Commercial Auto Insurance

No matter what you’re carrying, there are always risks that can lead to losses. Having the right Business Auto Insurance policy can help protect you, your vehicle, and the items you’re transporting. Want an insurance quote and to learn more about your industry’s exposures?



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Commercial Auto

For professional drivers, their car is not just a method of getting around. It is their source of daily income and how their customers trust them to move their goods safely. It is essential to safeguard their vehicle with an insurance plan that grasps its significance. 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.

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. They may be on the road more frequently, driving longer distances, carrying products or other potential exposures.

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Commercial Liability

Some agents or brokers refer to liability insurance as insurance for other people. The reason is that liability coverage helps cover the cost of injuries to others or damage to the property of others. Damages paid to others are referred to as 3rd party claims.

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. 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.

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Cargo Insurance

When moving goods, you are exposed to several dangers and potential losses. From severe climate conditions to vehicular accidents, it is necessary that the insurance coverage you have for your cargo is sufficient to provide protection.

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Non-Owned Auto Damage

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.

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Excess Vehicle Value

The excess value applies to heavy vehicles and commercially plated trailers. To paint a picture, please see the example below:

Ex: 2018 Peterbilt worth a total value of $85,000:

Break out the value between the plate registration and the policy. We would place $15,000 under the registration, and the remaining $70,000 would be insured under the policy as the excess value.

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.


Group Benefits

Every business, regardless of size, should have a Group Benefits plan to provide financial protection for their employees and their families. Having a Group Benefits plan in place can help to attract and retain the best talent and ensure that employees have access to the financial support they need. We proudly work with various insurance carriers to provide tailored Group Benefits plans that are customized to fit the unique needs and budget of each business. Our team of experienced professionals can help to identify the right plan and provide support throughout the process to ensure that your business has the right coverage in place.

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Additional Coverages Available:

See below for a short list of additional coverages we recommend including for your Commercial Auto Insurance.

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 that is 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.

Without Replacement Cost Coverage, your vehicle will be submitted to Actual Cash Value (ACV). ACV is an insurance term referring to the market value of an item. It relates to the cost of replacing your item minus the depreciation. If your vehicle is a total loss, the replacement vehicle will be of the same kind/quality without any depreciation. However, you can’t keep this coverage forever. It does expire after some years. Inquire with your broker when your vehicle is subject to expiration and any coverage changes that may apply to the settlement options.


Contractual Penalties

Motor truck cargo additional coverage is a type of insurance that protects the insured in the event that they are subject to contractual penalties due to late or non-delivery of 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 to cover any financial losses or expenses that may occur due to the errors or delays.


Refrigeration Breakdown

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.


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