Kansas business owners are required to purchase insurance for all automobiles used for the business. The insurance covers collisions and liabilities associated with operating a motor vehicle. However, for commercial business owners, the policies cover probabilities that could occur during the transport of good.
What Affects the Minimum Requirements?
The type of vehicle plays a vital role in determining the minimum requirements. If the commercial vehicle is a car or van, standard automobile insurance minimums for the state of Kansas are required. However, if it is a truck, the weight of the truck and its size could increase these minimums. Larger transport vehicles that transport goods on a regular basis would also require higher coverage requirements.
What is the Purpose of the Vehicle?
The industry in which the business operates affects insurance requirements. When the business owner purchases Commercial auto insurance in Wichita KS, they must explain how the vehicle is used by the business. The commercial auto insurance covers business uses only. It won’t cover personal use. If the business owner intends to use the vehicle for personal commutes, they may be required to purchase an additional automobile insurance policy.
What is Covered?
The nature of the business identifies what is covered under the policy. For example, if the vehicle is used by a taxi service, it covers potential collisions and the passenger’s medical requirements after an accident. It also covers liabilities associated with the passengers. For example, if a passenger leaves personal property in the vehicle, the policy covers any liability associated with this loss.
Damage to the vehicle during business operations is covered under these policies. It also covers any damage to the property of others during an accident. This includes automobiles and real properties. The coverage protects the business owner against related liabilities as well.
Commercial auto insurance in Wichita KS is needed for any vehicle used by a business. The policy is used to reduce the probability of litigation due to personal injuries. It also decreases common liabilities for the owner. To learn more about Commercial auto insurance in Wichita KS, contact Andy Woodward Insurance Agency for more information today.
