Does Commercial Insurance Cover My Company Vehicles?

Controlling risk is critical to small business owners who lack the resources of a parent company, so it is good business to use insurance to help manage your risk. Of course, using insurance to manage your business risks requires understanding what your commercial insurance does and does not cover. If you own a small business and want to understand your commercial insurance options better, contact The Select Insurance Agency team in Coppell, TX.

Commercial Versus Commercial Vehicle Insurance

Commercial insurance handles various business risks and is often purchased cafeteria-style. Core commercial insurance policies generally cover commercial property, general liability, and workers’ compensation. Many businesses acquire additional coverage to address risks common to their industry, profession, or range of assets. Commercial vehicle insurance covers motor vehicles used for business purposes and does not automatically come with most commercial policies. Your business needs commercial vehicle insurance if you use motor vehicles as part of conducting your business.

Many small business owners think their personal auto policy covers their risks when using their personal vehicle to take a client to lunch or when an employee uses the owner’s car to make a delivery. However, your personal policy does not cover damage or injuries to others while used for business purposes. Insurance companies may unknowingly cover a fender bender in that circumstance. Still, accidents that result in substantial liability are investigated more thoroughly and not covered when the investigation determines the vehicle use was business-related.

Working with The Select Insurance Agency

The Select Insurance Agency is dedicated to handling small business owner’s business and personal insurance needs in the Coppell, TX, area. Stop in, email, or call us today at (972) 315-7299 to build an insurance plan that protects your business and personal assets.

Important Records for A Workers’ Compensation Insurance Claim

Your responsibility is to keep accurate records of injuries that occur within your business premises. You are required to review these records periodically, as they are necessary to file a workers’ compensation insurance claim.

Workers’ Compensation

Workers’ compensation insurance safeguards your best interests as a business owner. Once claims are approved, they provide the deserving workers with the required compensation during their recovery period after an injury.

Incident Report

An incident report must be completed as soon as an injury is reported. It should detail the type of injury sustained and the time of the incident. The report should also clarify the protocol followed immediately after the injury was documented.

It may be necessary to provide a copy of each incident report when filing a workers’ compensation insurance claim. Secure storage of these reports facilitates easy retrieval of information required for insurance paperwork submission to your provider.

Medical Documents

An injured employee must receive treatment from a medical doctor. The doctor will record relevant information about the diagnosis and treatment plan.

These medical documents must be submitted when an insurance claim is filed. If an employee needs ongoing treatment, this information must be reported to the insurance provider.

The submitted medical documents will validate an insurance claim. They have a significant role in determining if an employee will be granted workers’ compensation benefits.

Contact The Select Insurance Agency

Feel free to contact our agent who serves Coppell, TX. One of our friendly agents from The Select Insurance Agency will provide you with additional information about workers’ compensation policies and insurance claims.