In California, business owners must acquire commercial auto coverage based on the state’s requirements. However, the policy must provide adequate coverage according to the company’s exact requirement. These requirements relate to what type of services the company performs. The following are details about what company owners can expect from Commercial Vehicle Insurance.
Coverage for the Vehicle and Contents
The level of coverage acquired for commercial vehicles provide protection for the vehicle as well as any items inside the automobile. This will include products that are delivered to clients. Any inventory that is stored inside the vehicle is also covered under these policies. The owner acquires full coverage for their vehicle and drivers. They also acquire coverage for any victims who are involved in an accident in which the company is at fault.
Limitations for Coverage
The coverage pertains to any accident or loss that occurred while the driver was performing business-related services. They cannot acquire coverage for any occurrences that happen during non-business hours. This is considered the personal time and not included in most policies. Any events that lead to damage during this time are paid by the owner or through as separate policy.
Who Controls the Coverage Level?
The owner controls the coverage level achieved. They review opportunities through their preferred insurer. They can achieve any level ranging from liability to comprehensive. The insurance provider explains what is included in each policy to enable them to make the best choice possible.
Does the Owner Need Two Types of Insurance?
If they intend to drive the vehicle at all times, they will need to purchase standard liability coverage at least. The policy covers the vehicle when they aren’t using the vehicle for business purposes. The owner could acquire a higher coverage level if they prefer to protect their investment more fully.
In California, business owners acquire insurance to lower the risks of a complete loss. The insurance provides protection during business-related purposes. This protection lowers te chances of a total loss if a driver is involved in an accident. Business owners who need to purchase Commercial Vehicle Insurance visit us website today.
