Commercial Auto Insurance covers a variety of situations. You need Commercial Auto Insurance for any automobile, taxi, van, limo, bus or small truck that you use for business because a personal auto policy will not cover your vehicles used for business. Options and terms vary from one insurance company to another.
As a business owner, you can get commercial vehicle coverage for a single vehicle or a fleet of vehicles. A commercial auto policy can include several different types of optional coverage, allowing you to choose the coverage amounts (“limits”) and deductibles to adjust the policy coverage to your particular business circumstances and the use of your vehicles.
Property damage liability.
Comprehensive coverage for damage other than collision.
Loading and unloading liability.
Collision coverage for costs associated with an accident, regardless of who is at fault.
Substitution transportation when your commercial vehicle is being repaired and you use a loaner from the repair shop.
Medical payments coverage for the cost of hospitalization, treatment and funeral expenses.
Non-owned auto coverage for when you or your employees drive a rented or borrowed vehicle.
Personal injury to you, your employed drivers or passengers including medical expenses and lost wages.
Liability for bodily injury to others.
Optional bodily injury coverage for injuries that occur outside of the state in which you reside.
Towing and labor costs.
Uninsured and underinsured motorist coverage.
For larger commercial vehicles such as tow trucks, cement trucks, construction vehicles, tractor trailers or semi-trucks, you will need a commercial truck insurance policy. Not only is your commercial vehicle policy critical for protecting your business financially, but it is required by law. Our agents will review your specific needs and offer coverage options to fit your business.
The category of commercial trucks involves several types of large vehicles, including:
Car Haulers and Auto Trailers
Semis (tractor-trailers or 18-wheelers)
You can find insurance for just about any type of commercial trailer, including:
Dry Van Trailers
Agricultural trailers, such as grain trailers
Oil Field Trailers
Auto Hauler Trailers
Commercial truck insurance comes with several types of coverage, each of which is specifically designed to protect your business and your personal assets from catastrophic loss.
Covers your liability risks in the event that you or one of your employed drivers causes an accident. Your commercial truck liability will include bodily injury liability to cover the costs of injuries and medical expenses for the injured party, and property damage liability to cover the costs of property damage in an accident. Your commercial truck liability insurance will typically also cover the costs of legal defense, whether or not your company is found to be at fault in an accident.
Covers the costs of damage to your vehicle from an accident or other incident. This coverage includes both collision coverage to pay for damage from a crash as well as comprehensive coverage to pay for damage from theft, vandalism and ``other than collision” causes.
Covers the costs of injuries and damages if you or one of your employees is in an accident where another driver is at fault, but that driver does not have adequate coverage to pay for your injuries and property damage.
Covers damage or theft of items your truck is hauling. In addition to these types of coverage, you will have many other options as you structure your policy to cover your specific concerns.
Many business owners choose to buy a commercial umbrella policy to cover lawsuits as long as you have the appropriate business liability insurance for your situation and enough liability coverage. This strategy can provide much higher limits, in $1 million dollar increments.
Certain liability exclusions also apply, such as if an injury or damage was expected, or was caused intentionally. Some policies also have something called “workmanship” exclusion, and some exclude coverage of punitive damages. Liability insurance is available in many different forms, including: General liability, Professional liability, “errors and omissions” and malpractice.