Commercial Auto Insurance protects businesses from the costs incurred if a vehicle owned by the company is involved in an accident, is stolen or damaged.
Commercial Auto Coverage
Like a personal auto policy commercial policies are also a legal requirement in California. Business owned vehicles must have at least state minimum coverages, $5,000 of property liability and $15,000 for bodily injury / death of one person and $30,000 for bodily injury / death of two or more people. The policy provides the following coverages:
Protects the company against the legal costs incurred if the vehicle is involved in an accident.
Protects the company from the expenses incurred from medical expenses arising from an accident involving a company vehicle.
Protects the company from the costs incurred from repairing company vehicles after an accident.
Protects the company from the costs incurred should the vehicle be stolen or damaged by a third party.
Protects the company from the costs incurred if an uninsured driver causes an accident and injures partied inside a company vehicle and the costs of fixing any damage to the vehicle.
What does Commercial Auto Insurance cost?
The cost of a commercial auto policy will depend on your requirements. The insurer will look at the type of vehicles being insured and their values, how they are being used, the driving records of employees using the vehicles, numer of vehicles being insured and the companies claims history.