Understanding Commercial Auto Insurance in Ocala, FL
Vehicles are essential to daily operations for many businesses. Florida companies that use vehicles to conduct business must maintain minimum amounts of auto liability coverage to comply with state laws.
Why Businesses Need Commercial Auto Coverage
A personal auto policy doesn’t extend coverage to vehicles used primarily for business purposes. If an employee is driving a company vehicle or their own car for work-related errands, your company could face serious financial exposure without appropriate commercial auto coverage.
Commercial auto insurance typically covers:
- Bodily injury liability can help cover third-party accident-related injuries if an employee causes injuries to others while driving for work.
- Property damage liability can help cover damage to another person’s vehicle or property.
- Collision and comprehensive coverage can help cover your business vehicles against damage from collisions, theft, weather or vandalism.
- Uninsured/underinsured motorist coverage can help pay for damage to your company vehicle if it is hit by someone without enough insurance.
How to Reduce Commercial Auto Insurance Costs in Florida
Commercial auto premiums in Florida can be higher than the national average due to population density, severe weather and a high rate of uninsured drivers. However, there are ways to keep your costs manageable:
- Implement driver safety programs: Encourage regular training and review driving records to minimize risk.
- Bundle policies: Combine commercial auto insurance with your general liability or business owner’s policy to receive a multi-policy discount.
- Increase deductibles: Choosing a higher deductible can reduce your monthly premium, but ensure it’s an amount your business can comfortably cover.
- Use telematics: Monitoring devices can track driving behavior, allowing you to reward safe drivers and reduce future claims.
How to Get Commercial Auto Insurance
Commercial auto insurance can help safeguard your company’s financial stability. Contact Affiliated Agency of Ocala today to review your current coverage and explore customized commercial auto insurance options.