Auto insurance is designed to cover vehicles that transport people and goods. These vehicles include cars, vans, trucks, buses, and motorcycles. However, these are not the only vehicles you will find driving down a road in Chicago, IL. Mobile equipment is primarily used on construction sites or business premises, but business owners often need to drive these vehicles on public roads for various reasons. That is why auto insurance companies offer mobile equipment endorsements to cover these vehicles in the event of a traffic accident.
Understanding Mobile Equipment
Mobile equipment is a broad category that includes all motorized vehicles typically used off-road. Golf carts, forklifts, tractors, riding lawnmowers, cranes, and earth-moving vehicles all fall under this category.
The amount and type of insurance coverage you purchase for these vehicles will depend on their size, how often you drive them on public roads, and their value. Since large equipment can cause serious accidents, you may want to consider an umbrella insurance policy in addition to an auto insurance rider. If you own multiple golf carts, a fleet insurance policy can save you money and hassle. Comprehensive coverage may be necessary for valuable equipment to protect against perils such as natural disasters and theft.
Contact NCIB Group Inc. for Expert Advice
The right auto insurance policies and policy riders can save you money and hassle in the long term. If you are unsure which type of insurance would best meet your needs, give our team at NCIB Group Inc. a call. We specialize in helping Chicago, IL, business owners from all industries find and purchase insurance coverage that fits their needs and budget.
