Commercial Auto Insurance for Small Businesses

What is Commercial Auto Insurance?

Commercial Auto Insurance, also known as business auto insurance, helps your business cover the financial costs resulting from an auto accident if you or an employee is found at fault. Commercial auto insurance helps pay for damaged property and medical expenses – even in the event of a fatal accident.

Do I Need Commercial Auto Insurance for My Small Business?

You will need to obtain commercial auto insurance if your business:

  • Owns, leases or rents vehicles such as cars and trucks.
  • Has employees who drive their own vehicles to conduct business.
  • Has employees who operate company vehicles that are leased, rented or owned.

What Does a Business Auto Insurance Policy Typically Cover?

  • Liability insurance- Covers bodily injury to others and any property damage to another vehicle if you are at fault in an accident. Bodily injury pays others’ medical costs and lost wages, and your legal expenses if a lawsuit is brought against you due to an accident.
  • Uninsured motorist coverage- Pays for your injuries or property damage caused by an uninsured motorist, a driver who does not carry insurance or, in some states, an unidentified driver.
  • Under-insured motorist coverage- Protects you if the at-fault driver fails to carry enough liability insurance to cover your bills, unless you live in a no-fault state, where each driver’s auto insurance policy responds to their own losses.
  • Collision insurance- Pays for damage to your vehicle if you hit a vehicle, another vehicle hits you or your vehicle rolls over, regardless of who is at fault. Collision coverage can be required if your vehicle is financed or leased.
  • Comprehensive insurance- Pays for damage to your vehicle from causes other than an accident. These instances may include theft, flood, vandalism, earthquakes, fire or damage from a bird or animal.

How Much Does Commercial Auto Insurance Cost?

The cost of a commercial auto insurance policy will depend on your business size, the amount of protection you want and any state required limits you’ll need to meet. The best way to get a true idea of cost is to get a quote specifically for your business and to review it carefully to make sure all of your concerns are truly covered. Filling out a quote request form will help start the process.

Let us help you make an informed decision about your business insurance needs.  Our licensed agents specialize in helping small businesses obtain the best coverage at the best price, give us a call today at 888-834-8619.

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