The Importance of Commercial Vehicle Insurance

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The Importance of Commercial Vehicle Insurance
Protect Your Business and Yourself
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• ?The cost of commercial vehicle insurance can
  seem intimidating for small businesses. The
  initial sticker shock is enough to make even the
  most ambitious entrepreneurs second guess their
  business plans. After all, who wants to spend
  thousands of dollars on something so unnecessary?
  Fortunately, commercial vehicle insurance isnt
  as needless as it may seem at first glance. This
  type of policy protects both you and your
  business from a variety of perils related to
  operating a commercial vehicle for profit.
  Without the right coverage, you and your business
  can be held liable for damages that could have
  been covered, which can put you in financial
  jeopardy. To help you understand the importance
  of commercial vehicle insurance, this blog post
  will cover topics like

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Why is Commercial Vehicle Insurance Important?

• All insurers are not created equal in fact,
  quality varies widely. If you pick the wrong
  insurance company, you could be stuck with
  limited coverage, high premiums, and a lot of
  frustration. If you have a commercial vehicle
  policy with a quality insurance company, you can
  expect the following benefits - Expert claim
  service - Commercial vehicle insurance claims are
  handled by experts who understand how to navigate
  the complex world of insurance. - Comprehensive
  coverage - Commercial vehicle insurance provides
  a wide variety of coverage options tailored to
  fit the needs of commercial drivers. - Convenient
  payment options - You can typically set up
  automatic payment from your checking account to
  make sure you always have the protection you
  need. - Competitive rates - Unlike with personal
  auto insurance, commercial vehicle insurance
  rates are based on your businesss risk, not your
  personal driving record.

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Liability Protection

• Commercial vehicle insurance provides protection
  against bodily injury and property damage claims
  that might be brought against you. Without this
  coverage, you could be held financially
  responsible for damage done to another person,
  their property, or even yourself. The liability
  coverage offered by commercial vehicle insurance
  will help to cover the cost of repairs, medical
  bills, and any other damages that occur as a
  result of the accident. If someone brings a
  bodily injury lawsuit against you and they win,
  they can attempt to collect damages in the form
  of money. Liability coverage helps to pay for
  those damages youre found liable for.

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Commercial Vehicle Insurance Helps With
Employment Practices Liability

• The employment practices liability coverage
  portion of your commercial vehicle insurance
  policy helps protect your business against claims
  related to discrimination, wrongful termination,
  and other employee relations issues. Without this
  coverage, your business could be liable for any
  settlements or judgments if you were sued for
  violating employee rights. If youre hiring
  drivers for your commercial vehicle, you should
  be aware that youre required to run their
  driving records. This can be a problem for those
  with a poor driving record, as even one ticket
  with a hefty fine can make the difference between
  getting behind the wheel and having your
  commercial vehicle insurance application rejected.

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Commercial Vehicle Insurance Helps With Bodily
Injury and Property Damage Claims

• Bodily injury and property damage coverage help
  to cover the cost of medical bills and repairs to
  other peoples property. Without commercial
  vehicle insurance, you could be held financially
  responsible for these costs. In some cases,
  bodily injury and property damage coverage can be
  used to cover your own expenses, such as medical
  bills after an accident. This coverage can also
  help pay for legal fees if you need to mount a
  defense against a claim.

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Collision and Smash Repair Coverage

• The collision and smash repair coverage in your
  commercial vehicle insurance policy helps to
  cover the cost of damage to your vehicle. If an
  accident occurs, this coverage can help pay for
  repairs to your vehicle so you dont have to come
  out of pocket for the payment. This coverage is
  important for all commercial vehicle owners, as
  accident damage to a vehicle is a common
  occurrence. Depending on the severity of the
  accident, the collision and smash repair coverage
  offered by commercial vehicle insurance can help
  you avoid thousands of dollars in repair bills.

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Conclusion

• Commercial vehicle insurance is necessary for any
  business that uses a commercial vehicle in their
  daily operations. A commercial vehicle insurance
  policy helps protect you and your business from a
  wide variety of risks. If you dont have
  commercial vehicle insurance, you could find
  yourself on the hook for significant expenses.
  Make sure you understand the coverage types and
  amounts offered by commercial vehicle insurance
  to ensure that youre adequately protected.
• To know more about Bonano Insurance, visit
  https//www.bonanoinsurance.com/