Do Orlando Businesses Need Commercial Auto Insurance?

commercial insurance

Many Orlando operations mistakenly believe that a basic Business Owner’s Policy (BOP) or general business property insurance policy will cover all their assets. In reality, there are a number of limits to the types of property these policies are designed to protect. For example, neither a BOP nor a commercial property insurance policies will protect business vehicles, their owner or their operators. Instead, Orlando business owners must secure additional business auto insurance coverage from their Orlando insurance agencies.

Orlando business auto policies are similarly structured to a personal insurance policy, however, there are often more parties involved. As with Orlando car insurance, a business auto policy will offer financial protection to the policy holder and endorsed drivers in the event of an accident. Florida law requires that vehicle owners secure liability insurance for bodily injury and property damage that may result from a vehicle accident. State laws also require motorists to carry Personal Injury Protection (PIP) coverage which is designed to cover medical expenses. With a business auto policy, this coverage can be extended to employees of an organization utilizing the vehicle for business purposes or on business time. Business auto policies can also be secured for business owned, rented, leased or hired vehicles.

Your operation’s commercial auto insurance needs will fluctuate depending on the number of vehicles your operations utilizes. Each vehicle you use in your business can be separately listed on your business auto policy. This afford’s business officials the opportunity to choose different coverage inclusions and limits for each vehicle. These needs will be determined by each vehicle’s role in the business, as well as its characteristics, value, ownership status and many other factors.

When it comes to breaking down your business’s insurance needs, it helps to have a knowledgeable advisor on your side. At Newman Crane, we specialize in helping Central Florida businesses find the commercial insurance solutions they need. Our commercial auto insurance specialists can help find the products necessity to cover all company vehicles including autos, vans, and trucks against liability and physical damage risks. To learn more about our operation and our offerings, contact us today at (407) 859-3691.