Commercial vehicle auto insurance is defined as a coverage policy that covers the physical damage and liability coverage for amounts, situations, and usage not covered by a personal auto insurance policy. This type of business insurance policy includes many types of commercial vehicles that are used for business purposes, including company vans, to a wide variety of commercial trucks used in transports and other business vehicles.
What does an Auto Commercial Insurance Policy Cover?
Commercial vehicle insurance, like the personal auto policy, provides similar coverages such as liability, collision, comprehensive, medical payments (or personal injury protection), and uninsured motorist coverage. However, there are some contrasts between a commercial auto insurance policy and a personal auto insurance policy. These differences may include eligibility, definitions, coverages, exclusions, and limits.
Since these personal policies are not meant for businesses, they are written and rated differently. A business often needs the particular coverages found in a commercial auto insurance policy.
For Example, An employee rear-ends a sports car while driving your HVAC installation business’s truck. The accident is the employee’s fault. A business’s commercial auto insurance policy covers the cost of repairing the sports car. It can also cover the other driver’s medical expenses for injuries sustained in the crash.