Commercial Auto Insurance policies are a specialized auto insurance policy specifically designed for businesses. All auto’s that have a gross vehicle weight over 10,000 pounds must be listed on a Commercial Auto policy. Similar to the Personal Auto policy, the compulsory coverage of the Commercial Auto policy provides Property Damage and Bodily Injury protections to others. However, additional coverage can be purchased for the three main classes of commercial autos; scheduled, hired and non-owned autos.
Aside from three classes of autos covered on a Commercial Auto policy, there are several forms of Commercial Auto Insurance; Business Auto Form, Garage Form and Truckers Form. Ask our agents for more information about these coverage forms and how to add them to your Commercial Package Plan!
As previously mentioned, there are three main classes of autos covered under a Commercial Auto policy:
These three above classes are defined by nine symbols. Understanding the difference between these symbols will determine which coverage is most suitable for your business. The more common symbols used are:
The subtle difference between each symbol can be confusing. Our friendly and knowledgeable Business Line Professionals can provide clarity about these symbols and which symbols best apply to your business operations.
Commercial Auto policy provides basic liability protections to others. However, you can broaden the coverage by purchasing additional coverage parts, and endorsements.
Ask our agents about even more optional coverages and endorsements, such as Substitute Transportation or Mobile Equipment, that can be added to your Commercial Auto policy.
In order to register a vehicle in Massachusetts, the State requires all vehicles intended to be driven on public roads meet the State’s minimum insurance requirements. Thus, all businesses that own a motor vehicle need to carry Business Auto Insurance.
Some examples of businesses that might need coverage include:
Similar to the personal auto policy, there are several factors that impact a policy’s premium. A few of the items they may consider are:
Selecting a Commercial Auto policy requires carefully selecting the appropriate coverage parts, determining which symbols apply to your business needs and carefully reviewing the policy terms and conditions. Altogether, a time-consuming and tedious task. As an Independent Insurance Agency experienced in writing Commercial Auto Lines policy, our agents can quote your policy comparing multiple insurers and provide guidance on appropriate coverage levels for your business!