If you are a company owner who employs CDL (Commercial Driver's License) holders or a commercial driver, you must be aware of the insurance requirements as they pertain to all employees who drive trucks for a living. |
Every state is permitted to set its own commercial auto insurance standards. The laws in each cover a variety of matters such as the minimum coverage required for bodily injury liability and property damage liability. Some states also mandate other types of motor vehicle insurance as well.
Federal CDL requirements apply to all drivers of commercial vehicles, no matter where they live. These requirements govern laws associated with written and skills testing, driver licensing, physical fitness, traffic violations, minimum age limits, and the transporting of hazardous materials. Before you obtain your CDL, you must become familiar with what you require at both the state and federal level in terms of insurance.
As a company owner, protecting your fleet of vehicles means being financially responsible for the ones you own. Even if you run a small operation and only have one or two vehicles for business purposes, it is wise to get this coverage because it will offer financial protection for your cars or trucks. The type you purchase will depend upon the kind of business the automobile is used for. Once you obtain commercial auto insurance, keeping it current at all times is essential.
You may wonder why you need vehicle insurance in the first place? Companies are at risk of numerous kinds of losses. One of the main losses that can take place is when transporting goods or services from one location to another.
There is always the risk of being involved in an accident, which could leave the driver injured and the products damaged. There is also the potential for vandalism or of being hit by an uninsured driver. In all of these possible scenarios, repairing your damaged automobile will require you to pay the expenses out-of-pocket. If the incident is serious enough, this could potentially bankrupt your company. However, by getting the proper insurance coverage, you will be able to get your car repaired without having to spend that much money of your own.
Figuring out what commercial auto insurance will fit your company is something that a qualified insurance representative should be able to assist you with. After discussing your needs, the agent will direct you to the right type of policy to cover the vehicles you use for your business.
As you look for coverage, keep in mind how much of a deductible you will be required to pay and how much your premiums will be. You also need to be made aware of how much the policy will cover you for. Look for a plan that includes collision coverage, coverage for uninsured and underinsured motorists, comprehensive coverage, rented vehicle coverage, payments for medical bills, and employees using the commercial business coverage.
In need of commercial auto insurance, Louisiana? We've got the experience to get you the coverage you need, at a price you can afford. For more information please visit our website at http://www.americantruckinsurance.com.
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