This type of insurance provides coverage for automobiles, trucks, and vans used for
business purposes. Major coverages are the same as with personal auto insurance. Auto insurance policies pay for
damages due to an accident, or damages caused by fire, theft, flood, and vandalism. It also provides liability
coverage for injuries to people and property damage when you are at fault in an accident.
Is Business Auto Insurance Right for
There are many factors to consider. If you own or lease
autos for your business you should have a Business Auto Insurance policy because your personal insurance may
not cover losses. If you have an outstanding loan on your business auto, most lenders require comprehensive
and collision. If you or your business owns the autos outright, then the decision should be based upon your
business' financial reserves and the value of the auto. Is the value of the auto close to the premium paid
for comprehensive and collision? Do you have liquid funds that could be used to replace the auto if destroyed
or stolen? Can you buy another auto of this type?
Liability Coverage for Accidents Involving Company-Owned
Liability coverage is a part of a Business Auto Insurance
policy. This coverage protects you in case someone else claims you (or someone driving your covered auto) are
legally liable for either bodily injury or property damage.
Liability Coverage for Autos Rented, Loaned, or
The Business Auto Insurance policy may protect you if your
business is involved in a lawsuit because of an accident involving an auto your company has rented, loaned, or
Physical Damage (Collision)
Your Business Auto Insurance policy includes coverage for collisions; you will be protected in
case your auto is physically damaged in an accident involving another vehicle or a stationary object, such as a
building, telephone pole, or guardrail.
Physical Damage (Comprehensive)
In addition to the standard coverages, the Business Auto Insurance policy will pay for physical
damage to your insured auto caused by a variety of risks, including fire, lightning, theft, vandalism, hail, and
Are you properly insured?
Contact us for more
information or a quote