We understand that purchasing auto insurance for your commercial vehicles can be a time-consuming and complex process. Having too much coverage can lead to higher costs than necessary, while too little coverage can put your company at significant financial risk. Whether you’re insuring your first company vehicle or an entire fleet in the Tampa Bay area, our licensed agents take the time to understand your business’s needs and offer customized options that will protect your company’s vehicles, liability, and profits.
Does My Business Need Commercial Auto Insurance?
If you use a vehicle for business purposes, a personal auto policy may not provide sufficient coverage. Commercial auto insurance offers a variety of coverage options to protect vehicles used for business-related activities, such as making deliveries, transporting equipment, or visiting clients. It provides higher liability limits, lower deductibles, and covers specific risks not included in personal policies, such as accidents involving employees or the transportation of goods. Without proper coverage, your business could face significant financial loss in the event of an accident. Having the right insurance is essential for mitigating risk and ensuring the long-term profitability and viability of your business.
Understanding Your Auto Coverage Options
A standard commercial auto policy provides essential protection for businesses that utilize vehicles as part of their operations. It typically includes several key coverages:
- Liability Coverage is required by law for all auto insurance policies in Florida. It protects your business in the event that you (or an employee driver) are found responsible for causing bodily injury or property damage to others while operating a company vehicle. It covers legal costs associated with these claims and helps shield your company’s assets.
- Collision takes care of repair costs for your vehicle following an accident, regardless of who is at fault. It can be especially beneficial for businesses that rely on their vehicles for daily operations, as it offers covered repairs to restore the vehicle to its pre-accident condition after a covered incident.
- Comprehensive insurance offers protection against non-accident-related incidents. This coverage typically includes theft, vandalism, fire, and damage caused by covered natural disasters. It protects your business from a range of unforeseen events that could otherwise result in significant financial loss.
- Uninsured/Underinsured Motorist pays covered claims when your company vehicle is involved in an auto accident with a driver who lacks sufficient coverage, or who is uninsured. The policy may cover medical expenses and lost wages, up to the policy limits, adding an extra layer of financial security for your business and your employees.
Vehicle Considerations for Lower Insurance Premiums
Commercial auto insurance premiums are based on a variety of factors related to your operation, vehicles, and drivers. To get the best rates, carriers may consider the following:
- Driver Management: We examine whether you run MVRs (Motor Vehicle Records) on your drivers to assess their history, and if you provide driver training. We also consider if your business has a strict policy regarding cell phone use in company vehicles, as distracted driving is a leading cause of accidents.
- Vehicle Usage and Maintenance: The average age of your company vehicles and whether they are regularly maintained can also impact premiums. We also factor in whether you use Telematics to manage vehicle usage and promote safe driving habits.
- Storage and Security: Where your vehicles are stored can affect rates. Vehicles kept in a covered garage or secure area often have lower premiums than those left in an open parking lot.
- Personal Use: We determine whether your business allows individual use of company vehicles and whether you need rental car coverage to keep your operations running in the event a vehicle is out of service.
A Trusted Choice Agency
As a proud member of Trusted Choice, Commercial Insurance Specialists adheres to a higher standard of business ethics. This designation signifies that we work for you—not an insurance carrier—giving us the flexibility to provide transparent quotes and find the best policy for your specific needs. Our experienced and knowledgeable team is dedicated to delivering unparalleled service and prioritizing your business needs.
Get Your Free Commercial Auto Insurance Quote
Commercial Insurance Specialists is a locally operated, family-owned independent insurance agency with three convenient office locations and a service area that extends from Sarasota-Bradenton to Tampa-St. Petersburg and Lakeland, Florida. Contact us today for a free, no-obligation commercial auto insurance quote!
