You want to insure your Kentucky business appropriately, which might mean obtaining a commercial auto insurance policy. After all, your company vehicles are worth a lot of money, and they need to be protected no matter where you travel within the Bluegrass State or beyond. Commercial auto insurance is required in Kentucky, but not all plans are created equal. It’s critical to have a customized plan whether you own a fleet, operate a single company car or allow your employee drivers to use their own vehicles for business purposes.

Still, you shouldn’t rush into buying a policy just for convenience’s sake. Rather, when buying coverage, take a step back and really examine the options available to you. Don’t make the following mistakes when purchasing your commercial auto plan:
#1: Focusing on Cost, Not Coverage
If you operate vehicles as part of your business, then you’re required to purchase minimum levels of commercial auto insurance to comply with both Kentucky and federal laws. These are often among the lowest-priced policies available, but the coverage provided might not be enough to allow you to fully protect financial interests that could be lost to vehicle accidents.
When choosing your plan, ensure the policy can cover all aspects of potential losses and provide your business with replacement vehicles as needed. Keep in mind that buying higher coverage limits may qualify you for discounts on your premium, including discounts related to a lack of claims or owning multiple policies.
#2: Ignoring Fleet Coverage
Many insurance providers offer coverage that extends to an entire fleet of vehicles. If you have two or more vehicles, you may qualify for this type of plan. Often, this is a cheaper coverage option when compared to trying to insure vehicles separately. Because it covers numerous vehicles simultaneously under one policy, it can be more affordable than covering vehicles individually.
#3: Declining Full Liability Protection
Having the right amount of commercial auto liability insurance is often one the biggest concerns for a business. Though all vehicles are required to have certain levels of liability insurance, this coverage is generally a fraction of what businesses truly need to minimize risks. If your delivery truck hits a pedestrian, for instance, you could possibly be sued for a sum that is well beyond the limits associated with a basic policy. Just the risk of these lawsuits occurring can make comprehensive protection nearly always beneficial.
Commercial auto insurance is a valuable form of business insurance that almost any Kentucky business can benefit from. Invest time into finding the right level of coverage for your specific needs. Doing so can help save you money down the road.