Whether you’re a small business owner with just a single vehicle, or running a much larger operation with an entire fleet, you need to protect your vehicles, as well as your employees with commercial auto insurance.  Put simply, commercial auto insurance protects your business and its assets in the event of an accident.  A commercial auto policy will usually include comprehensive, collision, and liability coverage for each of your vehicles.  If your employees drive their own vehicles during business hours, you should ensure that you have purchased sufficient coverage to protect against liability the business could face as the result of an employee accident.

What is Covered

The majority of commercial auto insurance policies will cover the following:

  • Vehicle damage caused by an accident (collision)
  • Damage caused by fire, vandalism, and theft (comprehensive)
  • Medical expenses
  • Loss of cargo or inventory stored in the vehicle
  • Bodily injury liability
  • Property damage liability

In addition, there are other available options that should be considered depending on your business situation:

  • Loss of Income coverage
  • Umbrella coverage
  • Tool and equipment coverage
  • Rental reimbursement
  • Cargo coverage

Determining if you need Commercial Auto Insurance

Not sure you need commercial vehicle insurance, here are indicators and guidance:

  • If your vehicle, personal or not, is used solely for business
  • If your vehicle has commercial tags
  • If employees use your vehicle
  • If your employees drive their own vehicles for your business’ purposes
  • If your vehicle is used three times or more a month for your business

There are exceptions to these rules for certain types of businesses.  The best way to understand commercial auto insurance, whether you will need a policy, and how much coverage is appropriate, is to speak with your Foundation Insurance Group commercial insurance professional.  Give us a call today.  We’ll work with you to find the best and most inclusive coverage to meet your company’s needs, protect your business, and your employees.