COMMERCIAL AUTO INSURANCE
If you live in Florida and own a business that requires the use of a vehicle, it is important to know which Florida commercial auto insurance is the right one to meet not only the Florida state requirements but the needs of the business’s various vehicles. Unfortunately there are too many uninsured drivers in the state of Florid so making sure your commercial vehicles are protect is extremely important.
The first thing to know is what exactly the regulations and laws are for commercially insured vehicles. Since Florida is one of the many no fault states it requires commercial vehicles to have coverage that has $10,000 of Personal injury protection and property damage liability of no less than $10,000.
It doesn’t’ matter who is at fault, everyone is responsible for paying the first $10,000 for their own medical bills before going after the party at fault. This is what the PIP pays for in the Florida commercial auto insurance policies.
The PIP pays 80% of medical bills, 60% for lost wages and a death benefit up to $5000. Under the Florida commercial automobile insurance policy, the maximum limit that is payable is $10,000. The Bodily Injury Liability covers any injuries your commercial vehicle has caused to others, it also pays for the legal expenses brought about should a lawsuit occur due to those injuries.
Because there are many uninsured drivers in Florida, the uninsured motorist part of your commercial auto insurance will pay the medical expenses for employees or others who may be in your commercial vehicle should it be hit by someone who does not have auto insurance
Having comprehensive commercial auto insurance in Florida however is not simply recommended it should be very seriously considered. The comprehensive coverage can make sure things like a vehicle breaking down, getting a broken windshield or needing to be towed are covered, which can in many instances save your business a lot of money and prevent what could be a profit loss.
Among the comprehensive type coverage available through the Florida Commercial Automobile Insurance, it is important to have is gap coverage, since call claims are paid on actual devalued cash value basis if you owe more than what the vehicle is worth the gap coverage will take care of the differences.
Finding the best commercial automobile insurance is a must do for any business that utilizes vehicles, whether they are employee used vehicles or those used in providing a service such as taxi cab, limousine or other type of travel assistant services.
At the very least you will want to get the minimum but it seriously can impact a business budget to not have as much insurance possible to ensure an unforeseen accident, especially one caused by someone else who is under insured or uninsured.