Insurance Implications of Adding Vehicles to Your Company Fleet
As a growing business, ensuring you are receiving the protection your company requires to flourish is crucial. As a business that operates with the help of company vehicles, you must have a commercial auto insurance policy tailored to meet your exclusive needs. However, as your company grows, you may be in need of a commercial fleet insurance policy to ensure that each of your work vehicles is covered.
There are a variety of businesses that depend on their fleets to complete business operations, including street sweepers, door-to-door sales representatives, caterers, rental car companies, sanitation departments, and many more. Since these vehicles act as a major influencing factor to the success of your business, you must have protecting those vehicles at the top of your list of priorities.
When your company begins to expand and take on dozens of company vehicles as opposed to a couple, there are a variety of insurance measures that must be taken, including:
- Increase Physical Damage Coverage – Now that you have more company vehicles, you must think about the increased risk of physical damage. Increasing your physical damage coverage will ensure that any collisions, falling objects, or vandalism on your fleet will be covered.
- Raise your Liability Coverage Limits – Now that you have a fleet of vehicles, chances are you have hired new employees. Before taking on a larger team, you likely knew and trusted each of your team members. Now, you must increase your liability limits to account for potentially less trustworthy employees that may drive more recklessly.
- Invest in Roadside Assistance – Since your business operations depend on the functionality of your company vehicles, it may be a good idea to invest in roadside assistance. This will ensure immediate response if any of your company vehicles break down.
Is your fleet of company vehicles receiving optimal protection? Contact The Misner Agency for your commercial insurance needs. We operate in Bloomingburg, Livingston Manor, Westtown, and Woodbourne, New York.