Commercial insurance is a central part of running any business that makes use of work vehicles, and helps protect you and your business from financial damages associated with a a whole host of different factors. However, there are a wide range of different commercial automotive policies available on the market, each of which covers your fleet from different types of damages. Understanding the differences between the main available types of commercial automotive insurance can help you choose the one that is the best fit for your company's needs.
This type of commercial automotive insurance claims made against your company due to an accident involving one of your work vehicles, ranging in coverage for bodily injuries and medical payments for other people involved to coverage of damaged property and vehicles. This is the most basic type of commercial automotive insurance, and covers your company against most general damages and associated costs. However, keep in mind that general liability plans won't cover you for damage that your employees and vehicles experience.
Driver Protection Coverage
This type of commercial automotive insurance is designed to cover any medical bills or injuries that you or one of your employees experiences while driving a company vehicle. It won't cover damage to the vehicle, or any other damages associated with the accident, but can help protect you from worker's compensation and your employees from lost wages due to disability. For businesses that deal with animals, keep in mind that any related injuries to pets and animals will require a specific pet injury coverage plan, which is usually sold as an amendment to standard driver protection plans.
Vehicle Protection Coverage
Like the name would suggest, this type of commercial automotive insurance is designed to protect your vehicle from all sorts of damage. This includes weather damage, collision damage, and even damage associated with things like fire and theft. The more comprehensive the plan is, the less likely it is you'll have to pay to repair or replace any damage to your vehicle.
Non-Owed Vehicle Insurance
Non-owned vehicle insurance is a specialty type of commercial automotive insurance that extends your existing coverage from your commercial plan to vehicles that you use for business purposes that aren't covered under the company's plan. This is only really necessary if you occasionally have to use personal, rental, or some other type of vehicle during the work day, which only applies to certain work situations.