A commercial vehicle is a type of vehicle that is used for carrying goods or passengers. Examples of commercial vehicles include: Truck, Semi truck, Van, Bus, Motor Coach, Taxicab, Box truck, or Tractor Trailer. A Commercial vehicle policy provides coverage for any business-owned or leased commercial vehicle. A basic commercial policy is likely to provide the following coverage:
Bodily Injury Liability
Provides coverage for injuries or death your business may be found liable due to an accident involving your vehicle. In addition to the limit of liability you select, the insurer will pay for all defense costs that may incur on your businesses behalf should the insurance carrier choose to defend the claim.
Property Damage Liability
Provides coverage for damage your commercial vehicle caused to someone else's property.
Medical Payments or Personal Injury Protection (PIP)
Provides coverage for the treatment of injuries to the insured driver, the insured’s passengers and pedestrians. PIP may cover medical payments, lost wages, the cost of replacing services and funeral services.
You may also request your policy include the following coverage:
Collision
Provides coverage for damage sustained to your vehicle or equipment due to a collision. The collision can be with another motor vehicle, a fixed object or a vehicle rollover.
Comprehensive
Provides coverage for damage sustained to your vehicle that doesn't involve a collision with another vehicle or fixed object. Such as; fire, theft, falling objects, explosion, earthquake, flood, riot or striking an animal.
Uninsured Motorist Coverage
Provides coverage for your injuries as a result of a collision with an uninsured negligent driver.
Underinsured Motorist Coverage
Provides coverage for your injuries when a negligent driver has an auto policy but their limits of liability are inadequate and can not pay for all of your damages.
Additional Expense
Provides coverage for necessary additional expenses incurred as a result of a loss under your collision or comprehensive coverage. Expenses may include; lodging, food, or a rental vehicle.
Employer's Non-Ownership Liability
Provides coverage for a private-passenger automobile used in the business of the named insured by any of the employees.
Hired Auto Liability Coverage
Provides coverage for bodily injury and property damage caused by a vehicle you hire (including rented or borrowed vehicles) or caused by non-owned vehicles (vehicles owned by others, including vehicles owned by your employees).
Hired Auto Physical Damage
Provides physical damage coverage for an automobile that is hired, borrowed or leased on a short term basis only to be used for the insured's business.