Common Misconceptions about Commercial Auto Coverage

What you don’t know can hurt your business – specifically its bottom line. If you think all Orlando FL Commercial Auto Liability policies (and all commercial insurance providers) are basically the same, think again. Don’t fall victim to these three common misconceptions about commercial auto coverage.

All Commercial Auto Policies Automatically Cover all Employees

This is definitely not true. You can absolutely purchase a commercial auto policy that specifies it covers any employee who is driving the vehicle. That type of policy will cost you more, but should an employee ever become involved in an accident, the benefits of such a comprehensive policy will outweigh the costs. Don’t assume that your policy has this broad coverage. Most policies cover only drivers whose names are listed on the policy. Make sure to discuss your wishes in detail with your insurance provider so you end up with a policy that covers what you want it to cover.

It’s Safe for Seasonal Business to Cancel Their Vehicle Insurance during Non-peak Seasons

Your company vehicle may not be driven during a particular season, but it’s still at risk of theft, vandalism, fire, and weather-related damages due to flooding and hail. According to the Rocky Mountain Insurance Information Association, the largest hailstone on record in the United States weighed nearly 2 pounds! Imagine chunks of ice that big falling from the sky onto your vehicle, and you’ll certainly understand the wisdom of carrying vehicle insurance year-round. Another reason not to cancel your policy during the offseason? You may discover that reinstating your policy during your peak-driving period could cost as much as double the price as the policy you canceled.

You Have to Pay Commercial Insurance Premiums In Advance

Again, not all policies or providers are the same. If you work with an insurer who values customer service and relationships, you’ll probably be pleased to find flexible payment plans that allow you to pay premiums on an installment basis.

At Newman Crane & Associates Insurance, customer service is our top priority. We pride ourselves in helping individuals and businesses protect their interests with comprehensive insurance coverage they can afford, and the ability to file claims 24 hours per day. Call us at (407) 859-3691. We’d love to work with you!