Commercial Auto Insurance
If your company uses a vehicle during operating hours, then additional insurance coverage can help prevent significant financial loss from accidents and lawsuits due to an incident involving a company automobile. Commercial auto insurance policies provide broad coverage for commercial automobiles, physical damage sustained and injury claims. Coverage can include any of the following:
- Automobile liability
- Collision coverage
- Garage keepers liability
- Hired or non-owned
- Fleet liability and physical damage
- Medical payments
- Motor truck cargo or transit
- Transportation or trucking
- Trailer interchange
- Warehouse legal liability
- Uninsured or underinsured motorists
Coverage Details
Commercial auto insurance coverage is designed to provide liability and physical damage protection for company vehicles, such as cars, trucks, trailers and vans used for conducting business. This insurance policy is separate from personal auto coverage. Vehicles used for industrial purposes, transporting tools or clients and errand running can all benefit from commercial auto insurance coverage.
Protecting Your Vehicles and Assets
Accidents, injuries and damage repair can all be covered by your policy in the event of vandalism, a collision or any other unforeseeable situation. Protect your company, equipment and employees from potential risks while they commute for business with a commercial auto insurance policy. Your coverage plan can achieve peace of mind for your enterprise while vehicles are being operated during business hours.
Frequently Asked Questions About Commercial Auto Insurance
Is commercial auto insurance cheaper than individual policies?
No, typically, commercial auto insurance is more expensive than an individual policy. Individual policies cover one or perhaps a couple of family cars. Although personal policies provide protection against personal injuries, collisions and medical payments, they don’t cover the type of risks faced by commercial vehicles.
Whether you are transporting goods, people or simply using your vehicle to drive to job sites, it’s important to cover every contingency. Therefore, commercial auto insurance has higher liability limits, making it a more expensive but essential part of your business insurance budget.
Will my commercial auto insurance premium change if I file a claim?
No, if you file a claim, it should not affect your premium. Typically, you would not see a change until your current policy period ends. At that time, we evaluate the history of your commercial auto policy and the activity of vehicles in your fleet. Any changes could cause an adjustment to your premium.
What is hired and non-owned coverage? How do I add it to my commercial insurance policy?
Hired and non-owned automobile insurance provides coverage for vehicles used for your business that are leased, not owned, rented, borrowed or hired. This includes cars used by subcontractors and employees while performing job-related activities. To add this insurance to your policy, speak with one of our helpful agents today.
What is garage keepers insurance?
Garage keepers insurance is tailored to provide coverage for businesses with a garage setting. The policy pays for expenses arising from covered events. If you or your employee damage a vehicle while performing professional services, garage keepers insurance will cover the cost.
What is trailer interchange insurance?
Trailer interchange insurance can enhance your commercial auto insurance if you run a trucking or motor carrier business. This insurance covers your legal liability if you or an employee damage a trailer belonging to someone else. We highly recommend discussing this specialty insurance with your agent, so you understand whether it’s a good fit for your business.
What are fleet liability and physical damage insurance?
Fleet insurance is ideal for companies that have multiple vehicles in their fleet. This policy allows employees to drive different vehicles in the fleet with equal coverage.
Physical damage insurance covers the cost to replace or repair a damaged vehicle in your commercial fleet. This policy may include comprehensive, collision and other types of coverage. Speak with your agent for details.