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The Benefits of Commercial Auto Insurance

Posted Jan 13th, 2020 in Media, General, Insurance Tips, Auto Insurance, Commercial Insurance, Did You Know?, In the News

Many businesses rely on company vehicles for various reasons. It’s crucial your business is protected with the right commercial auto insurance coverage.


The Benefits of Commercial Auto Insurance, Youngs Insurance, Ontario

If you have a commercial vehicle that is leased, rented or owned, and is used for business purposes, it must be insured properly. It’s important to protect your drivers and vehicles through proper insurance coverage.  We’ve established a list of the benefits of commercial auto insurance for you.  

Personal Insurance Isn’t Enough

Personal auto insurance doesn’t provide adequate coverage for accidents that occur while policyholders are driving for business purposes.  If you don’t have commercial auto insurance in place, you may have to pay out of pocket if you or an employee experiences a collision while doing work-related tasks such as making deliveries and picking up supplies.  Simply put, commercial vehicles need commercial insurance coverage.

Benefits of Commercial Auto Insurance

Comprehensive Coverage

Accidents aren’t the only cause of damage. Besides coverage for collisions, commercial auto insurance can provide comprehensive protection for damages that are unrelated to an accident such as losses from theft, vandalism, fires and floods.  

Third-Party Liability Coverage

Collisions can cause damage to nearby property and valuables.  Commercial auto insurance provides a range of protection if you were to cause damage to another person’s vehicle or property.  Also, if the collision results in bodily harm and expensive medical costs to you and anyone else involved in the accident, commercial auto insurance policies can cover medical costs, legal expenses and lost wages. 

Physical Damage and Collision Protection

If an accident occurs, your employees may need to pay for vehicle repairs for the vehicle you own as well as any others involved in the collision.  Regardless of who is at fault, commercial auto insurance can reimburse policyholders for vehicle repair costs.  Additionally, some policies can provide coverage for uninsured motorists, which provides an extra layer of protection.

Did you know you can choose even more security?

It's true! Commercial auto insurance policies can be customized. You can select from a variety of common policy add-ons (endorsements) that would benefit your needs such as new vehicle replacement cost coverage, towing reimbursement, roadside assistance coverage, to name just a few. Your broker is an excellent source of information and can assist you in building a policy that is perfect for you.   

If you have any questions about commercial auto insurance be sure to contact your Youngs Insurance representative today!


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