What can be added to a Business Auto Policy to cover financial risks from accidents?

Collision coverage can be added to a Business Auto Policy to address financial risks stemming from accidents involving vehicles owned or used by a business. This coverage is specifically designed to pay for damages to a business-owned vehicle resulting from a collision, whether with another vehicle or an object, such as a guardrail or tree. By incorporating this coverage, a business can protect its financial assets and mitigate the high costs associated with vehicle repair or replacement after an accident.

Liability coverage is essential for protecting against damages or injuries you may cause to another party in an accident but does not function to cover the costs associated with damage to your own vehicle. Comprehensive coverage, while beneficial for damages caused by non-collision incidents (like theft or vandalism), does not address collision-related incidents specifically. Personal injury protection primarily addresses medical expenses incurred by the insured, which does not directly cover vehicle damage.