If you own a business, you probably know that business insurance is essential to the organization's solvency. Commercial auto insurance is particularly important for certain enterprises. Commercial vehicle insurance provides fairly similar coverage as one's personal automobile policy.
However, it is usually not possible for one's personal automobile policy to apply to accidents and other claims stemming from vehicle use for business purposes. Let's take a deeper look at commercial auto insurance to give you a better idea of what it is all about.
Commercial Auto Insurance Coverage
Commercial auto insurance provides coverage like collision, liability, comprehensive, uninsured motorist and medical payments (personal injury protection). Yet, there are differences between this type of policy and standard auto insurance. Differences exist in terms of exclusions, eligibility, coverage, definitions and limits.
Property Damage Liability Coverage
This coverage provides protection if the vehicle damages another individual's property. In most instances, this coverage will also pay for the cost of a legal defense.
Bodily Injury Liability Coverage
Coverage pays for the costs of injury or death to another person resulting from a vehicle accident. It also covers the cost of a legal defense in most cases.
Medical Payments, Personal Injury or No-fault Coverage
This form of coverage typically pays for the medical costs of the driver as well as the passenger(s) in the vehicle. The costs in question must be the result of the covered accident. Fault usually does not matter in this style of coverage. It applies regardless of whether the insured party caused the accident or is a victim.
Combined Single Limit Coverage (CSL)
Insurance liability policies usually provide distinct limits that are applicable to bodily injuries involving property damage.
A policy with combined single limits has the same amount of coverage for each covered occurrence regardless of whether there is bodily injury or property damage to an individual or several people.
Comprehensive Physical Damage Coverage
This coverage provides compensation for vehicle damage from vandalism, theft, fire and other specifically noted perils.
This form of coverage provides money to pay for the damage caused o a vehicle when another object hits it. It also usually provides coverage when the vehicle hits the object itself.
Uninsured Motorist Coverage
If an uninsured driver or a hit-and-run strikes your vehicle, this coverage might pay for injuries and property damage. In certain instances, under-insured motorist coverage is available. It applies in instances when the driver at-fault for the accident lacks enough insurance.
We've got you covered. Insurance Agent2000 can help you get a Pleasant Hill commercial auto insurance policy that meets your needs. Call us at (925) 827-0510 for more information.