When it comes to owning a business, there are different types of insurance built specifically for you, your company and your employees, including commercial auto insurance. This covers any vehicle used for work, including “regular vehicles” such as cars, pickup trucks and sports utility vehicles, to name a few. Commercial vehicles require high Liability insurance limits. If your business operate an unusual vehicle, haul special equipment, transport goods or people, or have other special needs, then you'll need commercial auto insurance in order to operate.
What Does Commercial Auto Insurance Cover?
Commercial car insurance covers the same major coverages private individuals purchase, however, there are many add-ons for commercial driving. Policies have coverages for employees who drive the vehicle, equipment including loading and unloading goods and business which protects your assets in the event of a lawsuit.
How Much Auto Coverage Do You Need?
Generally you must meet the state’s liability insurance requirements, which vary. Comprehensive and collision coverage is also required, which pays for damages when you are at fault in an accident or non-collision events such as weather or fire.
Additional coverage can include uninsured/underinsured motorist insurance that protects you if you’re involved in an accident with another drive who doesn’t have proper insurance or personal injury protection and medical payments coverage to help take care of expenses in the event of an accident, including wages loss. Emergency roadside insurance is available in the event that something goes wrong or personal effects insurance is also available that take care of belongings in case of theft.
Your auto insurance specialist can inform you of your exact coverage needs based on your business.