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What You Need to Know About Commercial Auto Insurance
Commercial auto coverage insures vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships.
What Can Commercial Auto Insurance Cover?
Commercial auto insurance coverage in Texas can be used to insure private passenger autos and all types of trucks, trailers, semitrailers and commercial vehicles designed for use on public roads.
We can give you more details about specific coverages and deductibles and about tailoring a coverage plan that's right for you and your business.
What are the Coverages Included in a Commercial Auto Insurance Policy?
Some of the most common types of coverages include:
- Collision coverage pays for accident-related damage to your insured business vehicle.
- Comprehensive coverage pays for damage to your insured business vehicle from non-collision causes such as theft, weather, vandalism or fire.
- Rental reimbursement pays for a rental vehicle, up to certain limits, after an accident causes damage to your insured business vehicle.
- Liability coverage pays injury damages to others and damage to other people's property if you are at fault, including your legal expenses if you're sued.
- Uninsured or Underinsured Motorist coverage pays for injury damages to or property damage suffered by occupants of your insured business vehicle if the accident is caused by an inadequately insured driver.
- Personal Injury Protection pays medical expenses and income loss for accident-related injury suffered by occupants of your insured business vehicles, regardless of fault.
- Medical Payments coverage pays medical or funeral expenses for accident-related injury suffered by occupants of your insured business vehicles, regardless of fault.
Do I Need Commercial Auto Insurance?
- Who is registered on the vehicle? If it is registered in the name of the business, you need commercial auto insurance.
- How is the vehicle used? If you or your employees use the vehicle for business purposes, then you need a commercial policy. Even personal cars may need commercial auto coverage if used frequently for business purposes. Although employees’ vehicles are covered by their own personal insurance, this coverage will take effect if an employee is involved in an automobile accident with damages that exceed the limits of their policy.
How Much Does a Policy Cost?
It depends. The price is based on factors including:
- Business size;
- Number and types of vehicles insured;
- Number of employees driving vehicles insured;
- Costs of vehicles hired;
- Business and driving risks;
- Amount of coverage.
One of our insurance agents can help you find affordable commercial auto insurance coverage.