What Should I Know About Commercial Auto Policies?
When selecting commercial auto insurance, you need to take inventory of all your vehicles and drivers. If they are being used for business purposes, they should be listed on the policy. Here’s a checklist of coverage types:
- Bodily Injury Liability
- Property Damage Liability
- Physical Damage
- Combined Single Limit (CSL)
If your drivers are independent contractors, not employees, you’ll probably need Non-owned Auto coverage. You may also be required to have additional insurance coverages, such as Employer’s Liability and Workers Compensation.
How Can I Get the Best Rates on my Policy?
Many business owners believe estimating miles driven is the best way to determine their commercial auto insurance premium. This is not true; insurers use other factors, such as your safety record and claims history, to set prices. Many state regulations also impact what you pay.
There’s a lot to cover in any Commercial Auto policy, but thankfully help is available. We specialize in helping you assess multiple carriers so you can get the best rates possible, and consultations are always free. Click below to connect with us and let’s get started!
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Website and content disclaimer: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify, or supplement any insurance policy. Consult the actual policy or your agent for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.
