Chain
  • Fruit and Produce Distributors
  • Construction and Contracting
  • Delivery Services
  • Professional Chauffeur Services
  • Marketing Agencies
  • Electrical Distributors/Services
  • HVAC Maintenance/Repair
  • Advertising Firms

The list goes on and on. As you can see, there’s no limit to the types of industries that can benefit from commercial vehicle insurance. If your company even comes close to one industry above, be sure to reach out to our team for more information.

If you’re thinking that your personal auto insurance will cover it, think again. Personal auto insurance is very technical and rarely covers the use of commercial vehicles.

What Commercial Vehicles Does It Cover?

This should be prefaced by saying that there might be certain vehicles that business auto insurance will not cover. Be sure to ask for details on that when you speak with one of our representatives during your initial call.

That said, commercial vehicle insurance covers a wide variety of them! This includes:

  • Snowplows
  • Trucks
  • Buses
  • Taxis
  • Cars
  • Trailers
  • Vans
  • Tractors
  • Limousines
  • Luxury Vehicles & More

Generally speaking, business auto insurance looks for three things when determining whether or not it falls under their coverage.

  1. Does your company own the title of the vehicle?
  2. Is the vehicle being used for business reasons? Does it carry out business tasks?
  3. Is your company currently hiring or leasing the vehicle for its operations?

If the answer to any of the three is “yes”, there’s a good chance business auto insurance will cover it. We’re happy to assess your business model with you to see how far our commercial vehicle insurance will cover your company.

The Benefits of Commercial Vehicle Coverage

Odds are that you’ve already seen a few benefits of commercial vehicle insurance throughout this article. But the perks don’t stop there. Here are a few of the major benefits you’ll receive when you invest in business auto insurance.

  • Gives You Peace of Mind — One car crash in a commercial vehicle can lead to a detrimental amount of damage. With commercial coverage in place, that money won’t be coming out of your pocket. You can carry out your operations with full peace of mind.
  • Perfect for Any Industry — Whether you’re offering a delivery service, in-home service, or what have you, commercial vehicle insurance has you covered. You and your staff can focus on making the clients happy, not playing scared.
  • Lowered Rates — There are many ways to lower your commercial auto rates. You can raise your deductibles, put GPS tracking in your cars, pre-screen your new hires, etc. Be sure to ask us for more ways to save!

We’re in the business of financial protection. We want to help your business thrive even when an emergency occurs. With our commercial auto coverage, your business’ future is protected.

Invest in Commercial Vehicle Insurance Today

Now that you have seen all the different types of businesses that need commercial vehicle insurance, be sure to invest in it for your company today.

For more inquiries, please feel free to reach out via our contact us page and we will be happy to assist you further.