When a business has its commercial auto insurance policy, it can safeguard its vehicles against natural disasters such as fire, snow, hailstorm and unexpected events like theft or vandalism. Physical damage from accidental events and all liability claims arising out of such situations are not included in the traditional kind of auto insurance policy. Many types of vehicles are covered in this policy such as service utility vehicles, large trucks for goods transportation, box trucks, commercial trucks are all covered under the commercial auto insurance policy. In the unfortunate event, if one of your insured vehicles becomes involved in any accident, the resulting property damage and physical injury will be paid under this policy. In 2012, Americans spent more than $90 billion on commercial vehicle accidents as per the Federal Motor Carrier Safety Administration. So, avoiding this insurance for the later or skipping it altogether can prove to be really expensive for a business. If a business feels that it can do well even without the commercial auto insurance, it may not be a wise decision. Unforeseen events can end up making the business spend thousands of dollars in a space where having insurance would have covered any accidental or natural damage to a vehicle.
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