3 Company Vehicle Insurance Tips You Cannot Afford To Miss Out On

The benefits that a company car promises for both the employee and the company should not be understated. The company car establishes a conforming presence for your customers by offering a consistent travelling standard for your employees. Similar to other vehicles, company cars must be insured at all costs to meet the minimum insurance requirements under state law. However, when establishing your insurance, there are other considerations too.

Read on the following tips to ensure you make the most out of your company vehicle insurance.

1. Towing And Rental

Company vehicles may face accidents or breakdowns, so don’t forget to pick towing and rental coverage. In an accident, rental coverage is ideal. It reimburses your business for rental expenses incurred post-accident that result in the loss of your vehicle’s use. If you face an accident-related situation, towing coverage can help in this regard as well. Based on your policy, the coverage may also support in case of a flat tire, vehicle breakdowns, and related mechanical issues.

2. Physical Damage Coverage

Your insurance plan should safeguard your vehicle investments. Therefore, carrying collision coverage is necessary. This would even protect your vehicle from damages that occurred as a result of theft, fire, collisions with stationary objects, and acts of fowl and nature. As well, it protects the investments of your enterprise (the vehicle), making sure that they remain on the road even after the accident. In the case of a total loss of vehicle, the actual cash value of the car will be paid by the insurance.

If you have purchased new vehicles or leasing your company vehicles, consider investing in the gap insurance coverage. This type of insurance helps bridge the gap between the remaining finance amount and the value of the vehicle. Should your stolen or totalled vehicle’s actual value be less than the financial value, the difference will be paid by the gap coverage, up to the contract amount.

Remember, your business will never face substantial financial loss.

3. Liability Insurance

The responsibility of the vehicles and the employees operating them lie within the companies. When it comes to protecting your business from legal punishments as a result of bodily injury accidents, your insurance policy should have sufficient liability limits.

Looking For Experts?

At Diego Insurance, we understand the driver’s pain. Basically, when it comes to garage insurance, auto repair insurance, company vehicle insurance, or even accidental damage insurance, we help you evaluate your options to acquire the best coverage you need.

Give us a call now at 844-450-8818, and one of our representatives will help you out!

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