When you buy commercial auto insurance, you want to maximize the financial support you might receive following an accident or other driving challenge. Benefits like collision, comprehensive, liability and uninsured/underinsured motorist coverage will provide this assistance, but simply assuming standard benefits will cover you is not the right thing to do.
At times, you will need to add several extra benefits into your commercial auto plan in order to maximize the perks available. Let’s take a closer look at some of the add-on benefits that you might find helpful to have on hand for a rainy day.
Add-On One: Gap Coverage
Gap insurance will allow you to pay the difference between your settlement and the remaining loan cost.
Add-On Two: Roadside Assistance
Company vehicles can break down from time to time, and whether it’s an empty gas tank, dead battery or flat tire, these issues can be big inconveniences. If you or one of your drivers get caught in this situation, then you naturally will want easy access to assistance. A roadside assistance benefit will allow your insurer to dispatch an approved service provider to your location, usually at no charge, and they can have you back on your way in no time.
Add-On Three: New Vehicle Replacement Coverage
Should one of your company vehicles get totaled in an accident, you will want to replace it. This coverage will ensure that your policy pays you the amount of money necessary to buy a new model for the same vehicle.
Add-On Four: Rental Reimbursement
Sometimes, you will need to rent a vehicle if one of your fleet vehicles is being repaired after a covered insurance claim. This coverage can supplement those costs to lessen your own burden. This coverage does not cover if a vehicle is being repaired for routine maintenance.
Before buying any add-ons for your policy, you need to inspect the terms of your existing coverage. Some policies will already include these benefits, and you won’t need add-ons as a result. Still, once you have your base policy in place, chances are that your fleet—and anyone driving for your business—could use some extra coverage.
Get the best commercial auto insurance policy options available. Contact AJ Gambardella Insurance today to get started.