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Commercial auto insurance provides protection for business-owned or leased commercial vehicles. Policies can include collision and other damage coverage as well as liability coverage for property damage and injury to others. Just as you need auto insurance for your own car, you need business auto insurance to cover your business-owned or leased vehicles. In many cases, automobile accidents are the most likely cause of very large liability claims against your business.
Commercial auto insurance coverage is important even for businesses that don't own a vehicle. It provides protection for business-owned or leased vehicles but can protect the business and its owners in other situations. What happens when a sub-contractor in a 1099 relationship gets into an accident while driving on your company's business? For a discussion and advice about that or other commercial auto insurance questions, call us at 1-800-548-2329.
Four Questions To Get The Right Auto Insurance
Having the right type of policy can help ensure that you, your employees, and your business are all protected in the unfortunate event that one of your vehicles is involved in an accident.
If you’re a business owner and you or your employees use a vehicle for business-related deliveries or to carry certain materials to and from a job site, you may need a commercial auto insurance policy that’s tailored to more closely suit the needs—and risks—of a business vehicle operator.
Here are some questions that can help you determine if you might need a commercial auto policy rather than a personal auto policy.
• Do you need more liability coverage than your personal auto policy provides? Generally, a commercial auto policy provides higher limits of liability, but less or no coverage in areas that are typically not associated with commercial auto risks.
• Do you need special coverage for situations associated with conducting business? Commercial auto policies also usually offer certain coverages—such as hired and non-owned auto coverage and coverage for towing a trailer for business use—that are not available with personal auto policies.
• Do you need to list any employees as drivers? You can do this with a commercial auto insurance policy.
• Do you use your vehicle for business purposes? If you use your vehicle for things like pizza or newspaper delivery, catering, door-to-door consulting service, landscaping or snowplowing service, logging business, day care/church retreat van service and/or farm-to-market delivery, you might need a commercial auto policy.
Gerrity, Baker, Williams Inc, GBW Insurance, is an independent insurance agency – trained, licensed insurance professionals who offer personal service and advice. We can help match you with the type of policy that best suits your needs and those of your company.
Typical Commercial Auto coverage includes:
Bodily Injury Liability - Coverage for damages that involve bodily injury to others for which you become responsible under law.
Property Damage Liability - Coverage for damage to property of others for which you become responsible under law.
Medical Payments - Coverage for reasonable and necessary medical expenses and funeral services for those who are accidentally injured while in your automobile or while getting into or out of your automobile.
Personal Injury Protection - Coverage for medical, hospital, rehabilitation, loss of wages or loss of services costs resulting from injury to you or any resident family member. In case of death to the insured or a resident family member, death benefits and survivor benefits, if applicable, will be provided.
Other coverage that may be obtained include:
Comprehensive - Protection for the loss of or damage to your vehicle and its equipment from all causes except collision, subject to the deductible on the policy.
Collision - Protection for the collision damage to your automobile and its equipment, subject to the deductible on the policy.
Uninsured Motorist - Coverage allows you to recover bodily injury damages due to an accident where the other party does not have insurance, and is found legally liable.
Underinsured Motorist - Coverage allows you to recover bodily injury damages due to an accident where the other party is found legally liable and does not have adequate liability limits.
Additional Expense - Coverage for necessary additional expenses incurred as a result of a loss for which you are protected under comprehensive or collision coverage. These expenses include rental cars, food, lodging and other incidental expenses.
Hired Auto Liability Coverage - Covers liability for automobiles hired under contract on behalf of or loaned to the named insured.
Hired Auto Physical Damage - Coverage for an automobile of any type, hired, borrowed or leased on a short term basis for use in the insured's business.
Employer's Non-Ownership Liability - Coverage for a private-passenger automobile used in the business of the named insured by any person, or the occasional and infrequent use of a commercial automobile in the business by any of your employees.
Click here to start a detailed business auto quote. Or call us for New Jersey business auto information at 1-800-548-2329.
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