Commercial Insurance :
Commercial Auto Insurance Provides Liability Coverage to Protect your Business
Company cars are not as commonplace as they used to be, and commercial liability coverage is something you should not be without if you use vehicles for business purposes. Whatever type of vehicles you use for business, it is vital to understand commercial auto liability risks and the coverages that protect you and your business.
KEY HIGHLIGHTS:
- Your personal auto insurance policy may not cover you if you drive vehicles for business purposes
- Commercial auto exposures are very different from personal auto risks
- Commercial auto liability policies have similar coverages to personal auto policies
- Commercial auto policies cover cars, trucks, and other commercial vehicles
- A commercial auto policy covers you, your employees, and anyone who drives your business vehicles
- Commercial auto policies provide broader coverage and higher liability limits than personal auto policies
COMMERCIAL AUTO POLICY COVERAGE BREAKDOWN:
- Bodily injury liability coverage:covers bodily injury or death resulting from a commercial auto accident where you or an authorized driver caused the accident
- Property damage liability coverage: pays for accidental vehicle damage to another person’s property, and it may also include legal defense coverage
- Medical payments or personal injury coverage:pays medical expenses regardless of which driver is at fault
- Uninsured motorist coverage:pays costs for your injuries and may pay for property damage due to uninsured drivers or hit-and-run situations. This coverage may also include underinsured motorist coverage where the other driver has insufficient coverage
- Comprehensive coverage:pays for damage to your vehicle because of theft, fire, vandalism, flood, or other covered perils
- Collision coverage: covers damages to your vehicle if it hits something or an object hits it
- Rental car coverage:provides coverage for a vehicle rental while your vehicle is being fixed.
Some commercial auto policies offer a combined single limit for bodily injury and property damage that covers up to the full limit, whether the claim is for bodily injury, property damage, or both. Commercial autos keep your business going, yet they pose greater risks than personal autos.