Commercial Auto

Commercial Auto Insurance Policies

Chicago Insurance Advisors


A business owner who has two or more cars used for business purposes should consider commercial auto insurance. Read this quick article to learn more about commercial automobile insurance and coverage.

What It Is

Commercial auto insurance is insurance coverage for trucks, vans and cars for business purposes. This coverage is often required for small businesses with a few cars as well as large businesses that have a fleet of vehicles. Coverage protects the business owner, the business and the employees. Commercial auto insurance is different from regular auto insurance, as it covers several vehicles and offers additional coverage for incidents that might happen to a business vehicle.

Who Needs It

Any business that requires vehicles for their business operations needs commercial auto coverage. This coverage is preferred for business vehicles because it offers coverage above and beyond a basic auto insurance plan. You could get a traditional auto insurance plan for business vehicles, but it will not be as extensive as a commercial auto insurance plan.

Your business may or may not need commercial auto insurance. You need it if your business uses vehicles to transport products as a service or if employees drive the vehicles for work purposes. It’s also necessary if the vehicles carry heavy loads or the business requires high liability limits. A business that is a corporation or partnership also needs commercial insurance.

How it Works

Commercial automobile insurance offers protection for all business-related vehicles and employees. It reimburses the owner for vehicles damaged in accidents, and provides financial protection if an employee is sued due to their involvement in an auto-related business accident.

Types of Coverage:

  1. Combined single limit 
  2. Comprehensive/physical damage 
  3. Bodily injury liability 
  4. Property damage liability 
  5. Collision
  6. Uninsured motorist coverage 
  7. Personal injury or no-fault insurance
  8. Medical expenses

When shopping for a policy, you may see this insurance as truck insurance, commercial car insurance or fleet insurance.

Benefits

The most important benefit of having this insurance is the protection it provides. Your business and your employees are covered against damage, medical expenses, lawsuits and uninsured motorists.

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