Commercial Auto Insurance insures your vehicles for physical damage and liability coverages for amounts, situations, and usage not covered by a personal auto policy. This type of business insurance covers a variety of vehicles and is also referred to as commercial car insurance, truck insurance, or fleet insurance. Our agents at Stampede Insurance will help you find the best coverage you need for your business.
In general, if an auto is used in tasks related to the operator’s occupation, profession, or business, other than commuting, a commercial policy is necessary.
Commercial auto insurance, like your personal auto policy, provides similar coverages such as liability, collision, comprehensive, medical payments (or personal injury protection), and uninsured motorists coverage to California businesses. However, there are also differences between a commercial auto insurance policy and your personal auto policy that may include eligibility, definitions, coverages, exclusions, and limits.
Most Commercial auto policies are “named driver only” policies, meaning only those drivers listed on the policy can operate a covered auto.
Here are some frequently asked questions about commercial auto insurance you should know about before getting one:
State coverage requirements, age, and the brand and model of the car are the most important elements that influence car insurance premiums. The more coverage your state requires and the higher the value of your vehicle, the more you’ll pay for auto insurance.
The first step to getting cheaper commercial insurance is to look around. Next, compare several insurers’ coverage and quotes for business insurance. Another good alternative is to combine policies since insurance coverage can be combined with savings.
Ensure your policy is unique by selecting cost-cutting choices for your insurance policies.
Lastly, take care of your dangers and review your auto and equipment schedules.
If you use your car solely for personal purposes, you will most likely be unable to deduct your car insurance costs on your tax return. You are unlikely to be able to claim your auto insurance premium on your tax return unless you use your automobile for business reasons.
You should be able to report the collision to your insurance carrier without filing a claim. Some insurance carriers require it. If you don’t disclose it and the other driver files a claim, your situation may grow more problematic.
No, but it’s highly encouraged because you can notify your insurance carrier without submitting a claim that a collision occurred. However, It is required by some insurance carriers for small businesses to get a policy.
With many different options, commercial car insurance can be confusing. We can help you with your commercial vehicle insurance needs in multiple states. Contact one of our agents at Stampede Insurance for your commercial auto insurance needs.