COMMERCIAL AUTO INSURANCE
What is commercial auto insurance?
Commercial Auto Insurance provides coverage for vehicles used by your business…
- Damage to your vehicle(s)
- Driver and passenger injury
- Injury to third parties
- Damage to someone else’s property
Commercial insurance or personal insurance?
Things to to consider when deciding what type of insurance policy you need:
Who Owns and Drives the Vehicle?
If your vehicle is owned by a business, you probably need a commercial auto insurance policy. If you’re a sole proprietor, you could use your personal auto insurance policy. Talk to your agent to determine which usage and the best policy for you. If your business vehicle requires higher liability limits, you will probably need a commercial auto insurance policy.
Commercial auto policies typically have higher coverage limits than personal policies, because business vehicles need more protection in case of accidents.
If your vehicle is larger or heavier than a normal size pickup or SUV, like a dump truck, tow truck, or semi truck and commercial trailer, you might require a commercial auto insurance policy. Heavy duty vehicles can cause more damage if they’re involved in an accident and can require special insurance coverages.
What types of vehicles are typically Covered?
- Vans & SUVs
- Pickup trucks
- Food Trucks
- Box trucks
- Service utility trucks
Note that personal auto insurance policies may provide enough auto insurance coverage for some businesses, especially if you’re also driving your vehicle for personal use. Check with one our our experienced agents to see if you require specific commercial auto insurance coverages, high liability insurance limits, operate an unusual vehicle, haul special equipment, transport goods or people, or have other special needs, then you will need commercial auto insurance.
The Four Types of Risk Facing Construction Companies include:
- Property damage: Damages to company equipment and property
- Income loss: Loss of income due to business interruption from unforeseen events that can include fire, accidents or severe storm damage
- Employee injuries: Job-related injuries, illnesses, or even death.
- Liability risks: Injuries or property damage caused to third parties not associated with your company.
Insurance Coverage Can Include:
- Rental Vehicle Coverage
- Workers Compensation
- Medical Coverage for on-property injuries
- Builders Risk
- Contractor’s Professional
- Cyber Liability
- Business Income
- Employee Dishonesty
CBM Insurance has the experience, capability knowledge to review, recommend, and advise on many types of construction risks. The team at CBM works within a number of construction industries to make sure that all exposures are accounted for and properly protected. Assisting in the handling of construction insurance claims, reviewing experience modifiers, and providing certificates that meet required contract language and some of the things we do from day-to-day.
Provides commercial auto liability and coverage to the auto itself that the business owns. Can include coverage for rental reimbursement, towing/labor, etc. This can include coverage for motorcycles, boats, and other vehicles.