If your company wants to get, or is legally required to have, commercial auto insurance coverage, it’s important to understand what this type of policy typically covers. Commercial auto policies are essential for businesses that operate company vehicles, and can provide several foundational protections in the event of an injury, a claim or an accident.
Your Policy Should Cover All Components Legally Required in Your Area
Before your company decides against getting a commercial auto policy, be sure to review your local requirements, since some regions legally require this coverage. You may want or need to get this insurance if:
- Your state requires commercial auto insurance
- Your employees expect insurance protections to meet industry standards
- You need protections to help cover financial difficulties that may arise in the event of a lawsuit or accident
Typical Policies Include Several Key Coverage Features
Though commercial auto insurance policies can vary, most offer protections for medical expenses, legal damages and more. For instance, the typical policy may cover:
- Uninsured motorist coverage
- Protections for physical damages to company vehicles
- Medical coverage in the event of healthcare expenses
- Legal expense coverage
- Auto accident liability coverage
For any company that operates fleets of vehicles, having good commercial auto insurance coverage is essential in mitigating the financial and legal effects of claims, accidents and more. Understanding the typical components of a commercial auto policy can help your business find the insurance it needs.