Commercial Auto Insurance in Rock Hill, Greenville & Throughout the Carolinas
Regardless of size, businesses with a fleet of vehicles need to invest in commercial auto insurance. CIIG offers commercial auto insurance that provides various coverages such as collision coverage, rental reimbursement, liability coverage, and personal injury protection.
Here’s what you need to know about commercial auto insurance and how CIIG can help you choose the best coverage.
What is Commercial Auto Insurance?
Commercial auto insurance is a policy that covers liability and physical damages for trucks, vans, cars, and other vehicles used by your business. It may also cover the drivers of these commercial vehicles.
Typically, the commercial auto insurance you get from CIIG will have three parts:
Physical damage insurance – This includes comprehensive and collision coverage
Liability insurance – This includes property damage, bodily injury, uninsured and underinsured motorist coverage
Other coverage – This includes towing, medical payments, rental reimbursement, labor, and lease gap or auto loan coverage
How Does Commercial Auto Insurance Work?
If you or your business’s driver causes an accident resulting in an injury to another person or damage to property, the afflicted person can file a claim on your policy or sue for damages. Commercial auto insurance covers the cost of the damages up to the policy’s limit. Any damages above the limit will be billed directly to your business.
Your liability insurance will cover the costs of the lawsuit, separate from the policy’s limit.
When Do You Need Commercial Vehicle Insurance?
Various instances necessitate having commercial auto insurance. If you hire, lease, own, or use vehicles for business, you should minimally have liability coverage. This policy is mandatory in most states.
According to federal law, businesses that move people or goods across state lines must also have liability coverage. Larger commercial vehicles may also need a commercial truck insurance policy.
Typically, you’ll need commercial/business auto insurance for vehicles that:
CARRY A COMMERCIAL LICENSE PLATE OR TAG
ARE USED FOR BUSINESS
ARE REGISTERED COMMERCIAL
You should also have commercial auto insurance if you or your employees use vehicles for work-related tasks. These include:
Going on sales calls
Driving clients to the airport
Shopping for office supplies
Taking packages to a shipper
You may also be required to purchase additional coverage if your vehicle is used for special purposes such as:
Acting as a taxi, chauffeur, or limo service
Delivering products, food, and publications
Transporting hazardous or flammable material
Trucking and moving freight
What Does Commercial Vehicle Insurance Cover?
Commercial auto insurance typically provides coverage for the following:
Collision or comprehensive physical damage loss to your business vehicles
Damages sustained by occupants of your business vehicle due to negligence of an underinsured or uninsured motorist
Medical expenses for injuries to the occupants of your business vehicle
Commercial auto insurance covers physical damages on vehicles your business owns, leases, hires, and uses. Liability coverage covers bodily injury and property damage caused to others by your insured business vehicles.
Physical damage coverage includes collision loss and comprehensive loss. Liability coverage includes bodily injury coverage and property damage coverage.
The most common coverages you can get from CIIG’s commercial auto insurance policy include:
This cover pays for bodily injury or death caused by an accident where you or your business vehicle’s driver was at fault. It also provides you with legal defense in most cases.
What Options and Add-Ons Can You Get with Commercial Auto Insurance?
Beyond the basic coverage options, CIIG offers customized business auto insurance policies that suit various business types and needs. Some of the options and add-ons you can get include the following:
Auto Loan or Lease Coverage
New Vehicle Replacement Cost Coverage
Hired Auto Physical Damage with Loss of Use Coverage
What’s the Coverage for Tools, Materials, Drivers, and Trailers?
Commercial auto insurance typically does not cover unattached tools and materials transported in your business vehicle. Conversely, the policy covers employees, family members, and other drivers who operate the business vehicle on more than an emergency basis.
However, you must add these drivers to the policy.
Additionally, commercial auto insurance policies cover trailers up to 2,000 pounds gross weight. Trailers grossing a higher weight must be added to the policy.