Protect your business with Commercial Auto insurance.
No matter what you’re carrying, risks can always lead to losses. The proper Business Auto Insurance policy can help protect you, your vehicle, and the items you’re transporting.
Click on one of the below topics to unpack Commercial Auto Insurance:
Although fundamental plate insurance limits may be adequate for a personal driver, the exposure that business owners and commercial drivers experience can far exceed that of an average driver. A Commercial Auto policy can help cover vehicles you rent or ones you do not own.
Depending on your operations, carrying an additional Commercial Auto policy may be required as your plate registration doesn’t cover most business-related uses, and a mishap can put your business at risk.
The liability limit carried under the plate insurance is $200,000. However, depending on your individual needs or contractual obligations, a policy can increase your limit anywhere from $1,000,000 to $10,000,000. It is to satisfy a contractual obligation. However, liability risks are difficult to put a dollar value on in general due to the unpredictable nature of claim settlement. This is particularly true for injuries to others as they can very quickly add up to be a significant cost, depending on possible court decisions.
When moving goods, you are exposed to several dangers and potential losses. From severe climate conditions to vehicular accidents, your insurance coverage for your cargo must be sufficient to provide protection.
Sometimes the trailer or shipping container itself is the cargo being transported. If you are in the business of moving trailers or shipping containers that you do not own, this type of insurance coverage will protect you in the event of any physical loss or damage that may be incurred while the trailer or shipping container is in transit. This type of coverage can provide protection against losses due to theft, vandalism, collision, fire, and other perils that may occur during the course of the shipment.
Excess Auto Value
The excess value applies to heavy vehicles and commercially plated trailers.
As the owner, you do have the option to put the total value under the plate registration. However, if the value exceeds $15,000, the pricing under the plate is generally more expensive than the coverage the extension policy can offer.
Regardless of size, every business should have a Group Benefits plan to protect their employees and families financially. A Group Benefits plan can help attract and retain the best talent and ensure employees can access the financial support they need. We proudly work with various insurance carriers to provide customized Group Benefits plans to fit each business’s unique needs and budget.
Replacement vehicle coverage.
When you buy a new car, truck or SUV, you know the value will go down the day you drive it off the lot. You can add additional coverage to a vehicle purchased new and is the model from the current year or the immediate year prior. Pro tip: any accessories added to the auto purchase must be added to the policy within 120 days of purchase. To make things easier, a bill of sale should be shared with your broker so they can adequately record the replacement value.
Be ready for contractual penalties.
Motor truck cargo additional coverage is a type of insurance that protects the insured if they are subject to contractual penalties due to late or non-delivery of the cargo, erroneous delivery of cargo that does not follow specific instructions, or failure to receive written confirmation for the delivery of the shipment. This type of coverage helps cover any financial losses or expenses due to errors or delays.
Refrigeration breakdown coverage.
No more worrying about recording temperatures – just make sure you give the reefer unit the fuel, lubrication, and proper usage it needs, and you don’t need to worry anymore. This type of insurance covers any damage that results from a mechanical failure in the cooling or heating unit of a motor truck, trailer, or semi-trailer.