Commercial Auto Insurance, also known as Business Auto Insurance, is a very important component of your commercial insurance package. Commercial Auto Insurance provides coverage for cars, trucks and other vehichles used for business purposes and is required by law in most states. Business vehicles are not covered by other policies like general liability, business owners policy or personal auto insurance, so it is imperative that you maintain separate Commercial Auto Insurance policy.
When selecting a Commercial Auto Insurance policy there are many factors to consider. Commercial auto policies are designed based on the number of vehicles and drivers to be insured, so fleet insurance may be a less expensive alternative for companies with multiple vehicles and drivers.
Another consideration is “commercial use”, which is excluded on personal auto policies. A Commercial Auto Insurance policy will establish the definition of commercial use, as it relates to your business, and will establish the coverages you need. When setting up your commercial auto policy, be sure to list the full name of your company as an insured, the titled owner of the vehicle, any affiliates, DBA and list all employees who will be operating company vehicles as insureds.
Commercial Auto Insurance premiums are determined by a number of factors including deductibles, location of your business, driving records of vehicle operators, type of vehicles insured and safety and anti-theft devices installed in your vehicles. Most Commercial Auto Insurance policies offer some combination of the coverages listed below. Costs and coverages will vary by state and policy limits may apply to some types of coverages.
Pays for physical damages to a vehicle for losses caused by a collision.
Pays for physical damages to a vehicle for losses caused by events like theft, fire, riot, glass breakage, hail and windstorms.
Pays medical expenses that directly result from an auto accident.
Protects against financial losses is you are held legally responsible for an automobile accident that causes death or injury to another person. Typically includes the legal defense expenses, bail bond and court costs.
Property Damage Liability
Protects against financial losses if you be found liable for damage caused by your automobile to other partie’s physical property.
Uninsured Motorist Bodily Injury
Covers death or bodily injury costs for you and passengers in your vehicle if hit by an uninsured driver or if you are involved in a hit-and-run.
Uninsured Motorist Property Damage
Covers damages to your vehicle if hit by a driver with no insurance, involved in a hit-and-run or a driver whose property damage liability limit is not enough to cover damages.
Pays benefits for the death or injury to you and your passengers when an accident is caused by a driver who inadequate insurance to cover the losses resulting from the accident.
Personal Injury Protection (No-Fault)
Covers the cost of personal injuries that result from an auto accident, regardless of fault. This coverage applies to injuries only.
Selecting and purchasing the right commercial auto insurance policy can be easy when you work with the right team. We understand that your business is unique and requires specific protection. Call us at (800) 763-0698 or complete the form on this page for your free, no obligation Commercial Auto Insurance quote.