Commercial vehicles such as cars, trucks, and vans that are used for business purposes require special coverage because they are typically exposed to greater risk than vehicles used for personal transportation. Commercial Auto Insurance policies provide physical damage and liability protection for commercial vehicles and their owners. The licensed insurance agents at Excellence First Insurance can help you understand your Commercial Auto Insurance coverage options and find the policy best suited for your unique needs.
Who Needs Commercial Auto Insurance?
Anyone who regularly uses a vehicle for business purposes should consider carrying a Commercial Auto Insurance policy. Here are a few examples of vehicles that need Commercial Auto Insurance:
• Industrial vehicles (such as semitrucks and dump trucks)
• Business vehicles used to run errands or make deliveries
• Vehicles used to transport tools, equipment, or clients
• Commercial trailers (such as utility trailers and dump body trailers)
Types of Commercial Auto Insurance Coverage
Commercial Auto Insurance policies offer similar coverage as Personal Auto Insurance policies. But commercial and personal auto insurance policies may differ in coverage definitions, eligibility, and coverage limits and exclusions. Each policy can be customized to your needs, but a standard Commercial Auto Insurance policy usually includes the following primary types of coverage:
Bodily Injury Liability Coverage
If an accident occurs and you are at fault, this coverage helps pay for costs associated with the bodily injury or death of another person. This coverage also usually pays for costs related to your legal defense.
Property Damage Liability Coverage
If you are in an accident and your vehicle damages another person’s property, this coverage helps pay the costs of repairing the damages or replacing the property if it is beyond repair. This coverage can also usually help pay for costs related to your legal defense.
Medical Payments or Personal Injury Coverage
If the driver or passengers of your vehicle are injured in an accident, this coverage helps you pay for costs associated with the injuries such as medical bills and diagnostic testing. This coverage provides protection to you and your passengers even if you are not at fault for the accident.
Comprehensive and Collision Coverage
Comprehensive and collision coverage pays for damages to your vehicle caused by a covered peril or collision with another object. Comprehensive coverage pays for damages caused by covered perils such as fire, flood, theft, and vandalism. Collision coverage pays for damages caused by a collision with an animal or another object.
Uninsured and Underinsured Motorist Coverage
If you are involved in an accident with a driver who doesn’t have insurance or doesn’t have adequate insurance coverage, this coverage helps pay for the costs of your injuries and property damages. This coverage also offers protection from accidents involving a hit-and-run driver.
Additional Commercial Auto Insurance Coverage Options
Many Commercial Auto Insurance polices also offer expanded coverage through additional policy enhancements. Common enhancements that can be added to a Commercial Auto Insurance policy include:
• Combined Single Limit (CSL) provision
• Expanded “insured” provision
• Blanket additional insured protection
• Personal effects coverage
• Loading and unloading coverage
• Lease and loan gap coverage
• Temporary substitute and leased vehicles coverage
• Fellow employee coverage
• Towing and labor costs coverage
• Rental reimbursement coverage
• Inland marine coverage
• Hired automobile coverage
• Non-owned automobile liability coverage
Contact Excellence First Insurance today and let our licensed insurance agents help you find the Commercial Auto Insurance coverage right for you. We work with several competitive insurers and can help you customize your Commercial Auto Insurance policy for the protection you need within your budget.
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