Commercial Auto Insurance
Commercial Auto Insurance Information
Commercial auto insurance provides crucial financial protection for California businesses. If your California company uses vehicles to conduct normal business activities, you must purchase minimum amounts of insurance to comply with state laws.
Contact the commercial auto insurance experts at 800-Insurance in Hayward, California, to learn more about your business auto insurance options and get a personalized quote.
What Does Commercial Auto Insurance Cover?
California businesses must purchase commercial auto insurance to help cover third-party property damage and injuries after a car accident. Depending on your company’s needs, your agent may recommend that you also purchase other coverages and endorsements.
California Basic Liability-Only Commercial Auto Insurance
California law mandates that companies using vehicles for business purposes purchase the following:
- Bodily injury liability may help pay for third-party injuries sustained in a covered car accident.
- Property damage liability may help pay for third-party property damage after a covered car accident.
California Standard Commercial Auto Insurance
Businesses in California can purchase more than the minimum required amount of commercial auto insurance. In addition to purchasing higher liability limits than California requires, your agent may recommend adding the following coverages:
- Comprehensive coverage can help pay to repair or replace a covered vehicle after a non-collision-related accident or incident, such as vandalism, fire, theft or weather damage.
- Collision coverage can help pay to repair or replace a covered vehicle after an accident with another vehicle or object.
- Uninsured and underinsured motorist coverage can help cover bodily injury and property damage after an accident with an at-fault driver who did not have insurance or was underinsured.
- Medical payments (MedPay) can help cover accident-related medical bills for the insured vehicle’s driver and passengers, regardless of who was at fault. This coverage may also help cover deductibles or copays of other insurance types, including health insurance.
- Rental car reimbursement coverage can help pay for renting a vehicle after a covered accident while the damaged vehicle is repaired. This coverage typically has a per-day limit and total dollar amount limit.
Commercial Auto Umbrella Insurance
Umbrella insurance can help provide even more financial protection by extending the liability limits of all your company’s liability policies. If a claim exceeds the liability limits of your auto or property insurance, umbrella insurance kicks in to help cover the difference.
If your company finances or leases vehicles, your lienholder requires you to purchase full coverage insurance, which includes collision and comprehensive insurance. They may also require you to purchase gap insurance, which helps bridge the gap between the amount you owe the lienholder and your insurer’s settlement if a covered company vehicle is a total loss after an accident.
How Does Commercial Auto Insurance Work?
Your company’s commercial auto insurance policy is a contract between the business and an insurer. Your policy provides coverage as outlined in your policy declarations.
Commercial auto insurance policies are highly customizable, so it’s crucial to work closely with your agent to tailor your company’s coverage to meet your needs.
today to learn more about your California commercial auto insurance options.