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Who Needs Fleet Insurance?

April 22, 2012 By

Whether you have one vehicle or many, if you use your vehicles for any commercial purpose at all, you need commercial or fleet insurance for your rolling stock. This is very important because if you do not specifically cover your vehicles for the purposes for which they are used, you may find a claim being denied you by your insurance company at some future date. Even if you just drive your car to work and use it for business appointments, you should have business, commercial or fleet coverage – even a fleet of one.

Fleet insurance has pretty much the same legal requirements as personal auto insurance. However there are exceptions because states do have different rules. Statewide can help you with this.  It is especially important  if your vehicles operate across state lines.

If you have trailers, liability insurance isn’t needed for them because they are not vehicles. Generally, the liability insurance of the vehicle towing also covers the trailer. It is important to note that comprehensive and collision coverage for the trailers generally need to be written separately though.

Here are some other important points:

  • make sure all drivers are listed under the fleet policy. If a driver is not listed, there is no coverage if they get into an accident;
  • most fleet policies will not cover drivers under the age of 25;
  • the drivers must be properly trained and licensed on the vehicle they are driving; and,
  • the drivers must have good driving records.
  • that your equipment and goods inside the vehicles must have separate coverage for theft and vandalism and this is usually covered by “inland marine” coverage which is a separate policy.

Statewide Insurance will help you find the right insurance coverage for you and your vehicles. Whether you have a large fleet or a small one, we have the experience and knowledge to help you get the coverage you need at the price you can afford.

Call Statewide Insurance Brokers at (888) 258-0272 today for fast, free quotes on your insurance needs.

Oregon Commercial Auto and Truck Insurance

July 20, 2011 By

What is Commercial Automobile And Truck Insurance?

Mount Hood Oregon Statewide Commercial Vehicle Insurance

In Oregon, commercial vehicle insurance is a must for most businesses

Commercial auto (and truck) insurance is specifically intended for the vehicles you as a contractor must use as part of your business. The policies are not limited to vehicles your company owns.

Many Oregon insurance policies provide larger umbrellas of protection for rented vehicles as well as personal vehicles of employees that get used on company business. The costs of such policies can vary, depending on such factors as the number of vehicles involved and the number of potential drivers.

The key to getting commercial auto insurance that works for you is locating an agent that works with several different insurance companies. This will guarantee agent flexibility when it comes time to find a policy that fits the needs of your particular business.

Commercial vs. Personal Auto Insurance

Some people try to buy coverage for their work vehicles from their personal auto insurance agent. Although some similarities exist between the two forms of insurance, this is a big mistake.

All auto policies must cover the following:

  • Damages and injuries resulting from an accident
  • Costs associated with underinsured and uninsured motorists
  • Vehicle theft
  • The theft of property inside vehicles

The needs of your business, however, differ radically from those of the average car owner. To begin, businesses are often targets for lawsuits. It is therefore wise to invest in greater liability insurance. But the added financial obligations don’t end there.

A commercial vehicle typically travels more miles with different drivers. As a result the sum of liability coverage is usually much higher than is the case for personal insurance, as policies cover more than vehicles your company possesses.

Furthermore, if you are in the business of transporting hazardous wastes or expensive equipment, you will need to purchase insurance to cover what gets conveyed in your vehicle. The type and age of vehicle your company uses will also add to commercial vehicle insurance costs and send them higher than the ones associated with your personal vehicle.

Tips to Contain Commercial Vehicle Insurance Costs

Like personal auto insurance policies, those for commercial vehicles offer deductions that can lower your total costs. Following are a few ways you can help make insuring your commercial vehicle more financially manageable:

  • Promote safe driving habits at your company
  • Install devices on your vehicle(s) that deter theft
  • Always screen for high-risk drivers
  • Consider the type and age of any new vehicle to your business fleet

Your vehicle is important or business. So is the kind of insurance you purchase for it: don’t be caught off guard.

Commercial Auto and Truck Insurance is Available for California, Texas, Nevada, Oregon, Minnesota and Virginia from Statewide Insurance Brokers. Call 888-258-0272.