While a majority of companies that use vehicles to conduct business must purchase commercial liability auto insurance as required by law in most states, meeting only the minimum legal requirements certainly will not provide your business with enough financial protection. Keep in mind that commercial liability auto insurance only covers injuries and property damage suffered by others in any accident you’re found at fault for.
You need to protect your business and your investment, and commercial physical damage insurance in Anaheim will help to cover the cost of repair, or replacement of damaged commercial vehicles. Any down time due to damaged vehicles in need of repair can dramatically affect your bottom line.
Physical damage insurance options
You can determine what type of coverage you want or need to have. Collision insurance in Anaheim can help you pay for repairs to your commercial fleet vehicles if there is damage resulting from a collision, overturn, or rollover. In the event that your vehicle is deemed a total loss, your collision coverage will pay you the estimated current cash value (minus your deductible) of your vehicle in order to help replace it.
A commercial comprehensive policy helps pay for the repair or replacement of your commercial vehicle anytime that it suffers damages resulting from incidents that do not necessarily involve traffic collisions, including fire, theft, vandalism, major storms, or collisions involving animals. Your policy may be designed to cover other types of damage as well. Consult with your agent for more specifics.
More and more, companies are opting to purchase combined additional coverage (CAC) as part of their fire and theft coverage, especially those working with large, heavy-duty trucks and vehicles. This includes coverage for floods, earthquakes, and incidents involving sinking and other acts that result in severe physical damage to the vehicle.
Where your business is concerned, you can’t afford to have insurance that doesn’t provide for every instance, known and unknown. While physical damage coverages are optional, they can be an essential part of your commercial auto insurance policy. Your company vehicles are one of the most important aspects of your business, and having a policy that includes physical damage insurance in Anaheim can ensure that you’re protecting them to the fullest.