Hiring safe drivers and having dependable vehicles, while maintaining an accident-free driving record, is critical to your company’s success. Commercial Vehicle Insurance can help cover a variety of vehicles. Commercial Vehicle Insurance, like your personal auto policy, provides similar coverages such as liability, collision, comprehensive, medical payments (or personal injury protection), and uninsured motorist coverage. However, there are also differences between a commercial auto insurance policy and your personal auto policy that may include eligibility, definitions, coverages, exclusions, and limits.
- Bodily Injury Liability Coverage pays for bodily injury or death resulting from an accident for which you are at fault and in most cases provides you with a legal defense.
- Collision coverage pays for damage to your vehicle when it hits or is hit by another object.
- Combined Single Limit Liability (CSL) policies typically offer separate limits that apply to bodily injury claims for property damage. A Combined Single Limit Liability policy has the same dollar amount of coverage per covered occurrence whether bodily injury or property damage, one person or several.
- Comprehensive Physical Damage Coverage pays for damage to your vehicle from theft, vandalism, flood, fire, and other covered perils.
- Garage Keepers Legal Liability pays for a customer’s vehicle when you are keeping it at a covered location for parking, storing, or to perform service.
- Medical Payments, No-fault, or Personal Injury Coverage usually pays for the medical expenses of the driver and passengers in your vehicle incurred as a result of a covered accident regardless of fault.
- Hired & Non-Owned including Physical Damage: Hire Car coverage can either supplement or replace a car rental agency’s liability coverage (doesn’t cover physical damage). Non-owned auto coverage protects you if you are sued due to an auto accident while one of your employees is on company business in a personal vehicle.
- Property Damage Liability Coverage provides you with protection if your vehicle accidentally damages another person’s property and in most cases provides you with a legal defense.
- Towing & Rental Car pays for towing and rental car expenses while your car is being repaired.
- Uninsured Motorist Coverage pays for your injuries and, in some circumstances, certain property damage caused by an uninsured or a hit-and-run driver. In some cases, Under-insured Motorist Coverage is also included. This is for cases in which the at-fault driver has insufficient insurance.
You need a personal insurance agent to sort it all out! Covington Insurance Agency is an independent insurance agency dedicated to finding you the comprehensive insurance coverage you need at a competitive price.
Contact us today for an insurance assessment and free personal insurance quote.