FRIDAY, JANUARY 29, 2021
When Do I Need Commercial Auto Insurance?
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Commercial auto insurance provides coverage for vehicles owned or used for work purposes. If you own a business or use a vehicle for work, you may need commercial auto insurance.
How Do I Qualify for Commercial Auto Insurance?
Not all vehicles or individuals qualify for commercial auto insurance. You must be using the vehicle for work in order to purchase and carry commercial auto insurance. This does not include using a personal vehicle to commute to and from work.
Instead, work purposes may include:
If you are not sure about whether or not you need commercial auto insurance, be sure to speak with your insurance agent. They can help you find the right insurance policy for your vehicle and driving needs.
What Does Commercial Auto Insurance Cover?
Commercial auto insurance offers a lot of the same coverages as personal auto insurance policies, although often for higher limits. A commercial auto insurance policy may include:
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Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the vehicle caused by fire, wind, hail, lightning, smoke, theft, vandalism and other incidents not involving collision.
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Collision Coverage: Collision coverage provides compensation for damages to the vehicle caused by a collision with another vehicle or object.
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Liability: Liability insurance covers bodily injury and property damage someone else may suffer while a driver is operating the insured vehicle.
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Medical Payments Coverage: Medical payments coverage provides compensation for medical bills the driver and their passengers may face after an accident, no matter who caused the accident.
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Uninsured/Underinsured Motorist: This coverage provides compensation for damages incurred in an accident involving another driver who is not carrying insurance.
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Roadside Assistance: Roadside assistance covers trip interruption expenses such as running out of gas or needing to be towed.
You may also purchase Inland Marine Insurance for equipment that is damages during transport and Hired/Non-Owned Liability for vehicles used but not owned by the business.
Is Commercial Auto Insurance Required?
Requirements may vary depending on where your business operates or where you drive. In California, all business vehicles must be covered by a minimum amount of commercial auto insurance, including:
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$15,000 bodily injury liability per person
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$30,000 bodily injury liability per accident
Speak with your insurance agent about getting the right insurance for your vehicle and your business.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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