Commercial Auto Insurance in Orlando, FL
Commercial auto insurance can be a crucial component of any company’s risk-management strategy, as it may help businesses handle potential financial setbacks arising from unexpected events. Unlike personal auto policies, this coverage can address the distinct risks companies encounter, such as transporting products, traveling to job sites or driving clients to appointments.
What Does Commercial Auto Insurance Cover?
Commercial auto policies may be tailored to fit the needs of various organizations, but frequent coverage options include the following:
- Liability coverage may help pay for third-party bodily injury or property damage if you or your company driver is at fault in an accident.
- Collision coverage may reimburse repair or replacement costs if your vehicle is damaged in a collision with another car or object.
- Comprehensive coverage may offer financial support following a fire, theft or vandalism.
- Uninsured/underinsured motorist coverage may help your business manage costs if another driver causes an accident and lacks sufficient insurance.
Is This Coverage Required?
Florida law requires any business that owns or uses vehicles for work purposes, whether a single car or a fleet of trucks, to carry commercial auto insurance. Those without required coverage may face license suspension, reinstatement fees and other penalties. While the state’s minimums satisfy legal requirements, many businesses opt for higher coverage limits to better manage the financial impact of lawsuits, property damage and medical costs that can exceed the state minimums. This coverage is beneficial for most businesses, including contractors, delivery service providers and real estate agents.
Where to Get Commercial Auto Insurance
Our team at New Venture , L.L.C Insurance Agency can help you understand your insurance needs and provide ongoing support as your business grows. Contact us today to discuss your coverage options and get a personalized quote.