Commercial Auto Insurance

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Why You Made Need Commercial Auto Insurance
Commercial auto insurance is for vehicles owned by a business or the owner of the company. These policies are for plumbers, electricians, couriers, carpet cleaners, and other people who need to travel for business purposes.
There are four main coverages on a commercial auto insurance policy. The first of these is liability which covers damage you do to others if you’re at fault in an accident. In addition to covering the bodily injury or property damage you cause, it also covers things like lawyer fees or the cost of a settlement, up to the limit on the policy.
Another major coverage is for medical payments, although this varies by state. This covers medical bills if the driver of the vehicle or a passenger is injured in an accident. This coverage can be used regardless of whose fault the accident was.
Commercial auto insurance policies can have comprehensive and collision coverage. This covers damage to the business’ vehicle, minus the deductible. Collision covers damage to your car if you’re at fault in an accident. Comprehensive covers other damage to your vehicle such as a tree falling on it, it’s stolen, vandalism, or it catches fire.
Uninsured/underinsured motorist coverage is the other major coverage. This covers you for bodily injury and property damage if someone without insurance, or too little liability coverage, were to cause an accident involving your vehicle. There are two deductibles. If you have all of the other person’s information, there is a $100 deductible that you can get back if/when your insurance company gets money from them. If it’s something like a hit and run, then the deductible is $300.
Many factors go into the cost of a commercial auto insurance policy. The driving record of the company owner and employees that drive heavily influences the rates. Where the business is located is also a big difference-maker. What coverages are on the policy, along with the coverage limits and deductibles, heavily influences the premium as well.