THURSDAY, MAY 20, 2021
When a commercial driver is in an accident with your business’s vehicle, you can easily appreciate having commercial auto insurance in place. It can help cover the losses you suffer from your vehicle’s damage. It also helps you cover losses related to the other driver. Sometimes, you may end up in court as well due to liability claims. Will auto insurance help you then, too?
When an Accident Occurs
As a business, you are at a higher risk of paying larger claims as a result of injuries and property loss caused to other people.
For example, if your commercial truck causes damage to a passenger vehicle, you may be more prone to facing larger liability claims. Consumers are more likely to take steps to file a claim with commercial auto insurance policies for larger losses. That is just one of the reasons to have comprehensive commercial auto insurance. Every policy has its limits, but most commercial auto insurance policies should offer a significant amount of coverage to you per accident.
When They Do Not Settle
There are instances in which the driver of the passenger vehicle will not settle the claim. This may occur because they do not believe they are receiving adequate compensation for their losses. Pain and suffering claims, for example, are harder to prove, and many times, insurance companies deny them. In this situation, you may end up in court.
Any time you are facing a claim like this, work with your insurance agent to understand your options.
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NOTICE: This and all content is developed from sources believed to be providing accurate information.
The information in this material is not intended to be used as tax or legal advice. Please consult with a tax and/or legal professional
for detailed information regarding your individual situation. Some of this material was developed and shared by Riverside Insurance Agency, Inc. to provide information
that may be of interest. Riverside Insurance Agency, Inc. is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm.
The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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