Facets of Commercial Auto Insurance
Commercial auto insurance has become an essential part of our everyday lives. Driving a commercial vehicle exposes a driver with a lot of serious events. He may encounter death or accidents or loss of goods. So it is of utmost importance for the business owner to get himself insured with commercial auto insurance.
There are several types of insurance a business owner might need to avail. Some are optional and some become necessary. Commercial auto insurance protects business owners from unexpected events. They become financially secure if they are insured with commercial auto insurance.
A driver needs auto insurance to insure a personal vehicle, commercial auto insurance is essential to insure your business-owned or leased vehicles. In case of any accident, you may be liable for bodily injury, lost wages or any damage caused.
Typical California commercial auto insurance coverage includes:
Bodily Injury – Coverage for damages that involve bodily injury to others for which you become responsible under law.
Property Damage – 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.
Other obtainable coverages:
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.
Hired Auto Liability – 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.
There are many key points which need to be taken into consideration so its best to consult a commercial auto insurance company to get the best quote which is well suited to your requirements.
