North Texas Commercial Auto Insurance
Most businesses in Plano and surrounding areas all have some kind of vehicles and they require more than standard auto insurance. In fact, you must have Commercial Auto Insurance when you use vehicles for business. When your vehicles take to the road, they are at risk for accidents and each day people are seriously injured or killed, and millions of dollars in property damages occur. To make sure you are not financially impacted by an auto accident, you need the right kind of coverage in place and here is a good example.
To earn extra money while he was in high school, Bart started working in a local florist shop. He began making deliveries but soon discovered he had a flair for this kind of business. In fact, Bart took special training to be a florist and within a few years time, Bart's Flowers was a very popular business in the city of Plano.
When Bart first started his flower shop he contacted a reputable independent insurance agency to help him manage his business risks. Bart's agent was very knowledgeable and helpful and provided him with a comprehensive business insurance policy which included Commercial Vehicle Insurance. Bart needed additional auto insurance protection because part of his business was making deliveries to homes and businesses.
Bart's Flowers flourished and did very well and when Valentine's Day neared he knew he was going to be extremely busy. On the afternoon of the 14th, one of Bart's delivery cars developed trouble. However, to save the day, James (his regular delivery person) offered to use his own car.
About two hours later, James was involved in a serious traffic accident when his car skidded into a senior bus during a sudden rainstorm. Several of the bus occupants were injured and the claims were well over $100,000. Under normal circumstances, James' auto insurance would not cover the claim because he used his car for business. Plus, Bart's Business Auto Insurance would not pay, because Bart did not own the car. Thankfully, Bart's agent told him about ENOL coverage. This stands for employer non owned liability insurance and it covered the claims.
What Is Commercial Auto Insurance?
Insurance for your business vehicles is similar to your personal car insurance. However, it includes larger liability limits and covers other transportation related risk factors.
Who Should Have Commercial Vehicle Insurance?
The following business should consider this coverage:
- Trucking services
- Businesses that make deliveries
- Company fleets
- Manufacturing companies
- Warehousing companies
- Owner operators
- Taxi and limo services
- Airport shuttle services
- Gravel businesses
- Cement delivery businesses
- Tow services
- Septic services
What Does A Typical Business Auto Insurance Policy Contain?
The most important coverage you will need is liability auto insurance. The minimal amount you are required will vary according to your business. For example, general freight carriers will need at least $750,000 in liability insurance. If you haul hazardous waste you may need as much as 5 million dollars of coverage. Passenger carriers with fewer than 15 passengers must have 1.5 million. Your insurance agent will advise you of the requirements and remember, these are minimal requirements and may not be sufficient for your needs. In addition, you should also consider:
- Uninsured motorists
Commercial Auto Insurance Options
Your insurance options will depend on your particular business. For instance, if your business tows vehicles you will want to include on-hook liability coverage. You also may need:
- ENOL - employer non owned liability covers your employees when they use their own cars for your business.
- Inland marine insurance - also called cargo insurance. It covers materials while they are in transit.
- Vehicle replacement coverage
- Hired vehicles
- Roadside assistance
- Downtime insurance - pays you for a replacement vehicle while yours is in the shop.
- Umbrella insurance - covers claims in excess of your normal auto liability insurance.
Shopping For Business Auto Insurance In Texas
Running a business can be hard work and covering all your risk factors can be tricky. That is why you should go to an insurance professional for your business insurance and this will include an insurance policy for your vehicles.
Instead of going through all the trouble of choosing the right insurance and the right insurance company, you only need to do one thing. Come to an independent insurance agency like Advantial Insurance Agency and we do all the rest.
You don't have to shop for Commercial Vehicle Insurance because we do that for you. Our experienced agents have access to multiple insurance carriers and we check them out to get you the best rates and coverage. Your independent agent is not a typical insurance agent working for an insurance company. We work for our clients and our clients are the most important part of our business.
Why take chances with your business and risk paying too much for coverage? Visit Advantial Insurance Agency today for your free insurance quote.