If your business relies on a fleet of commercial vehicles, commercial auto insurance is a necessity. In Florida, auto insurance is required by law. But if you just get the minimum coverage required by law, you may miss out on valuable options and benefits that will protect your bottom line.
Commercial auto insurance has key differences from personal insurance that play an important role in protecting your business and employees. These insurance policies can be tailored to fit the specific needs of your business and insure you have the coverage you need.
Let’s take a closer look at three things you should know about commercial auto insurance.
Personal Auto Insurance Is Not Enough
Commercial vehicles require a separate policy because they’re typically exposed to more risk than personal vehicles.
Commercial auto insurance isn’t just for industrial vehicles like semis or dump trucks. For example, if members of your employees use a car to run errands, carry tools or transport clients, you might also need a commercial auto policy.
You Have Many Commercial Vehicle Insurance Options
While personal auto insurance policies offer relatively similar coverages, a commercial auto insurance policy can be customized to perfectly meet the needs of your business. Besides the required coverage, your commercial auto insurance policy could include:
- Comprehensive and Collision – Coverage for physical damage to your vehicles.
- Emergency Roadside Assistance – Will assist if a driver runs out of gas or needs a tow.
- Medical Payments – Helps pay medical expenses for a driver or passengers for injuries related to a car accident.
- Loss of Earnings – Recover losses suffered when a fleet vehicle is out of commission due to damages resulting from an accident.
- Uninsured Motor Vehicle – Pays for damages caused by an uninsured driver.
Your Commercial Insurance Could Come with Free Fleet Management Tools
If you have three or more vehicles in your business fleet, you could gain access to a free fleet management dashboard. This valuable business tool will give you the information you need to coach your team to drive more efficiently and safely. The tool includes:
- Vehicle tracking - Get near-live updates that show you where your vehicles are, any time.
- Geofencing - Get notifications any time one of your vehicles leaves a pre-defined area.
- Trip reporting - Get summaries of each route completed by your commercial vehicles.
- Safety scorecards - Receive safety scores emailed monthly with tips on how to improve your score.
Conclusion: Protect Yourself and Your Business with Florida Commercial Auto Insurance
Commercial auto insurance is a necessary aspect of protecting yourself, your business and your employees. Talk with an expert about a commercial auto insurance policy that fully protects your fleet and learn how you can access free fleet management tools.
The specialists at Family Insurance Services can work with you to help create a policy that fits your Ft Lauderdale or Florida business.
Schedule an appointment with us today to learn more about our commercial auto insurance options!