Why You Need Insurance for Your Work Vehicles

Insurance is a critical component of risk management. The right policy can help insure against physical damage, medical costs and liability exposures. Moreover, insurance is generally required by law, making it an essential investment for all businesses.

What Does Commercial Auto Insurance Cover?

Commercial auto insurance refers to coverage that can help financially protect vehicles used for business operations. Depending on the policy, it may include coverage for collisions, noncollision events (e.g., theft or vandalism) and liability (i.e., damage caused to others). In many cases, liability coverage is mandated by law; however, physical damage coverage can also be vital for avoiding costly repair bills after an accident.

For certain businesses, other forms of auto insurance may be relevant, such as non-owned or hired auto insurance. This coverage can help insure employee vehicles when used for business purposes—an aspect generally excluded from personal auto policies. Your Apple Insurance Agency representative can help explain these options in more detail.

Why Does It Matter?  

Again, certain forms of auto insurance are generally required by law. This is one of the key reasons why having adequate coverage is important.

Beyond legal mandates, commercial auto insurance can help after an accident. Consider if a business vehicle gets into a collision and requires extensive repairs. Without insurance, the business would need to cover these expenses, potentially impacting operations while the vehicle is out of service.

What Does It Cost?

The price of a commercial auto policy depends on numerous factors, including:

• Number of vehicles

• Number of employees

• Location

• Size of the business

• Industry

Where Can a Business Get Insured?

If your business uses vehicles for work, contact Apple Insurance Agency today to review available policy options. We can help assess your operations and recommend coverage that meets your unique requirements.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.