All manner of businesses find themselves in need of business auto coverage – even many that don’t realize it’s necessary. Most small business owners especially feel that if they don’t own and operate company vehicles, then they are exempt from the need for business auto insurance. That isn’t always the case though.
At Johl & Company we will work with you to determine what your business needs in terms of business auto coverage insurance. We’ll also work with you to provide the best possible protection at the right price to meet the needs of your business – no matter how large or small.
Who Needs Business Auto Insurance?
There are some businesses that are more obvious about the necessity for business auto insurance than others. Obviously businesses that operate several vehicles in their services, such as plumbing or HVAC businesses, need business auto insurance to cover their vehicles and the equipment their vehicles carry. Services that transport passengers, like buses and taxis, also need business auto coverage. We can help with all types of business auto policies including private passenger vehicles, delivery vehicles, and commercial trucks.
Some businesses, though, are surprised to discover that they need business auto insurance, since the business itself doesn’t own vehicles. This would include restaurants and florists that provide delivery. The employee making deliveries usually own the vehicle and pay insurance for their vehicles. However, in the event that an accident occurs in which these drivers are at fault, the business may be found liable for judgments in excess of the employee’s insurance.
Another instance where businesses need insurance for vehicles the business doesn’t own is when employees use their personal vehicles to run errands on behalf of the business. It’s the same concept that works for delivery drivers. The business can be found liable for awards that exceed the limits of an employee’s liability insurance coverage.
In both situations, the business will need to invest in business non-owned liability coverage to bridge the gaps in coverage.
What Types of Coverage does Your Business Need?
Aside from the possibility of non-owned liability coverage, most businesses that operate vehicles for the sake of the business will need the following auto coverage at minimum. Companies that operate large fleets of vehicles, that transport potentially dangerous materials, or that transport high-value items will need specialized insurance coverage. Working with an independent insurance agency like Johl & Company will help determine whether or not your insurance needs surpass those of traditional business auto insurance policies.
Otherwise, the average business needs the following types of auto insurance coverage at minimum:
General Business Auto Liability
This type of insurance extends to bodily image liability as well as property damage. This type of insurance covers injuries done to other people by your vehicles or to property owned by other people.
Medical Payments Protection
This coverage extends to medical expenses for passengers and drivers of business vehicles in the aftermath of an accident.
Covers repairs to business-owned vehicles after collisions with other vehicles or objects.
This protects business vehicles from damages done by incidents of vandalism, theft, or acts of nature.
Uninsured/Underinsured Motorist Coverages
This type of coverage helps bridge the gaps that occur when an accident is the fault of someone who has inadequate insurance to cover the medical expenses or repairs to company vehicles.
How Can Johl & Company Help?
Johl & Company has served the insurance needs of New Jersey residents and businesses since 1963. We’re carrying the same commitments of customer service, fairness, and integrity into our next 50 years of business so we can continue to serve you, our friends, family, and neighbors.