A commercial vehicle insurance policy provides coverage for vehicles that are used for business purposes. For example, you need commercial vehicle insurance if you or employees drive to multiple job or client locations each day, drive clients to a work event, transport tools and equipment to a construction site, or deliver goods to paying customers.
If you are involved in a car accident while engaged in a business activity, your personal auto insurance policy will not apply. You would have no insurance coverage for any of the repair, replacement, liability, or medical costs.
What kinds of coverage do commercial vehicle insurance policies provide?
Most commercial vehicle insurance policies include 4 kinds of coverage.
First, liability coverage. If a driver causes an accident while working, these policies cover injuries, deaths, and property damage.
Second, personal injury protection, regardless of fault, to cover medical costs related to the accident. The coverage applies to the driver and any passengers.
Third, uninsured motorist coverage. If you or an employee are hit by an uninsured or hit-and-run driver, your injuries and sometimes property damage are covered. Some policies also cover costs when the at-fault driver is underinsured.
Fourth, comprehensive and collision coverage for damage from theft, vandalism, flood, fire, and being hit by an object.
Let the experts at Koch Insurance Group put together the commercial vehicle coverage that will safeguard your business from the costs and liability of auto accidents.