Introduction In today's litigious world, you (or your employees) getting behind the wheel can all too easily put your business behind the eight ball. Because you can't always oversee the way company vehicles are operated, or how other drivers will behave, a Commercial Auto Insurance Policy can help protect the assets of your business and provide peace of mind.

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Commercial Auto Insurance Coverages

Liability: Protects you in case a third party claims that you (or an employee driving an insured vehicle for business purposes) are legally liable for an accident that causes bodily injury or property damage.

Physical Damage (Collision): Provides coverage for collisions if an insured vehicle is damaged in an accident that involves overturning the vehicle or striking another vehicle or stationary object (building, telephone pole, guardrail, etc.).

Physical Damage (Comprehensive or Other Than Collision): Covers damage to an insured vehicle caused by a variety of risks, including theft, vandalism fire, lightning, hail, and flood.

Towing and Labor: Pays towing and labor charges if an insured vehicle breaks down (available for an extra premium).

Medical Payments (not required in some states): Pays for bodily injuries from an accident that involves an insured vehicle, regardless of fault, up to a set amount. Covers anyone in the vehicle, or any pedestrian injured.

Insured Vehicles

You'll need to provide the insurance company with a detailed list ( schedule ) of your fleet that gives the make, model, serial number, etc. of all vehicles covered, classified into these categories: Company-owned autos, private passenger autos, rented or hired autos, or specifically described vehicles (for example, the Oscar Meyer Wienermobile).
  

You'll also need to provide a list of all authorized drivers of company vehicles, giving their age and drivers license number.

Exclusions

Although Commercial Auto Insurance provides extensive protection for your company vehicles and drivers, you'll need to buy separate coverage for damage or liability caused by:

• Mobile equipment (forklifts, cherry pickers, front-end loaders, tractors, bulldozers, etc.).
• Pollution (except for leakage of oil or transmission fluid from an insured vehicle).
• Racing, stunt, or demolition derby vehicles.

Conclusion

Commercial Auto Insurance can provide a powerful financial resource to help keep your business in business.
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