Insuring Your Business Vehicles

Commercial auto insurance is required for businesses in Knoxville, TN that use vehicles for business operations. This coverage can help business recover quickly in the wake of vehicle-related accidents and incidents.

What Does Commercial Auto Insurance Cover?

A commercial auto insurance policy may offer the following coverages:

• Liability coverage may cover third-party claims for injuries or property damage caused by your business vehicle.

• Collision and comprehensive coverage may help pay for damage to your vehicle caused by accidents, theft, vandalism, or other incidents.

• Uninsured/underinsured motorist coverage may financially protect against damage caused by an at-fault driver with insufficient or no insurance.

• Hired and non-owned auto liability coverage may cover vehicles your business rents or employees’ personal vehicles used for business purposes.

How Is It Different From Personal Auto Insurance?

Commercial auto insurance often offers specialized coverage tailored to your unique business needs. For example, businesses that transport dangerous materials may select coverage to address the specific risks regarding these items.

A business is often subject to federal insurance regulations if it owns semi-trucks or heavy machinery. Check with your insurance broker to see what coverage you’re required to carry.

How Does Commercial Auto Insurance Work?

After a covered incident, the business files a claim with the insurance provider. The insurer then assesses the claim and, if approved, can cover the costs of the incident up to the policy limits. This helps businesses return to operations quickly and manage the financial impact of accidents.

Contact Us

Whether you own a few vehicles for your small business errands or operate a whole fleet of vehicles, commercial auto insurance is essential to keeping your business financially stable in the wake of accidents or incidents. Contact Ace Insurance Consultants in Knoxville, TN today for a quote or more information.

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.