Commercial Auto Insurance Coverage
Having any number of company cars can help to make life at your business a little easier. It also means that you will need to invest in a commercial auto insurance policy. Having the right amount of coverage for all of your commercial vehicles can help to ensure that you are able to safely and confidently carry out all the tasks that are required.
Typical commercial auto insurance policies will provide coverage for many situations, including:
- Property damage liability – which will provide coverage if one of your employees causes damage to another person’s property while driving a company car.
- Bodily injury liability – if another person is injured after an accident that is caused by one of your employees, bodily injury liability will provide coverage for the medical bills that are incurred, as well as any lost income.
- Collision coverage – if your company car is damaged after being involved in an accident, collision coverage will pay for any necessary repairs.
- Comprehensive coverage – sometimes known as “other than collision coverage” the comprehensive coverage portion of your commercial auto insurance policy will pay for any damage that is done to your company cars during an incident other than a collision, such as theft, fire, or falling objects.
- Uninsured/underinsured motorist coverage – if one of your company cars is involved in an accident with another motorist who does not have insurance, or does not have enough insurance to cover the damage, uninsured/underinsured motorist coverage will pay for the damages.
- Hired auto liability – if you lease, rent, or hire a vehicle to use for business purposes, hired auto liability will cover any damages that are done if the vehicle is involved in an accident.