You need commercial auto insurance in Florida if your company owns vehicles, or you use your personal vehicle for business. Florida’s commercial insurance covers many situations. It can insure a standard car used by one or more drivers for sales trips, site visits, deliveries or other business. It can also cover fleet vehicles that carry paying passengers or make deliveries, as well as vehicles outfitted with work equipment.
In Florida, commercial auto policies have the same minimum limits as personal policies. These are $10,000 in personal injury protection (PIP) and $10,000 in property damage liability coverage. PIP covers medical bills for your drivers and their passengers after an accident. Property damage liability pays for any damage to non-vehicular property (such as a fence or building) caused by your drivers.
Since Florida is a no-fault state, damage to a vehicle is covered by the insurance on that vehicle, regardless of who caused the accident. That’s why collision coverage is an important add-on to your commercial policy. Also, think about raising your liability coverage above the minimum. When a commercial vehicle is involved in an accident, the owner has a high chance of being named in an expensive lawsuit. Higher liability limits can protect your business from significant financial losses.
Many national commercial auto insurance companies sell policies in Florida. These include State Farm, Progressive, Liberty Mutual and Travelers. If you’re shopping for a policy to cover your business vehicles, compare quotes from several insurers to find the best price and coverage.
If you’re a rideshare driver, the rules are slightly different. You can purchase a combination personal auto/rideshare policy that will cover you when you are driving for work or pleasure. This should be significantly cheaper than a commercial auto policy. Currently, Farmers Insurance (through Foremost), GEICO, Progressive, State Farm, and Mercury Insurance offer rideshare insurance in Florida.
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