Commercial Auto Insurance
Peace Of Mind For Businesses On The Road.
Commercial auto insurance protects small businesses when their vehicles are involved in a collision or are stolen, vandalized, or damaged. A commercial auto insurance policy provides funds to repair or replace the vehicle, and covers related medical expenses and third-party property damage.
How commercial auto insurance protects a business
Commercial auto insurance covers damage to a company vehicle and bodily injuries when you or an employee cause an accident. It also protects you against damage that occurs while the vehicle is parked.
Commercial auto insurance provides five types of insurance protection:
- Auto liability covers third-party property damage or injuries.
- Medical payments provide money to cover medical bills related to accidents.
- Physical damage (also known as comprehensive coverage) pays to fix vehicle damage.
- Collision coverage pays to fix damage to your car from a collision with another vehicle.
- Uninsured motorist protects you in case a driver without insurance injures the driver or passengers in your vehicle. In some states, it also covers damage to your vehicle from uninsured motorists.
Commercial auto insurance, also known as commercial vehicle insurance, does not cover employees who use their personal vehicles for business purposes. For that, you need hired and non-owned auto insurance. However, when employees use their own cars or trucks, your firm may still be held liable for any damage they cause to third-party property.
Other things commercial auto insurance doesn’t cover include:
- Items you carry in the vehicle
- Using the vehicle to provide ridesharing through Uber or Lyft
- Employee injuries (normally covered through workers’ compensation insurance)
- Incidents involving rental vehicles
Since Commercial Auto Insurance coverage varies, it’s important to discuss your business’s options with a specialist at The CFI Agency. who can help you determine the proper amount of coverage for all your commercial needs.
Auto Insurance is an essential financial decision that will keep your business covered. The next time your fleet takes the road, make sure it’s protected with Commercial Auto policy from The CFI Agency