Coverage for Your Company Cars
Your Long Island business might have grown to the point that you are considering a small fleet of company cars for your sales and service staff. The right auto insurance is vital to financially protect your investment in a company car fleet. It might be a good idea to discuss your specific needs with your agent to obtain the best possible quote for your commercial auto insurance policies.
Typically, bodily injury liability coverage is necessary in case you or one of your employees causes an accident that injures someone else. Property damage liability insurance might be needed in the event you damage someone’s property in an at-fault accident. Your company fleet might also need collision coverage, which can help cover the cost of repairs if one of your vehicles is damaged in a collision. It is also worth considering comprehensive coverage, in case one of your cars is stolen or damaged in a mishap other than a collision.
Personal injury and medical payments insurance may cover healthcare bills or funeral expenses for an insured individual who is hurt or killed in one of your company cars. Uninsured or underinsured motorist insurance can also be an option, as this could provide coverage for injuries and damage if one of your company cars is involved in an accident in which the party at fault has either no insurance, or inadequate coverage, to pay for your damages.
It is important that you make your expectations regarding use of a company vehicle clear to your employees. You may also want to make sure all employees at your company have good driving records, carry proof of insurance, and know what to do in case of an auto accident.
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