Commercial Auto Insurance: What Most Business Owners Overlook

Running a business in Lake Worth, FL often means depending on vehicles, whether it’s a single delivery van, a fleet of service trucks or cars employees use for sales calls. While most business owners understand the need for commercial auto insurance, many overlook key details that could leave them exposed after an accident.

Gaps in Coverage You Might Not Expect

Commercial auto policies provide liability and physical damage protection, but there are common areas business owners sometimes miss:

• Personal use of company vehicles —If employees use business vehicles outside of work, coverage may be limited or excluded.
• Hired and non-owned autos —If staff rent cars for work or use their personal vehicles for business errands, your commercial policy may not cover accidents unless this coverage is added.
• Equipment and tools —Damage to tools or equipment stored in vehicles is typically not included under auto coverage. Separate inland marine or property coverage may be needed.

Florida-Specific Considerations

In Florida, businesses must carry at least the state-mandated liability coverage, but this is often not enough to handle real-world risks. Severe weather, heavy traffic and high accident rates in Lake Worth, FL increase the potential for costly claims. Comprehensive and collision coverage, uninsured motorist protection and higher liability limits may be worth considering.

Reviewing Your Policy Matters

Commercial auto insurance is not one-size-fits-all. Factors such as how vehicles are used, who drives them and the type of cargo carried can significantly impact coverage needs. Many businesses discover gaps only after a loss occurs, when it’s too late to make changes.

Protecting Your Business on the Road

Vehicles are often central to daily operations, making proper insurance an essential investment. By reviewing your policy with a knowledgeable agent, you can reduce the risk of unexpected financial setbacks.

The professionals at New Life Insurance Multi-Services, LLC can help identify overlooked exposures and tailor a commercial auto policy to fit your business. Contact us today to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be constructed as legal advice. Please contact your insurance professional for further information.