If you own a company fleet of vehicles, or if you let your employees drive their own vehicles for company purposes, you need to make sure that you have the right Business Auto Insurance in Oklahoma City OK. The right insurance needs to provide you with both the coverage that you are required to have and the coverage that you need. Those can be two different things.
Just like with your personal auto insurance, you are also required, by law, to carry a certain level of coverage on all company vehicles. Your insurance agent should be able to let you know just how much coverage you are required to carry in your state. Coverage requirements vary from state to state.
Beyond the legal requirements, you also want to make sure that you have the right Business Auto Insurance in Oklahoma City OK to cover all your needs. You want your insurance to be large enough to protect your business if any claims are filed. In order to determine how much coverage you need, it is important to keep in mind your business’ ability to pay a settlement if you are ever sued due to an accident. If you have the right level of business auto insurance, your insurance will pay for your business’ legal expenses if you are ever sued because of a vehicle accident.
When determining your level of coverage, just like with personal coverage, you also need to determine how much liability coverage your can afford to pay. If you cannot afford to pay a large deductible, you may want to increase your level of insurance. If paying a large deductible would be easy for your business to handle, you can afford to lower your premium by choosing a larger deductible.
Remember, your business auto insurance is not just protecting your vehicles, it is also protecting your business. Without the right level of coverage, someone could sue your business and take away your assets. That is why it is so important to really think about what you need legally and what you need business wise when purchasing auto insurance for your business. You can click here to learn more about your options.
