Things You Should Know About Commercial Auto Insurance

BeingabusinessowneritisveryimportanttogetthebestcommercialautoinsuranceinNY.That’s whyitisverycrucialtounderstandthebasicsofcommercialautoinsurancecoveragetoprotectthe commercialvehicle.

Typically,commercialautoinsuranceoffersavarietyofcoverageforcars,trucks,vans,andvehicles.T akealookatthebasicpartsofacommercialautoinsurancepolicy:

• PhysicalDamageInsurance:itprotectsthevehiclefromanyphysicaldamage,collision,andtheft.

• CommercialAutoLiabilityInsuranceinNY:Itprotectsyoufrompayingthedamagesincurredto athirdpartyduetoyourvehicle.

• OtherCoverage:likemedicalpayment,towing,andlaborandleasegapcoverage

Well,thesearebasicvarietiesofinsurance.Nowtakealookatthecoverageofcommercialautoinsur ance:

Collision Insurance

Underthisinsurance,theinsurerwouldpayforthephysicaldamagestothevehicleifhitbyanoth ervehicle,regardlessofwhoisatfault.Thiscoverageiscrucialifthevehicleisfinancedorleased.

Liability Insurance

Liabilityinsurancecoverspropertydamagetoothervehiclesifit'syourfaultinanaccident.Italsoco versbodilyinjuriesandmedicalcostsandlostwages.Inaddition,theinsuranceincludeslegalexpens esifthelawsuitisbroughtagainstyou.

Ithelpstoprotectyourvehicleincaseofanaccidentandtheoppositionpartydoesnothaveenoug hliabilitytocoverthebills.Italsopaysfortheinjuriesandpropertydamagesbyanyunidentified driver.