Commercial Auto Insurance
Commercial Auto Coverage Information
If your company uses vehicles for business purposes, you want commercial auto coverage. Whether you lease, rent or own your business’s vehicles, commercial auto coverage can help give you protection for any vehicle damage, property damage or driver injuries sustained while driving a vehicle for business. This coverage can typically insure cars, trucks, vans, cabs, school buses and tractors, among others.
What’s the Difference Between Commercial and Regular Auto Insurance?
Typically, a personal auto insurance policy (e.g., the type of insurance you or an employee may have for their personal vehicle) doesn’t cover business-related driving sufficiently, making commercial auto insurance crucial.
A personal auto policy usually covers one person driving their own vehicle, whereas commercial auto coverage covers an entire business. That may include numerous drivers, multiple vehicles, and even employees with poor driving records. Blackmore Rowe Insurance can review your current coverage to determine if policy changes should be made.
What Are the Types of Commercial Auto Coverage?
Numerous policyholders choose to add endorsements to their policies, customizing their policies. Additions may include roadside assistance coverage, new vehicle replacement cost coverage, towing reimbursement, rental reimbursement and gap coverage for auto loans or leases. Your business can choose from various coverages; nonetheless, the most common types include:
- Liability coverage may cover repair costs for the other person’s vehicle or property. Coverage may also include coverage for the legal fees associated with a lawsuit for personal injury.
- Comprehensive coverage can offer complete protection for damages unrelated to an accident, such as losses due to theft, floods, vandalism or fire.
- Collision coverage may cover vehicle repair costs if an insured vehicle collides with another vehicle or object. This coverage may also help with vehicle replacement for a totaled vehicle.
- Medical payment can offer passengers and drivers coverage when they need medical care due to an accident.
- Uninsured motorist coverage can provide coverage if an uninsured driver hits a business’s vehicle and injures its driver and passengers. Some uninsured motorist coverage also covers damage to a company vehicle.
What Is Covered Under a Commercial Auto Policy?
What’s covered under a commercial auto policy may vary based on the coverages and limits you select. If you or one of your employees uses a company vehicle and causes an accident that injures someone or damages their property, a claim may be filed on your policy. Your liability coverage should pay damages on the claim up to the policy limit. But you or your business may be responsible for damages above your policy limit.
Liability insurance may also cover the costs to defend yourself or the vehicle’s driver if an accident-related lawsuit is separate from your policy limit.
Is Commercial Auto Insurance Expensive?
Commercial auto coverage is typically more expensive than regular auto insurance because the business has a higher liability risk and property damage claims if it transports goods or people for money. The cost of your commercial auto insurance can depend on a variety of factors, including:
- Your business’s size
- Quantity, prices and types of vehicles
- Number of employees driving company vehicles
- Your business and driving risks
- Employees’ driving records
- Amount of coverage
How to Get Commercial Auto Insurance
If your business needs commercial auto insurance, we’re here to help. Contact Blackmore-Rowe Insurance Agency today for a quote or to discuss your commercial auto insurance needs.