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Auto Insurance for Business-Related Vehicles
Business Auto Insurance, also referred to as Commercial Auto Insurance contains coverages specifically designed to protect those who use vehicles for business purposes from financial loss. Business Auto Insurance provides coverage that a regular auto policy does not.
Personal Auto Insurance
As the name implies, Personal Auto Insurance provides coverage for incidents that result from personal use of a vehicle. For drivers that use their car for business purposes to occasionally meet with clients (example: consultants, photographers or similar fields), should make their insurance company aware of additional operation outside of personal use. Many carriers offer increased coverage under their standard auto policy for infrequent business use. If you use your vehicle regularly for business purposes, the greatest protection for you and your vehicle is a Business Auto Insurance policy.
Business Auto Insurance
The best coverage for your company car or company vehicles will come from a Business Auto Insurance policy. Business Auto (or Commercial Auto) insurance extends far beyond what a regular auto policy can cover. Professionals in real estate, fleet management, HVAC, logistics, food service and many more all count on Business Auto Insurance.
If you’re uncertain about whether the work you do fits the criteria for this type of policy, contact one of our Business Insurance Specialist. We ’ll be happy to go over the usage of your vehicle and answer your questions.
Additional Auto Insurance Coverage for Businesses
Sometimes you have to drive a car that is not your own while conducting business. Other times, you may have an employee run an errand for you. You may want to be covered in these work-related situations with the right type of auto insurance for your business.
The following are additional types of coverage that you may find useful in protecting you and your employees.
Single Deductible Endorsement
If you haul or tow any kind of trailer for business and damage the car, truck or van and the trailer, you have the option of paying a single deductible instead of multiple deductibles.
Individual Named Insured Endorsement
This coverage extends your business auto insurance to protect you when you are driving a car that is not yours.
Non-owned Vehicle Coverages
This is a collection of coverage that extends your business car insurance to protect you and your employees when driving in a vehicle that is not owned by the company.
This coverage extends your coverage onto a vehicle that you, or your employee, rent for work purposes. For example, your company needs to complete a construction job and you have your employee rent a truck in order to complete the job on time and want coverage extended to that rented vehicle. Another example: you send your employee out of state for work and you want to extend coverage onto the vehicle they are to rent for their business trip.
Rental Reimbursement and Downtime Coverage
This is typically a great option for truckers. This type of coverage pays you an established amount to offset the loss of income due to not having an operating vehicle at your disposal should you not be able to have a rental. For example, your truck is involved in an accident and you can’t get a temporary truck, therefore you’re not able to work causing you to miss out on $350 each day unless you have this type of Rental Reimbursement and Downtime Coverage.
This coverage covers your cargo— whether it’s Amazon boxes, cars, brinks, or other merchandise. You choose your coverage amount and your policy covers you for the specified amount in the case you suffer a cargo loss.
A Motor Carrier Permit (MCP) is filed directly with the DMV specifying the amount of coverage you need to hold to operate your vehicle, typically a truck.
Additional Insured Certificates
This certificate is for adding an additional insured party— not just an additional driver. The additional insured party can be anyone that seeks to be protected in the case of an accident, whether or not they drive the vehicle. Such can be the case with companies, affiliates, or any party who has a financial interest in your operations.
Whether you’re using your own car for work or you have a fleet to your business name, AIS can help you find the right auto coverage to suit your needs. Choosing an Auto Insurance policy for your business can be more difficult than buying an individual policy. Our licensed Business Insurance Specialists have the knowledge and experience to help fulfill the insurance needs of any size business.
Give our Business Insurance Specialists a call today to see how much money we can help you save while providing excellent coverage for your company’s auto insurance needs.