In the event of an accident, an auto insurance policy for your business could help pay for vehicle repairs or medical bills for a driver. The deductibles and limits of your policy will apply to claims covered by your policy. You should talk to your Safepro Insurance Services Business Insurance agent about coverage availability and requirements in your state. Here are a few examples of typical business auto insurance coverages:

LIABILITY COVERAGE: In a business auto policy, carriers offer two types of liability coverage: bodily injury liability and property damage liability. Every state requires auto liability coverage. Having bodily injury coverage is important if your employee is driving a company vehicle and causes an accident. Property damage coverage can help you cover other drivers’ car repair bills.

COLLISION COVERAGE: After a covered accident, collision coverage can help you repair your company car or replace it if it’s totaled.

COMPREHENSIVE COVERAGE: When your business vehicle is damaged by something other than a collision (such as theft, fire, vandalism, or hail), comprehensive coverage pays for the repairs. As an example, comprehensive coverage may help pay for repairs to your company car if hail damages it during a storm.

UNINSURED MOTORIST COVERAG AND UNDERINSURED: If you get into an accident with an uninsured or underinsured driver, this will protect you. This coverage must be provided by your insurance company. You must sign a waiver if you decide not to buy it. In the waiver, it states that the insurance cover was offered to you and you declined it.

THINGS NOT COVERED: Commercial auto insurance does not cover everything. Depending on where you live, Certain Claims and/or expenses are not covered: When an employee is driving a company vehicle, medical expenses that are unrelated to an accident. The contents of your business vehicle (for these they can be insured through Inland Marine coverage). The use of a personal vehicle for business purposes causes an employee to have an accident. Rental car repairs while you wait for your company car to be repaired after an accident.

REVIEWING YOUR POLICY DECLARATIONS: You’ll receive policy declarations when you purchase commercial auto insurance. You can use this document to “declare” the choices you’ve made for your commercial auto insurance policy, including your deductibles, limits and optional coverage. _You can contact your insurance agent with any questions you have regarding your policy declarations. Knowing what’s covered (and what isn’t) is essential to preparing for a claim.

Comments are closed.