Commercial auto insurance is imperative for all businesses in McAllen, TX as it provides coverage for vehicles used for the business operations. Since personal auto insurance has a different set of terms and conditions that may not be suitable for businesses, a separate policy is essential to provide the requisite protection for commercial vehicles. The policy covers liabilities that are not included in the personal auto insurance.
Following types of coverage are provided by a commercial auto insurance policy:
- Comprehensive physical damage coverage: Under this coverage, the insurance provider will pay for the damage caused to your vehicle due to theft, fire, sabotage and other hazards specified in the policy.
- Personal injury coverage: If you opt for this type of coverage in your policy, the insurance company will pay for all the medical expenses of the driver and co-passengers following an accident. The policy will cover your financial expenses irrespective of who is at fault for the accident.
- Bodily injury liability coverage: The insurance company will recompense the cost of treatment for any bodily injury due to an accident caused by you. Not only this, the insurance provider also pays for the legal costs in case a lawsuit is filed against your business by the other party.
- Uninsured motorist coverage: This type of coverage provides compensation for damage caused to the vehicle by an uninsured driver. You will also be paid the expenses in case you suffer from any injuries. In certain instances, the insurance company also provides protection to the driver who is at fault provided that he does not have sufficient insurance coverage.
- Combined single limit (CSL): In simple terms, CSL is a fixed amount that the insurance company will pay for liability as well as property damage. You can select the amount of coverage at the time of finalizing the commercial auto insurance policy and file the claim in case of an accident.
- Collision coverage: Under this, you will be provided protection in the case of damage to your commercial vehicle in an accident. You will be given coverage if your vehicle hits another object such as a tree or stationary thing such as a pole, bridge or parked vehicle.
- Property damage liability coverage: The insurance company will pay all the expenses if your vehicle accidentally causes damage to another person’s property. The insurance company also covers legal costs in most cases depending on the terms and conditions of the policy.
If you are looking for commercial auto insurance in McAllen, TX, contact Smith-Reagan Insurance Agency. For details about the coverage options, you can call us at (956) 399 – 1353.