Key Coverages Provided by Commercial Auto Insurance:
Liability Coverage: This is the foundation of Commercial Auto Insurance, covering your legal responsibility if you're at fault in an accident that causes injury or property damage to others. It includes:
Bodily Injury Liability: Covers medical expenses, lost wages, and legal fees if you’re responsible for injuring someone in an accident.
Property Damage Liability: Covers the cost of repairing or replacing property (such as vehicles, fences, or buildings) that is damaged due to an accident caused by your business vehicle.
Physical Damage Coverage: This protects your business vehicles against damage caused by accidents, collisions, or other incidents. It includes:
Collision Coverage: Pays for repairs or replacement of your business vehicle if it’s damaged in a collision with another vehicle or object, regardless of fault.
Comprehensive Coverage: Covers damages to your vehicles caused by non-collision events such as theft, vandalism, fire, or natural disasters.
Medical Payments Coverage: This coverage helps pay for medical expenses incurred by you, your employees, or passengers if you're injured in an accident while driving a business vehicle, regardless of fault. It can also cover rehabilitation costs and funeral expenses.
Uninsured/Underinsured Motorist Coverage: Protects your business in the event of an accident with a driver who doesn’t have sufficient insurance or any insurance at all. This coverage can help cover medical expenses, property damage, and lost wages if you're involved in an accident with an uninsured or underinsured motorist.
Cargo and Equipment Coverage: If your business transports goods or materials, this coverage protects against losses or damage to cargo while it's in transit. It's especially important for delivery companies, contractors, or any business that relies on the transportation of goods.
Rental Reimbursement Coverage: If your business vehicle is damaged and you need a rental vehicle to continue operations, this coverage helps pay for the cost of renting a replacement vehicle.
Hired and Non-Owned Vehicle Coverage: If your business uses vehicles that are rented, leased, or personally owned by employees for business purposes, this coverage provides protection against accidents involving these vehicles.
Roadside Assistance: Many policies offer optional roadside assistance coverage, which provides help in the event of a breakdown or emergency, such as towing, tire changes, fuel delivery, or lockout assistance.
Why Your Business Needs Commercial Auto Insurance:
Protection from Liability: Without Commercial Auto Insurance, your business could face significant financial risks in the event of an accident. Liability coverage helps protect your assets and reputation in the event of a lawsuit or claim due to an accident caused by one of your business vehicles.
Property Damage and Vehicle Repairs: If one of your business vehicles is damaged in an accident, you’ll need protection to repair or replace it. Physical damage coverage ensures you aren’t stuck with the financial burden of fixing your vehicles.
Business Continuity: With the right coverage, your business can keep running smoothly after an accident. Rental reimbursement and roadside assistance can ensure you have access to replacement vehicles, minimizing downtime and ensuring that your operations continue.
Employee Protection: If your employees use vehicles for business purposes, Commercial Auto Insurance helps protect both them and your business from potential financial loss in the event of an accident. It ensures that both medical expenses and legal costs are covered, protecting your business from liability.
Compliance with Regulations: If your business operates in industries that require commercial vehicles, certain types of coverage may be legally required. Commercial Auto Insurance ensures your business stays compliant with state and federal regulations, protecting you from fines and penalties.
We help you navigate the complexities of Commercial Auto Insurance, so you can drive your business forward with confidence, knowing you’re covered. Contact us today to learn more about how we can protect your business vehicles and ensure you’re prepared for any road ahead.