Commercial Auto Insurance
Businesses that rely on vehicles for their operations should consider purchasing a commercial auto insurance policy. Certain federal or state laws may mandate that commercial vehicles and drivers have adequate commercial auto insurance. If you need commercial auto insurance or want to ensure your business is in compliance with applicable regulations, contact Viva Insurance Services today.
What is Commercial Auto Insurance?
A commercial auto insurance policy can help cover the costs (e.g., damaged property and/or medical expenses) of an auto accident that may be caused by you or another employee. Generally, thi type of insurance includes liability, collision, medical, comprehensive and uninsured/underinsured motorist coverage, although there are additional coverages that you may need to add. Our agency can help you review your business’s insurance needs and ensure you have the appropriate coverages.
What does it cover?
- Liability Coverage: May provide repair costs for the other person’s vehicle or property. It also can provide coverage for the legal fees associated with a lawsuit for personal injury.
- Comprehensive Coverage: Provides complete protection for damages unrelated to an accident, such as losses related to theft, floods, vandalism and fires.
- Collision Coverage: Covers vehicle repair costs if an insured vehicle collides with another vehicle or object. Collision insurance may also help replace a totaled vehicle.
- Medical Payment: Can provide coverage for passengers and the driver when there is a need for medical care resulting from an accident.
- Uninsured Motorist Coverage: Provides bodily injury coverage if an uninsured driver hits a business’s vehicle and injures its driver and passengers. Some uninsured motorist coverage also covers damage to the company vehicle.
- Underinsured Motorist Coverage: This type of coverage helps if an underinsured driver hits a business’s vehicle and injures its driver and passengers, it may also cover damage to the company vehicle.
Policy endorsements may be available to your business to help round out your policy. Add-ons may include roadside assistance coverage, towing reimbursement, hired non-owned coverage, rental reimbursement and gap coverage for auto loans or leases.
How Much Does Commercial Car Insurance Cost
Commercial car insurance costs vary widely based on factors like the type of vehicle, how it’s used, and your driving history. Many small businesses pay anywhere from a few hundred to several thousand dollars per year, depending on their risk level. The best way to get an accurate idea is to compare quotes that reflect your specific business operations.
When Is Commercial Auto Insurance Required
Commercial auto insurance is required when a vehicle is used primarily for business purposes rather than personal errands. This includes tasks such as transporting goods, driving to job sites, and carrying tools and equipment for work. If your business owns the vehicle or employees drive it for company tasks, coverage is typically mandatory to stay compliant and protected.
How can I get Commercial Auto Insurance?
If your business needs commercial auto insurance, we are here to help. Contact ViVa Insurance Services today to request a free instant quote now!