Corporate auto insurance covers business-owned automobiles, but the particular type of coverage in the policy will determine whether or not it covers damages resulting from a storm. Knowing what your business auto insurance covers in the case of a natural disaster is crucial, as a hurricane may inflict a variety of damage on vehicles, including water, wind damage, and debris impact.
All-Encompassing Protection for Natural Events
Usually, corporate auto insurance policies cover liability, collision, and comprehensive coverage, among many other kinds of policies. The policy ought to offer thorough coverage if it is to cover hurricane damage. Comprehensive coverage guards against non-collision-related damage, including events linked to the weather like hurricanes, floods, hailstorms, and wind damage. Subject to the deductible of the policy, comprehensive coverage will usually cover repairs or replacement of a vehicle, whether it is damaged by falling debris, storm surge flooding, or strong winds.
Exclusions and Restrainers
Review your company's corporate auto insurance policy to be sure it contains any natural catastrophe exclusions or limitations. Although thorough coverage usually covers storm damage, some policies may have limitations on particular kinds of damage, notably flooding. For instance, if your coverage excludes floods, storm surges, or rising water damage, you might not be covered. Insurance policies also often impose caps on the amount paid for a claim. Should the value of the vehicle be above the coverage limit, your company may be liable for paying the remaining repair or replacement costs.
Claiming a Loss Following a Hurricane
Should a car sustain damage during a hurricane, you should quickly submit a claim to your business auto insurance company. Make sure you thoroughly record the damage using pictures and include any required proof to back up your claim. The insurance company will evaluate the damage and ascertain whether your policy's comprehensive coverage area covers it. Remember that depending on some policies, which have a different deductible for natural disasters or "named storm" occurrences, claiming for hurricane damage could call for a larger deductible.
Extra Notes
Companies in hurricane-prone regions should wish to check their insurance before the season starts. Think about raising coverage levels, making sure thorough coverage is in place, and maybe adding extra protections like rental reimbursement, which pays for renting a car while your damaged car is under repairs.
Conclusion
Only if the coverage of the policy is extensive will corporate auto insurance cover automobiles destroyed during a hurricane. Reviewing the conditions, limitations, and deductibles of your insurance will help you guarantee sufficient defense against harm connected to hurricanes.