Commercial Auto Insurance
Commercial auto insurance is a must, if you own or lease vehicles in your company name. You might even need commercial auto as an individual, even if you don’t think of yourself as a business. Much like personal car insurance, commercial auto insurance helps cover the costs of an accident. This coverage can help pay for damaged property and bodily injury (medical expenses, pain and suffering and lost wages).
Commercial auto insurance can help protect business owners and their companies if, for example:
- An employee, or owner, hits a pedestrian while driving one of the business vehicles.
- You swerve off the road while running an errand in a company vehicle and hit a parked car.
- An employee is driving to a job and gets rear ended by another driver.
- An employee driving to work in a company vehicle hits another car and totals it.
- An employee runs to the bank in their personal car to make a deposit and gets in an accident, injuring the other driver.
Who Needs Commercial Auto Insurance?
Many businesses, and even individuals, need commercial auto insurance. If any of the following apply to you, or your business, give us a call for a commercial auto quote:
- You own, lease or rent vehicles in the name of your business, or to be used for business purposes.
- You have employees who drive their own vehicles to conduct business (even simply running errands on behalf of the business).
- You have employees who operate leased, rented, or owned company vehicles.
- You take possession of customer vehicles (such as a mechanic, auto detailer, etc)
- You own a restaurant that delivers, even if it’s through a third party, such as Uber Eats or Grubhub.
Many professionals own or lease their vehicle in their business name for tax purposes. This can create a problem with your personal auto insurance. I’ve seen personal auto policies decline coverage because the vehicle was titled in the name of a business. Many personal insurance companies will insure a passenger vehicle titled in a company name, as long as the usage is commercial and the business is an additional insured. It’s best to talk to a professional to make sure your policy is set up correctly. We’re always happy to help. 303.452.6662.
What Vehicles Are Covered Under Commercial Auto Insurance?
If you’re driving a vehicle for business reasons, you likely have a commercial auto insurance need. Whether you’re using a four-door sedan to travel to and from business meetings, you’re towing a few tons of cargo in a large delivery truck or you operate an 18-wheeler; you likely need a commercial policy.
A good rule of thumb is to consider if the vehicle is being operated in relation to the job. If it is, you’ll likely need business auto insurance coverage. Remember that using a vehicle to commute to and from work doesn’t constitute a need for commercial vehicle insurance.