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Buyer Guide to Auto Insurance

 

Whether you have one company car or a fleet of vehicles, commercial auto insurance is a necessity to keep your business from falling into a financial nightmare should one of your employees be involved in an accident.
 
While all 50 states require business owners using company vehicles to have commercial auto insurance, the extent of coverage will depend on who is behind the wheel and what your state mandates.
 
Statistics bear out that there is a good possibility one or more of your employees will be involved in a company vehicle related accident during their tenure with you.
 
According to the National Highway Traffic Administration (NHTA), 43,000 or more of Americans die due to severe car accidents and approximately 2.9 million people suffer from injuries every year.  Even more disturbing, the person they’re involved in an accident with may very well not be covered.
 
Nationwide, chances are approximately one in seven that a driver is uninsured, according to recent estimates from the Insurance Research Council (IRC). The estimated percentage of uninsured motorists dropped four consecutive years prior to rising to 14.3 percent in 2008 and falling to 13.8 percent in 2009. The economic downturn is looked at as a major factor in the brief increase.
 
With countless uninsured drivers taking to the nation’s roads, businesses need to be sure that all employees and company-owned vehicles are properly insured no matter which state they are doing business from.
 
In 2009, the three states with the largest uninsured driver estimates were Mississippi (28 percent), New Mexico (26 percent), and Tennessee (24 percent). The three states with the lowest uninsured driver estimates were Massachusetts (4.5 percent), Maine (4.5 percent), and New York (5 percent),

 

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