Misconceptions Surrounding Commercial Automobiles Insurance in Policy

It is important for company owners to know that personal auto insurance policies do not cover vehicles that are used for business purposes. Any business owner or self-employed person should purchase a Commercial Automobiles Insurance in Policy to cover risks and liabilities that arise during day-to-day business operations. Below are several misconceptions surrounding commercial vehicle insurance.

All Insurers Offer Round-the-Clock Service

Those who think that all commercial insurance companies offer 24/7 service and it’s possible to get in touch at any time of the day or night will be sorely disappointed. There are many insurers who only offer service during normal business hours, which can be inconvenient for those who need to pay a bill or make a claim at the last minute. This requires business owners to plan and mail their checks before the due date.

It’s Always Best to Buy Multiple Types of Insurance From One Provider

It may be convenient to bundle different types of insurance so there’s only one company to call for payments and claims, but it’s possible to save a significant amount of money by buying different policies from various providers.

All Employees Are Covered to Drive Company Vehicles

Most insurers only extend coverage to drivers who are named on already verified policies. The insurer may cover a select few employees, or everyone could be covered. It is best for company owners to ensure that all potential drivers have clean motor vehicle records.

Seasonal Businesses Can Cut Expenses by Canceling Auto Insurance

Vehicles that sit unused during the off-season aren’t protected if the Commercial Automobiles Insurance in Policy is canceled. Therefore, if there’s a storm, theft, vandalism, or natural disaster, the business owner won’t be able to seek compensation. When business owners cancel policies during the off-season, they may have to pay twice as much when they attempt to start coverage again. If the vehicle won’t be used for an entire season, drop the coverage to liability only to save money without sacrificing protection.

While some business owners skimp on insurance to save money, and others believe many of these misconceptions, commercial auto insurance doesn’t have to be complicated. Visit Coastautoinsurance.com to learn more about coverage options for businesses of all sizes.

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