Any business owner or the business employees that own, lease, or rent and drive vehicles designated under the business present a liability exposure when operating company vehicles.

The coverage tends to carry higher limits and covers any automobile used in the course of business, existing or newly acquired, and taking into account such conditions as vehicle weight and load capacity. In addition, vehicles may be specifically equipped with features to perform certain tasks, such as:

• Snowplowing
• Catering
• Bathrooms
• Racing equipment
• Hydraulic Lifts
• Altered Suspension
• Ladder Racks
• Permanent Toolboxes

Most states require third party liability coverage, including bodily injury and property damage. Policies may be extended to include:

• Physical damage such as comprehensive and collision coverage
• Direct compensation for property damage
• Uninsured or underinsured motorist coverage
• Family protection
• Accident benefit coverage
• Hired or non-owned vehicle coverage

Fleet insurance is an option for businesses with 25 or more vehicles. This approach rates the number of vehicles versus rating each automobile individually.

GAP insurance is available to offset the difference between the actual value of a vehicle and the lease agreement. It was established to correct being “underwater on the lease” in the event of a loss.

One of the major benefits of Commercial Auto Insurance is the concentration on safety practices in order to keep drivers safe, cut down on the national statistics, and keep premiums reasonable. Further, establishing a traffic safety program saves lives.