Commercial Auto Insurance

Car Insurance for Business Vehicles

Just as your personal car insurance protects you from the financial impact of a car accident, a commercial auto policy protects your company in the event of an accident. Some policies also help to cover third-party injuries and property damage, as well as medical bills associated with an accident, while some may pay for repair or replacement of the company vehicle.

Coverage Requirements

Commercial auto liability coverage is required by the state of Ohio. This also applies if your organization finances or leases vehicles; your lienholder must carry full coverage, possibly including gap coverage.

What Policies May Include

If regular usage of vehicles is part of your organization’s business, it’s worth finding a policy that meets all your needs so you can defray the cost of an accident. Among the coverage options your insurance agent may recommend are:

  • Collision insurance, which helps to pay for damage to the covered vehicle after an accident, and is usually required by lienholders.
  • Collision insurance, which helps to pay for damage to the covered vehicle after an accident, and is usually required by lienholders Comprehensive insurance, required if you have a lienholder, which helps to pay for damages unrelated to accidents – fire, theft, vandalism, weather damage, etc.
  • Gap insurance, which may pay the difference between the amount you owe and the settlement from your insurance company on a totaled company vehicle.
  • Theft, vandalism, weather damage, etc. Gap insurance, which may pay the difference between the amount you owe and the settlement from your insurance company on a totaled company vehicle Hired and non-owned auto insurance (HNOA), which covers vehicles leased and rented by your company, as well as the company's personal vehicles.
  • Liability insurance, which covers third-party claims of property damage liability and bodily injury liability.
  • Medical payments coverage, which provides coverage for injured passengers (including you, if you're injured as a passenger) and pedestrians after an accident.
  • Umbrella insurance, which extends coverage if a liability claim, such as for bodily injury or property damage, goes beyond the limits of your company's existing coverage.
  • Uninsured/underinsured motorist insurance, which helps to pay for damages to the company vehicle in the event of an accident involving a driver who lacks their own appropriate coverage.

Reach Out Today

Reach out to ProtectALL Insurance today to learn more about your commercial auto insurance options.

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