In Kansas, business owners are required to purchase commercial auto insurance for all vehicles they operate. The policy will fulfill at least the minimum coverage requirement for auto insurance. It also reduces the impact of certain liabilities. The following are the terms and benefits of commercial auto insurance in Wichita KS.
Coverage for the Vehicle
The commercial auto policy provides coverage for medical expenses and auto repair costs for the other party. It also pays for the replacement of the commercial vehicle based on the level of coverage acquired. It will also provide coverage for expenses associated with their driver’s injuries as well.
Why Does the Company Owner Need All-Encompassing Coverage?
The business owner will need all-encompassing coverage for the commercial vehicles. This coverage ensures them that all parties are managed if an accident occurs. It also provides protection for items that are inside the vehicle. This includes cargo that was intended for a client. It will also provide a higher level of coverage in the event that a major disaster occurs due to the type of cargo that was transported.
The Limitations and Restrictions of the Policy
The primary limitation or restriction that applies to these policies is related to how the vehicle is used. The vehicle isn’t covered if the driver wasn’t performing job duties at the time of the accident. If the owner wants to use the vehicle for personal reasons, they need to acquire an additional auto insurance policy.
Controlling Premium Costs
The company can acquire better control over their premiums by preventing driver’s with a negative driving record operate their vehicles. They can also limit the use of the vehicles to lower the mileage. This could lower their overall premium costs. Additionally, they could add the policy to an umbrella policy to reduce the full cost of these premiums.
In Kansas, business owners need to evaluate commercial auto insurance to protect their investment more fully. The policies provide them with protection against the outcome of certain accidents or liabilities. Business owners who need commercial auto insurance in Wichita KS contact Andy Woodward Insurance for a free quote and additional info.
