Your personal auto insurance doesn’t cover every aspect of your automobile. For this reason, you need commercial auto insurance coverage to supplement those parts your regular auto insurance won’t cover. Unfortunately, not every driver knows about this type of insurance, and even those who need it don’t benefit.
Keep reading this exciting post to learn more about commercial auto insurance coverage and what it does for you.
Advertisment
What Does Commercial Auto Insurance Cover?
Similar to a personal auto insurance policy, commercial auto insurance provides coverage for things like:
- Liability
- Collision
- Comprehensive
- Medical payments
- Personal injury protection
- Uninsured motorists
Advertisment
However, commercial auto insurance has distinct standards for eligibility, coverage, exclusions, and limits.
Commercial auto coverage can offer the following:
- Bodily liability injury: Damage you cause to another person gets coverage with liability for bodily injury.
- Property damage liability: This pays up if your car damages someone else’s property and a court finds you legally responsible. Similar to physical injury liability, it pays for defense cost.
- Combined Single Limit (CSL) liability: With this, there is only one overall limit for claims of property damage and bodily injury against you.
- Medical payments and personal injury protection (PIP): This will cover your vehicle’s passengers’ medical expenses in the event of an accident your policy covers. PIP is required in states with no-fault insurance.
- Collision insurance: It covers the damage that results when your car collides with or is struck by another vehicle or item.
- Comprehensive insurance: This will pay for any damage to your car caused by specific occurrences like fire, flood, theft, vandalism, and others.
- Uninsured motorist coverage (UM): This pays for your injuries and those of your passengers if an uninsured driver injures you. It also covers you if the at-fault driver is one whose auto insurance is insufficient to cover all medical bills. In some places, you can also buy UM insurance, which pays for vehicle damage brought on by uninsured drivers.
Advertisment
