Your commercial auto policy might be good, but is it perfect for you? When it comes to commercial auto insurance, you have a lot of options to pick from. Below, we’re covering the best policy add-ons around.
Add-On One: Gap Coverage
Commercial auto insurance gap coverage is one of the most important add-ons. If one of your fleet vehicles gets damaged, gap coverage can help. It pays the difference between the vehicle’s loan amount and your insurance coverage.
Add-On Two: Roadside Assistance
Roadside assistance protects your finances if one of your vehicles breaks down. You can usually receive this protection at a minimal increase to your rates. If one of your fleet’s automobiles gets a dead battery, roadside assistance coverage can help. Or, if one of your cars gets a flat tire, it might cover the towing and a replacement.
Roadside assistance coverage doesn’t cost much. You can also customize it to meet your fleet’s needs, giving you better control when disaster strikes.
Add-On Three: New Vehicle Replacement Coverage
Should one of your company vehicles get totaled in an accident, you will want to replace it. This coverage will ensure that your policy pays you the amount of money necessary to buy a new model for the same vehicle.
Add-On Four: Rental Reimbursement
Sometimes, you will need to rent a vehicle if one of your fleet vehicles is being repaired after a covered insurance claim. This coverage can supplement those costs to lessen your own burden. This coverage does not cover if a vehicle is being repaired for routine maintenance.
Double-check your commercial auto insurance policy before buying add-ons. A lot of base policies are customizable. Sometimes, you won’t need add-ons.
Once you’ve bought a base insurance policy, ask about the add-ons. Chances are, your fleet—and your employees—could use some extra coverage. Between breakdowns and rentals, your expenses might get a little high. Don’t leave your drivers without transportation. Get the best auto insurance policy options available.