It does not matter if you have one vehicle or several for business purposes. All of your business vehicles must have commercial auto insurance coverage. Just like personal auto insurance is mandatory, the same is true for commercial coverage. You are required by law to have coverage for all business vehicles. This includes cars, vans, trucks, etc…
What is a commercial vehicle? In short, it is any vehicle used in the operations of your business. If you transport parts, passengers, flowers, anything for business makes it a commercial vehicle. In most cases, your state will have minimum requirements that include liability coverage to pay for damage you cause to others. This can include vehicle repairs, loss of personal property, and related medical bills. Keep in mind this liability coverage does not include coverage to repair or replace your own vehicle.
While liability is usually the minimum allowed, there are options that business owners can purchase. You might want comprehensive commercial auto insurance to pay for any damages to your vehicle, no matter the cause. There are several other possibilities that you can discuss with an insurance broker. In most cases, the policy best for you depends on the specifics of your business.
The cost of this policy will vary based on various factors. The type of vehicles being insured, your business location, and who will be driving will affect your rates. If money is a concern, you can inquire about discounts or special offers that will help lower your costs. If nothing else, make sure to get liability coverage when you purchase commercial auto insurance.