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How to Choose Between Different Types of Commercial Auto Insurance – The Easy Way

  • Private passenger vehicles such as cars, vans, SUVs and vans
  • Trucks, Trailers and Tractors which include vans, dump trucks, dry cargo, cooler box, auto carrier, tanks, etc.

There are two main categories of commercial auto insurance: general insurance and specialized commercial auto insurance.

General commercial auto insurance consists of six types of coverage

  1. Comprehensive coverage: This type of coverage begins when a vehicle is vandalized or damaged by something other than another vehicle such as a fallen animal or tree.
  2. collision insurance: This type of insurance covers damage to a vehicle that occurs when the vehicle hits another vehicle or object or when the vehicle overturns. This type of insurance is highly required for vehicles that have loans or leases.
  3. Uninsured/Uninsured Motorist: This type of insurance covers medical damage and costs incurred in an accident caused by either an uninsured or uninsured motorist.
  4. Liability insurance: This type of insurance is generally required by most states. It starts when you cause an accident. It not only protects you from damages but also provides you with a legal defense in the event the other party files a lawsuit against you. “Property Damage Liability” covers damage to the vehicle or other party’s property while “Bodily Injury Liability” covers injuries or death resulting from a motor vehicle accident.
  5. Medical Payments Coverage: This type of insurance covers medical costs incurred by anyone in your car due to a car accident, regardless of what went wrong in the accident.
  6. Protection from personal injury: This type of insurance covers injury-related costs incurred by you or your employees when involved in an accident regardless of the accident’s fault.

specialist
Commercial Car Insurance Intended for businesses that require the use of specialized vehicles to perform daily activities. Some common types of custom coverage designed to protect specialty vehicles include catering truck coverage, landscape vehicle coverage, and trade-related vehicle coverage.

Conclusively, no matter what type of business you run or the type of vehicle you use, a business insurance policy can be customized to meet your specific needs.

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