Closing The Gaps: Business Auto Insurance
By Pekin Insurance · Aug 9, 2022 ·1 min read
Fall is quickly approaching and that means rougher weather is ahead. The roads get a little bit more dangerous during this time and more accidents happen. From utility vans to pickup trucks, we know that as a contractor you depend on a variety of vehicles to get the job done. What coverage do you have in place to protect the vehicles you depend on to do your job?
At the very minimum, you should have a business auto insurance policy to protect your work vehicles. We offer a full line of coverages that protect the vehicles themselves and your personal liability in the event of an accident. Business auto insurance can be used for refrigerated vehicles, delivery vans, private passenger cars, pickup trucks, utility vans, and more.
Don’t forget to include the commercial auto enhancement endorsement to gain access to even more great coverages. For example, if two of your work vehicles collide, we won’t make you pay both deductibles because this enhancement provides a waiver of collision deductible for two or more covered vehicles! This enhancement also provides Loan/Lease GAP Coverage. This means If you financed a work vehicle for $21,000 and you total it 6 months later when the value has depreciated to $18,000, we will still cover the remainder of your financing. These are just two of the various benefits the commercial auto enhancement endorsement offers that your basic business auto insurance policy does not have, so we always recommend considering it!
Another great benefit of business auto insurance is your ability to suspend coverage for a given time with the commercial auto lay-up endorsement. We know many contractors take on seasonal work, so we offer the ability to suspend and remove coverage when your vehicles are not in use. You can choose to remove coverage for physical damage, liability coverage, or both. If you do this, there is no coverage for the vehicle until you add it back to your policy. This can reduce premiums and be a great cost-saving measure during the off-season.
Having a business auto insurance policy in place means that when the roads get bad or the season gets busy again and accidents happen, we’ll be there to help get your work vehicles up and running again, protect your liability in the event of an accident, and ultimately, help get you back to work more quickly without breaking the bank. It’s why we do what we do! Contact your local Pekin Insurance Agent for more information. You can find an agent near you by clicking here.