Commercial Auto Insurance
If you own or lease vehicles specifically for business purposes, this includes cars, trucks or vans, you need a commercial auto insurance policy.
What Is Commercial Auto Insurance?
Commercial auto insurance is liability and physical damage protection for vehicles used for business. Commercial vehicles require this specific type of coverage because they’re typically exposed to more risk than personal vehicles.
Commercial auto insurance is for more than just industrial vehicles. This type of policy covers all vehicles used for business such as cars and vans.
If you use a vehicle to run errands for your business, as a form of transportation to and from client appointments, or to carry tools or transport clients, you might also need a commercial auto policy.
What Is Covered Under Commercial Auto Insurance?
A commercial auto insurance policy may provide coverage for vehicles you own, lease, hire or use in your business as well as liability coverage for bodily injury and property damage caused to others by your use of the insured business vehicles.
Commercial auto insurance typically covers:
- Liability damages
- Collision or comprehensive physical damage
- Medical Expenses of injured occupants of the commercial vehicle
- Damages sustained by occupants of your commercial vehicle due to negligence of underinsured and uninsured motorist
To learn more about what a commercial auto policy covers, please contact us to speak with an insurance representative.
Who Should Have a Commercial Auto Insurance Policy?
If you own, lease, hire or use vehicles for business, you should obtain coverage. Commercial Auto Insurance is mandatory in some states, and many businesses are required by federal law to have this coverage if the business moves goods or people across state lines.
What Coverages Can Be Included in a Commercial Auto Insurance Policy?
With Corporate Insurance Solutions, you can customize a commercial auto insurance policy to fit your business’s needs.
Many of the coverages available include:
- Collision Coverage – covers accident-related damages to your insured vehicle.
- Comprehensive Coverage – covers non-collision related damages caused by theft, weather, fire, or vandalism.
- Rental Reimbursement – pays for a rental vehicle, up to certain limits, after a covered incident causes damage to your commercial vehicle.
- Liability Coverage – pays injury damages to others and damage to other people’s property if you are at fault, including your legal expenses.
- Underinsured or Uninsured Motorist Coverage – pays for injury damages to or property damage suffered by occupants of your insured business vehicle if the accident is caused by an inadequately insured driver.
- Personal Injury Protection – pays medical expenses and income loss for accident-related injury suffered by occupants of your insured business vehicles, regardless of fault.
- Medical Payments Coverage – pays medical or funeral expenses for accident-related injury suffered by occupants of your insured business vehicles, regardless of fault.