All About Business Auto Insurance
Business auto insurance provides protection for any commercial vehicle owned or leased by the business. It typically includes collision and damage coverage as well as coverage for property and personal damage to others.
Just like having insurance for your personal car, you need insurance to cover your vehicles owned or used by your business. Without Business Auto Insurance you could be liabile for bodily injuries, property damage or loss of wages if you or your employees are in an accident.
Typical coverage includes;
Bodily Injury – Coverage for bodily injury to others that you become responsible for under law.
Property Damage – Coverage for damage to others for which you become responsible under law.
Medical Payments – Coverage for people who are accidentally injured while in your vehicle or while getting into or out of your vehicle.
Personal Injury – Coverage for you or your immediate family’s medical, hospital, or lost wages resulting from a car accident. In the event of death, death benefits and survivor benefits, if applicable, will be provided.
Optional coverages available for purchase include:
Comprehensive – Coverage for your car and its equipment in the event is is damaged or suffers a loss that is not a collision, subject to the deductible on the policy.
Collision – Coverage for collision damage to your car and its equipment, subject to the deductible on the policy.
Uninsured Motorist – Coverage when the other driver does not have insurance and is legally liable.
Underinsured Motorist – Coverage for when there is not enough insurance to cover the cost of the damages when the other drive is legally liable.
Additional Expense – Coverage for things like a rental car, food, hotel or lodging and other expenses resulting from an accident or loss.
Hired Auto Liability Coverage – Covers liability for vehicles hired under contract on behalf of or loaned to the named insured.
Hired Auto Physical Damage – Coverage for any hired, borrowed or short-term leased vehicles used in your business.
Employer’s Non-Ownership Liability – Coverage for a personal auto used in your business. It also covers a business vehicle used occasionally by your employees for your business.