Commercial Auto Insurance Coverage
In order to protect the company that you have built, make sure you have the right insurance coverage. If you operate vehicles for business use, then you need to make sure you have commercial auto insurance. If you use personal vehicles for company business, your normal automobile policy will not provide coverage, so you will need commercial automobile insurance.
A commercial auto insurance policy offers a variety of coverage’s in a typical insurance policy, which may include the following:
- Medical Payments - The medical bills of the driver and occupants of a covered business vehicle are paid through the medical payments coverage portion of your commercial auto insurance policy.
- Uninsured/Underinsured Motorist - When another driver causes an accident that your company vehicle is involved in, but they either have no insurance, or not enough coverage, your uninsured, or underinsured, coverage kicks in.
- Liability Insurance - In the case of the driver of your business vehicle being at fault and causing damage to another person’s property, or causing bodily injury to someone, the liability coverage section of your commercial automobile insurance policy will be used.
- Physical Damage - Physical damage coverage comes into play when a covered company vehicle is damaged in an accident. It also pays out for damage caused by flood, wind, theft, and fire.
Depending on what type of business you have, you may need optional endorsements added to your commercial auto insurance policy.