Whether a business operates a fleet of vehicles or leases a single truck, it is important to purchase truck insurance. This will not only protect assets but is also required by law. Truck Insurance Companies in New Berlin, WI go into detail about different coverage types offered by commercial auto or truck insurance policies. This is a guide that can be followed if it is time to make decisions for a business.
Liability Converge
There are two types of liability coverage: property damage and bodily injury liability. According to the law, businesses must purchase minimum accounts of both to operate a motor vehicle. Bodily injury liability pays the medical expenses of other motorists injured in an accident that is deemed to be the fault of the person driving the company vehicle. Property damage liability covers the expenses associated with the repair or replacement of a vehicle, real estate, or personal property damage when an employee is at fault for the accident. This will also cover the legal fees to defend any subsequent lawsuits.
Collision Damage
Collision coverage reimburses the company for the cost to repair the vehicle after an accident on the road. This could be simply sliding off the road or a multi-vehicle wreck. This covers bodily damage as well as mechanical work. If the vehicle is leased or has a lien with a lender, the dealership or bank may require that collision damage be purchased to cover the vehicle while they have an interest in it.
Theft and Fire
The comprehensive coverage protects against losses not related to a collision. These include theft, vandalism, and fire. Full coverage is not required by law but is recommended to protect the investment. However, in the case of a lease or car loan, it will be required.
Those that are ready to discuss their options with Truck Insurance Companies in New Berlin, WI can call on P & C Insurance Services Inc. They are a one-stop destination for comprehensive insurance solutions. They offer customized business insurance plans with the best rates and same day coverage. Visit the Website to get additional information or to schedule an appointment to discuss the specific needs of the business.
