Commercial auto insurance is a type of insurance policy designed to provide coverage for vehicles used for business purposes. It's similar to personal auto insurance, but it's tailored to the unique risks associated with commercial vehicles and business operations.
Here are some key features of commercial auto insurance:
Liability Coverage:Â This provides protection if your business vehicle is involved in an accident and you're found to be at fault. It covers bodily injury or property damage to others.
Collision Coverage:Â This covers the cost of repairing or replacing your vehicle if it's damaged in a collision, regardless of fault.
Comprehensive Coverage:Â This covers damage to your vehicle from non-collision incidents such as theft, vandalism, fire, or natural disasters.
Medical Payments Coverage:Â This covers medical expenses for you and your passengers if you're injured in an accident, regardless of fault.
Uninsured/Underinsured Motorist Coverage:Â This protects you if you're involved in an accident with a driver who doesn't have insurance or doesn't have enough insurance to cover your damages.
Cargo Coverage:Â If your business involves transporting goods, cargo coverage can protect the value of the goods being transported.
Commercial auto insurance is essential for businesses that rely on vehicles for their operations. The coverage provided helps protect the business from financial losses associated with accidents, injuries, and property damage involving company vehicles. The specific coverage and cost of commercial auto insurance can vary depending on factors such as the type of vehicles, the nature of the business, the driving records of employees, and the coverage limits chosen.
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