The terms “commercial insurance” and ” commercial auto insurance ” are often used interchangeably. However, there’s a difference between the two. Commercial vehicles fall under another set of rules and regulations than passenger vehicles (or cars). This means that having commercial auto insurance is not enough; you need commercial liability insurance as well.
What does commercial vehicle insurance cover?
Commercial vehicle insurance covers damage to your vehicle. It also covers bodily injury and property damage, medical expenses, lost wages and legal fees related to an accident.
If you have a commercial auto policy with us, it will cover all of these things as well:
- Towing the vehicle back home or to the shop (if necessary)
- Repairs or replacement of damaged parts that are covered by the state’s lien law
What does commercial liability insurance cover?
Commercial liability insurance covers you if someone is injured on your property, or if someone sues you for damage to their property.
Commercial auto insurance protects your business’s assets in the event of an accident. It also pays for medical expenses, lost wages and court costs related to lawsuits filed against you.
How do I get coverage for my commercial auto insurance needs?
If you’re an independent contractor or business owner, it can be difficult to know the right commercial auto insurance coverage for your needs. That’s why we’re here!
There are many options when it comes to getting commercial auto insurance coverage—including contacting an agent and comparing online quotes. But before choosing one of these methods, make sure you understand:
- What deductible is included in my policy?
- How much do I need in liability coverage?
- What are my policy limits on collision/collision damage waiver (CDW) and uninsured motorist protection (UM)?
Commercial Auto Insurance, Commercial Liability Insurance and Commercial Property Insurance are three common terms that you’ll hear in your line of work.
Commercial insurance is the term for protection against the risk of loss and damage to property, caused by accident or damage. It covers everything from your business’ buildings and equipment, to vehicles used in transporting goods or people.
Commercial auto insurance provides coverage for personal injuries sustained by an insured person while using a vehicle owned by another party (the “insured”), regardless of whether that vehicle was used as part of their business operations. This kind of coverage may also be required if you have employees who drive company cars out on their own time but they’re not working at the time they get into an accident with someone else’s vehicle; sometimes called “personal use” policies.
Property insurance covers buildings owned by an individual or company, as well as other valuable assets such as machinery and tools used on site—and sometimes even computer equipment! Liability insurance protects against lawsuits brought against them due to bodily injury caused during business activities such as manufacturing products from raw materials; selling goods at local stores; delivering packages through means other than transportation networks like FedEx trucks (which are often covered separately).
Conclusion
For you to be effective in your career as an insurance agent, you need to understand the terminology around auto insurance . You may have heard these terms before but we want to make sure that our customers know exactly what they mean and how they can protect themselves from liability claims related to their vehicles.
