Additional Coverage for Commercial Vehicle Insurance
Reader’s Question:
What additional insurance coverage are available on top of my commercial vehicle insurance for my business trucks and vans here in San Francisco?
Larry
San Francisco CA
It is common knowledge that providing a car insurance coverage is mandatory by many states in the U.S., and businesses using vehicles are not exempted by this rule. If you and your employees use a vehicle for business and work purposes, a commercial vehicle insurance is more appropriate than your personal car insurance policy. Even if you’re using your own vehicle for business purposes, your personal car insurance policy will not suffice.
Your commercial vehicle insurance in San Francisco should cover for all the vehicles that your business uses, including those vehicles that your employees owns but used for business purposes. Among the ordinary coverage that should come with commercial vehicle insurance are:
- The mandatory liabilities coverage to cover for property damages and bodily injuries to the other party and their cars during an accident;
- Uninsured or underinsured motorists coverage to protect you in case the negligent driver have inadequate insurance coverage or none at all;
- Collision coverage that will pay for damages made to your vehicle during an accident; and
- Comprehensive coverage that will pay for damages made to your car due to theft, blizzard, tornado, fire, and other similar circumstances.
There are additional vehicle insurance coverage you can avail on top of your main insurance policy at additional costs.
- The cargo insurance coverage will protect you in case your customers’ inventories or freight are lost while you are transporting or storing them;
- The tool and equipment coverage will protect your equipments and tools that you used for business while they were in or on your vehicle;
- The crime insurance coverage will save you from a loss due to a theft even if it is due to your employee;
- The rental reimbursement coverage will assist in providing you a rental vehicle during the period when your commercial vehicle is being replaced or repaired;
- The business interruption coverage will help you regain your lost income that resulted from a covered loss; and
- The umbrella coverage will help you finance your liability coverage in case your main vehicle insurance coverage has exceeded its limits.