Commercial auto insurance is a useful policy designed to protect the vehicles owned or used by your business for work purposes. However, a basic commercial auto insurance policy will not cover everything. Your typical full coverage commercial auto insurance policy may include:<\/p>\n\n\n\n
However, this type of policy can vary and doesn\u2019t always cover every danger that could face your commercial vehicles.<\/p>\n\n\n\n
As a rule, commercial auto insurance policies may not cover:<\/p>\n\n\n\n
This is why you should ask your insurance agent about additional coverage options, such as:<\/p>\n\n\n\n
Hired and non-owned auto insurance is for companies that rent vehicles or have employees use personal vehicles for work purposes. The issues with borrowing or renting vehicles is that it leaves the employer at risk for liability if the driver causes an accident. Hired and non-owned vehicle insurance covers medical bills and property damage for such vehicles.<\/p>\n\n\n\n
As a businessowner, you may choose to have only named insureds for work vehicles or purchase additional insured to protect anyone driving the company vehicles. This coverage is more limited for drivers than it is for the insured. It helps cover legal fees and third-party lawsuits concerning bodily injuries and property damage.<\/p>\n\n\n\n
One side of commercial auto insurance is trucking insurance. This insurance is geared specifically for truckers and trucking companies, as these vehicles face unique risks and tend to cost more to repair. It covers the same auto coverages as commercial auto insurance but also involves:<\/p>\n\n\n\n
Umbrella insurance is additional coverage that fills in holes left over by other liability coverages. If an accident happens and costs more than your policy limits, umbrella insurance will help pay for the extra damages. This policy is typically an add-on to another policy such as general liability or bodily injury liability.<\/p>\n\n\n\n
Commercial auto insurance can be expensive, especially for large businesses or businesses with vehicles that travel across states. Compare quotes and ask about discounts for your commercial auto insurance policy. Common discounts include:<\/p>\n\n\n\n
Also be aware of specified perils coverage,<\/strong> which may save you on premiums by covering only named perils instead of named and unnamed perils.<\/p>\n\n\n\n Commercial auto insurance often as a combined single limit (CSL) which combines bodily injury and property damage to raise the limits on these coverages.<\/p>\n\n\n\nHow Much Commercial Auto Insurance is Required?<\/h2>\n\n\n\n