When you also have equipment or operate from an office
All Basic plan benefits and:
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
General Liability insurance provides your vehicle leasing business with protection against a variety of claims which may include bodily injuries, personal injuries, advertising mistakes, libel, slander, and other related risks. The insurance pays for the defense and court fees including out-of-court settlements.
A Business Owner's Policy combines commercial property insurance and general liability insurance in one convenient policy. It's not a one-size-fits-all policy, instead, it's tailored to the needs of your business. You can add more coverage, thereby saving you more on insurance costs.
Product Liability insurance protects your business against claims of property damage or bodily injury caused by defective products. Product Liability insurance covers the legal fees, medical costs, and business damages.
Protecting your business vehicles isn't the same as protecting your personal auto. That's why you need commercial auto insurance, as this has higher limits and better coverage for accidental loss or damage including liability coverage, uninsured motorist coverage, and physical damage coverage.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
This industry consists of companies that lease passenger cars. Drivers are not provided.
Insurance is important as it can save your vehicle leasing business from financial catastrophe if something goes wrong - and anything can go wrong. Insurance powers your growth by securing your income when an unforeseen incident happens. It handles the costly lawsuits, pays for the damaged vehicle from an accident, complies with the state laws and, more importantly, helps your business to get more clients.
Below are some common risks your vehicle leasing business can face:
A customer claims that the vehicle you leased them is faulty and has caused them to pay a great amount for the repairs of the vehicle. They want to get their money back so they sue your business for the costs.
A storm has struck your place and causes heavier floods than what your area normally has. This causes most of the vehicles in your showroom to get flooded.
The cost of insurance for vehicle leasing varies. The cost mostly relies on the size of your business, the services you offer, and the number of employees you have. Without taking any of these into account, below is the average cost of insurance for your business:
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