Commercial Vehicle Insurance
There are many areas of commercial auto insurance that are not covered by a personal auto insurance policy. If you use your personal car, truck or trailer for business or have a car or truck or fleet of cars or trucks for your business, a commercial auto policy is necessary. This policy will cover any physical damage to the automobile, truck or trailer and liability situations you or one of your employees may encounter while using a vehicle for business purposes.
One significant difference between an individual auto policy and commercial auto policy is that only drivers named on the policy may operate the automobiles and/or trucks covered on the policy.
Commercial Auto Insurance provides the following coverage:
- Bodily injury liability coverage – you are at fault for accident-related injuries to others
- Property damage liability coverage – you are at fault for damages to someone’s property like a car or home
- Comprehensive physical damage coverage – your vehicle suffers damage from weather, theft and other non-collision situations
- Collision coverage – your vehicle suffers damage in an auto accident
Commercial Auto Insurance requirements differ from state to state. Massachusetts requires business owners to have a minimum liability limit of $20,000 per person, $40,000 per accident for bodily injury and $5,000 for property damage. At Laurmark Insurance Agency we are prepared to review with you your commercial auto insurance needs and design a plan that best fits your business model. Contact us to get started.