Even with a wealth of experience, life on the road might be dangerous with risks of collisions and thefts. It is important to protect the vehicle that so often protects your business’ livelihood with a commercial auto physical damage program. There are three important points to consider.
Coverage Can be Comprehensive or Collision Coverage
Collision coverage covers the losses caused by an overturn or an accident with another vehicle. Comprehensive coverage covers losses caused by non-collision incidents such as theft or severe weather.
Coverage Eligibility Depends on the Auto Type and the Risk
A commercial auto physical damage program may cover a range of vehicle types, such as heavy tractor trails that weight over 45,000 GVW or light trucks. Eligible risks may be specific about in which region of the country a risk can occur.
Coverage Eligibility May be Limited by Vehicle Age or Value
It is important to review unit-specific information when picking a program. Some offers have a maximum vehicle age of 20 years or maximum value of $150,000.
Often programs can be written into a package policy or if stand-alone coverage is available. Look carefully at the different benefits of a commercial auto physical damage program to pick the best protection for the specific commercial auto business.