A Business Owner’s Guide to Commercial Insurers

Choosing the right kind of auto insurance for your business can help protect you, your employees and your assets in the event of damage or liabilities. Here is some information to help you determine why commercial auto insurance can benefit your business and what types of insurance providers offer this coverage.


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What is commercial auto insurance?

Commercial auto insurance is an  insurance plan that covers instances of damage involving company-owned vehicles. Commercial auto insurance can be part of a company’s overall business insurance plan and may apply to any vehicle used by the company to perform job functions or transport goods or services to the public. Like personal auto insurance, commercial auto insurance can provide you with a sense of security that your vehicle is covered.


When and why you need commercial vehicle insurance

You need commercial vehicle insurance when you use a vehicle to transport goods or services to selling locations or directly to your customers. Here are some examples where business-owners need commercial vehicle insurance: 


  • If you registered one or more vehicles under the company name
  • If you use a vehicle to transport people or products in exchange for money
  • If your employees will be driving or riding as a passenger in the vehicle
  • If your vehicle tows a trailer or contains heavy materials and equipment

Insurance companies that offer commercial auto insurance

There is a multitude of insurance companies that offer commercial auto insurance. Research them for the coverage they offer, which can include:

  • Tow truck insurance
  • Truck insurance
  • Pickup truck insurance
  • Dump truck insurance
  • Snowplow insurance
  • Landscaping insurance
  • Van insurance
  • Collision
  • Liability
  • Medical payments and personal injuries protection
  • Comprehensive coverage
  • Newly-acquired auto coverage
  • Road trouble service
  • Rental car expenses
  • Guaranteed Repair Networks (GRN)
  • Medical payment for personal injury
  • Rental car coverage

Commercial auto insurance frequently asked questions

 Here are some frequently asked questions about commercial care insurance:


What is the difference between an insurer and insured?

The term insurer represents the insurance provider who offers vehicle protection. The insured refers to clients of insurance providers who have coverage under their provider.


How much is insurance for a commercial vehicle?

Commercial vehicle insurance costs can vary depending on the insurance provider you use, the number of commercial vehicles you need to insure and other factors. Go to your car insurer’s website to get a quote about coverage rates for your specific situation.


What does a commercial auto policy cover?

Typically, a commercial auto policy covers the following situations:


  • If an uninsured vehicle causes a collision involving your vehicle, then your commercial insurance provider may pay for damages to your vehicle.
  • If your vehicle causes a collision, then your insurer may offer auto liability insurance that pays for the damaged vehicle(s) involved.
  • If you or your employees get injured while driving your vehicle, your insurer may pay for medical expenses.
  • If your vehicle gets stolen or vandalized, your insurer might offer comprehensive coverage.
  • If your vehicle is involved in a collision whether caused by you or another driver, your insurer might provide you with collision coverage.

Make sure you review the specific coverage your insurance plan provides to confirm the conditions they cover.

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