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Commercial auto insurance helps protect your business if you or an employee get into an accident while driving a company-owned vehicle for work. Commercial auto insurance, known as commercial vehicle coverage or commercial car insurance, can help pay for costs if there’s physical damage to property or medical expenses related to the accident.
This business insurance coverage will keep employees who drive company vehicles covered on the road. If you’re still wondering what commercial auto insurance is, we can answer your questions and walk you through our policy.
What Does Commercial Auto Insurance Cover?
Commercial auto insurance can help cover property damage or medical expenses related to an auto accident that occurred while you or your employee were driving a covered company vehicle for business.
What Coverages Are Included in a Commercial Auto Policy?
To get a better understanding of what business auto insurance is, it’s important to know what types of coverage are included in a policy. There are different types of coverage available to business owners with a commercial auto policy, including:
- Bodily Injury Liability Insurance: This liability coverage can help pay for medical expenses if the other driver is injured and needs medical attention.
- Property Damage Liability Insurance: Helps pay physical damage that you or your employees cause to someone else’s property.
- Collision Coverage: This covers the cost to fix or replace your covered business vehicle if you hit something, like another car or a pole.
- Comprehensive Coverage: Pays for damage to your car caused by a theft, fire or natural disaster.
- Medical Payments Coverage: Can help pay the medical costs for your employees and their passengers in the event of an accident, such as medical treatments and rehabilitations, dental care or funerals.
- No-Fault or Personal Injury Protection (PIP) Coverage: This coverage can help pay the costs of medical expenses, lost wages or funerals after an accident, no matter who is at fault.
- Uninsured/Underinsured Motorist Coverage: This coverage helps pay for you or your employees’ medical expenses, or to fix your car if the other driver lacks enough liability coverage.
- Rental Car Coverage: Offers liability coverage while you or your employees are driving a rental vehicle for business reasons. Most rental companies have loss damage waivers or a collision damage waiver that you can sign to avoid paying for property damage to a rental car.
- Hired and Non-Owned Auto Insurance: This coverage offers lawsuit liability coverage if you or your employees are involved in an accident with a personal, rented or leased car that was used for business errands. However, this type of commercial vehicle insurance coverage will not cover damages to the personal, rented or leased car.
Other Recommendations Not Included in Commercial Auto Coverage
Some recommended commercial auto coverages not included in a commercial auto insurance policy, include:
- Roadside assistance, which can help cover you if you get a flat tire, have a dead battery or lose your keys.
- New vehicle replacement coverage to pay for a new car if you total yours in a car accident. We’ll replace it with a new vehicle of the same make, model and equipment without subtracting anything for depreciation.§§
- Drive other car coverage, which is an endorsement to your commercial auto policy that can help extend your liability insurance, uninsured/underinsured motorist insurance and physical damage insurance.
What Types of Vehicles Are Covered by Commercial Auto Insurance?
- Company-owned and operated vehicles
- Hired and non-owned vehicles
- Box trucks
- Work vans
- Service utility trucks
What Is Not Covered by Commercial Auto Insurance?
Commercial auto insurance does not cover:
- Medical expenses that are unrelated to an accident that happened while an employee is driving a company vehicle.
- Contents inside a vehicle that are damaged in an accident.
- Accidents that occur in a personal vehicle when an employee is driving for personal reasons.
- Repairs to a rental vehicle that you or your employees are driving while waiting for your company vehicle to be fixed after an accident.
Your commercial auto insurance policy is important for protecting your employees while they drive on the job. For work-related injuries or illnesses that occur on the job while employees are not driving, you’ll need a workers’ compensation policy. This coverage can help pay for employees’ medical expenses, and help protect you if you are sued by an employee.
Who Needs Commercial Auto Insurance Coverage?
If your business owns, leases or rents any vehicles, such as trucks or cars, you should consider commercial auto insurance. Commercial auto insurance also protects your business and employees if they own vehicles for business purposes. In addition, if your business has employees who operate leased, rented or owned company vehicles, it’s a good idea to consider commercial auto insurance for your small business.
Although coverage availability and requirements will vary by state, there’s many different types of businesses that can benefit from having commercial auto insurance, including:
- Landscapers
- Technology Specialists
- Engineers
- Photographers
- Contratistas
- Caterers
- Wholesalers and Distributors
Learn more about how to decide if you need commercial auto insurance.
Common Questions About Commercial Auto Coverage
What Is the Main Difference Between Personal and Commercial Auto Insurance?
Personal auto insurance offers coverage for your personal vehicles being driven for personal use, while commercial auto insurance covers your owned vehicles being used for business reasons. Typically, all your business employees with valid licenses would receive coverage under a commercial auto policy as additional insureds. Also, the commercial auto policy usually offers more comprehensive coverages, like higher limits and liability coverages that you won’t see with a personal auto policy.
Why Is Commercial Auto Insurance Important?
Commercial auto insurance can help cover the costs of repairs and medical expenses if you or one of your employees get into an auto accident, regardless of who is at fault. A commercial auto policy from The Hartford offers customized coverages like rental reimbursement and coverage for uninsured or underinsured motorists.
What Is Commercial Vehicle Insurance?
Commercial vehicle insurance is another name for commercial auto insurance that insurance companies and agents may use.
Why Is Commercial Vehicle Insurance So Expensive?
Commercial vehicle insurance costs more than personal auto insurance typically because it offers higher levels of coverage and can protect you from higher cost claims. Some other factors that can influence the cost of commercial auto insurance include the size of the commercial vehicles, including larger more expensive engines/parts, higher risk of damage and higher limits/coverage.
Is My Trailer Covered by Commercial Vehicle Insurance?
Tractor trailers are covered by commercial auto insurance. This policy can help protect you and your employees while they’re out on the road. The price of your commercial auto insurance for your tractor trailer will depend on factors like your:
- Lugar
- Type of load
- Employees’ driving records
- Type of truck
What if I Need Specific Liability Limits as Part of a Contract?
Our specialists can help customize your commercial vehicle insurance to fit your needs. We can help you get increased liability coverage limits.
How Many Types of Limits Are Found in a Commercial Auto Policy?
We can help walk you through any coverage limitations and details of each policy. So, whether you’re cleaning up leaves on a customer’s lawn or driving to deliver a load of mulch to a local business, we’ve got you covered.
Who Is Covered To Drive My Commercial Vehicle?
Commercial auto insurance covers the business owner and any employees who drive your company-owned vehicles for business purposes. Family members are typically not covered under your commercial auto insurance policy if they’re not employees at your business unless they have your permission as the insured to use the vehicle.
If you’re still unsure whether you need commercial auto insurance or it’s right for your business, we’re here to help. Speak with one of our representatives at 855-860-9763 para obtener mayor información.
What Type of Commercial Auto Policy Would Best Suit a Taxi Company?
The insurance you need for taxi drivers varies from state to state. In most cases, you’ll need livery insurance, which is a type of commercial auto insurance for a taxi company. This coverage can help provide financial protection to your business. It covers the driver and passenger if they’re in an accident while in your taxi.
Get a Quote for Commercial Auto Insurance
We know that all business owners face risks. We can work with you to customize your policy to meet the needs of your business. Get a commercial auto insurance quote to learn how you can protect your business and commercial vehicles while on the road. Llame al 855-860-9763 today to get your custom quote.
Última actualización: 28 de junio de 2024
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