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Your Guide to Commercial Auto Insurance

You’ve worked hard to make your business a success—which is why it needs to be protected at all costs. If you’re a business owner or employee who uses a vehicle for regular operations, then you need insurance to protect your people and your company, regardless of your company’s size. 

Ready to find commercial auto insurance that you can rely on? Below, we cover everything you need to know, from how it differs from personal auto insurance, to who needs it and how much it costs. Let’s get started!

What is Commercial Auto insurance?

Commercial auto insurance is a way to keep your business safe from the unexpected accidents that could potentially leave you in financial ruin. It offers protection in the event that you or any of your employees are involved in a vehicle accident. The related costs that arise from injuries, deaths or property damage are covered up to the policy limits, including: collision, liability, comprehensive, medical payments and uninsured motorist coverage (more on that below). 

For some, the term commercial auto insurance may bring to mind larger vehicles, such as tractor trailers or utility trucks. However, this type of insurance covers vehicles of all sizes, including cars, pickups, and SUVs.

How Are Personal and Commercial Auto Insurance Different?

The difference between personal and commercial auto insurance is more than simply who owns the vehicle. Another important distinction is how the policy limits are calculated.

That’s because personal auto insurance has separate limits for bodily injury liability and property damage liability. In comparison, commercial auto insurance is more likely to have a combined single limit (CSL). The CSL element gives you the same dollar amount of coverage per covered incident, regardless of whether bodily injury or property damage occurs. Commercial auto policies also tend to have higher coverage limits than personal policies, because business vehicles need more protection in case of accidents.

What Does Commercial Auto Cover?

Whether you’re using a vehicle to deliver goods, provide services, carry equipment or simply commute, you will need the protection of a commercial auto insurance policy if you do any driving for business purposes. In fact, most states require commercial auto insurance for business-owned vehicles in order to help pay for medical expenses and property damage. 

From a single delivery van to a fleet of tractor trailer trucks, commercial car insurance provides coverage for business vehicles in the following ways:

Some commercial policies include extra coverage, such as legal fees, towing and labor, rental reimbursement and lease gap coverage. However, they generally do not cover the items found within the vehicle, such as laptops, tools, or other business-related equipment.

How Much Does Commercial Auto Insurance Cost?

There are several factors that influence the price of a commercial auto insurance policy, including:

Taking all of the above into consideration, the average cost of commercial auto insurance (per vehicle) will run between $50 and $200 a month for the majority of small business owners. That adds up to about $600 to $2,400 annually, for each vehicle you have insured. 

However, because the cost of commercial auto insurance takes so many variables into account, that average policy price may not apply to your company. The best way to find out what you’ll owe each month is by getting a free commercial auto insurance quote that’s personalized for your business. 

How Do I Get Commercial Auto insurance?

Let’s be honest—slogging through insurance sites to compare insurance rates is no one’s idea of a good time. Unfortunately, if you or any of your employees aren’t adequately insured, the financial fallout of an accident could be devastating to your business. 

Thankfully, purchasing commercial auto insurance doesn’t have to be complicated. In fact, you can purchase a policy online and receive your certificate of insurance all within a matter of minutes. In order to receive a free customized quote, you’ll simply answer a few questions regarding:

After giving that information, you’ll have immediate access to a commercial auto insurance quote that’s uniquely tailored to the needs of your business. If you choose to make a purchase, your coverage will begin immediately after payment, and you’ll have access to your certificate of insurance.

5 Ways Commercial Auto Insurance Protects Your Business

Invest In Your Business With Affordable Auto Insurance

Ready to find commercial auto insurance for your business? We’re here to take the stress out of your search with free online insurance quotes that offer the best possible coverage rates. And because they’re so quick and easy, you can enroll and enjoy the peace of mind that your business is protected—all in a matter of minutes. Get yours today, and join the rest of the business owners and employees who are saving on their commercial auto insurance every month!

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