Getting commercial auto insurance will mean adjusting the included benefits to fit your particular needs. Standard benefits like liability, collision, comprehensive and uninsured/underinsured motorist coverage are tailorable to the individual policyholder. However, at times you will need additional benefits that, while optional, can provide significant financial assistance in case you ever have a problem behind the wheel.
There are numerous add-ons available for the average commercial auto policy, and the more you have, the better you will be able to weather unexpected storms that might arise at any moment.
Add-On One: Gap Coverage
Gap insurance will allow you to pay the difference between your settlement and the remaining loan cost.
Add-On Two: Roadside Assistance
Company vehicles can break down from time to time, and whether it’s an empty gas tank, dead battery or flat tire, these issues can be big inconveniences. If you or one of your drivers get caught in this situation, then you naturally will want easy access to assistance. A roadside assistance benefit will allow your insurer to dispatch an approved service provider to your location, usually at no charge, and they can have you back on your way in no time.
Add-On Three: New Vehicle Replacement Coverage
Should one of your company vehicles get totaled in an accident, you will want to replace it. This coverage will ensure that your policy pays you the amount of money necessary to buy a new model for the same vehicle.
Add-On Four: Rental Reimbursement
Sometimes, you will need to rent a vehicle if one of your fleet vehicles is being repaired after a covered insurance claim. This coverage can supplement those costs to lessen your own burden. This coverage does not cover if a vehicle is being repaired for routine maintenance.
Before buying any add-ons for your policy, you need to inspect the terms of your existing coverage. Some policies will already include these benefits, and you won’t need add-ons as a result. Still, once you have your base policy in place, chances are that your fleet—and anyone driving for your business—could use some extra coverage.
Get the best commercial auto insurance policy options available.