Commercial Auto Insurance
Commercial Auto Insurance Information
Commercial Auto Insurance in Virginia
Matt Roenker Insurance is committed to helping all our customers research, compare and enroll in the policies that are designed to offer them the most comprehensive level of protection at the most affordable prices. No one should go without quality benefits, especially business owners who not only have liabilities to minimize, but also a bottom line to protect.
One of many business insurance policies that your business might need is commercial auto insurance. It’s there to ensure that your company never sustains significant losses just because one of its company drivers or vehicles runs into trouble.
To get the policy that is perfect for you, call us at (757) 671-1111 or request your free quote now!
Common Commercial Auto Insurance Questions
Why do I need commercial auto insurance?
If you are a business owner, then you might own a fleet of vehicles in order to make deliveries or house calls with clients. Or, you might even allow your employees to operate their own vehicles in the course of their duties.
In either case, those drivers and vehicles are operating under your business’s authority. Should accidents happen, the business could be the party to face a financial setback. Commercial auto insurance will provide the business with the necessary protection nonetheless. It’s designed to cover the costs of unexpected, unavoidable vehicle accidents on behalf of the company, so that you never face such a challenging setback that you won’t be able to recover financially.
What does commercial auto insurance cover?
The average commercial auto policy can offer numerous benefits, each of which can apply to different loss scenarios involving your vehicles or drivers. These include:
Hired/Non-Owned Auto Liability Insurance: This liability coverage extends to vehicles not owned by the business but used by them for business purposes. These might include employees’ personal cars or vehicles that you rent or hire to use temporarily.
Collision Insurance: This covers damage to your own vehicle that you sustained in a wreck.
Comprehensive Insurance: This coverage pays for damage from non-accident mishaps, such as weather damage, fires, theft, vandalism or similar accidents.
Medical Payments/Personal Injury Protection: If you get hurt in an accident, this coverage can pay for your medical bills. Sometimes, it will cover other losses, such as lost income.
Uninsured/Underinsured Motorist Insurance: This insures you against damage caused by someone else who doesn’t have appropriate liability coverage. If you are the victim of a hit-and-run, for example, then this coverage can pay for your car’s damage.
Additionally, other policies and endorsements might help you expand your benefits, such as:
You will also need to add other benefits like inland marine insurance or motor truck cargo coverage to your policy portfolio in order to insure the equipment or cargo transported within these vehicles.
When is commercial auto insurance required?
Numerous vehicles might need commercial auto insurance, including:
Vehicles owned by a business
Employees who drive their personal cars on business-related errands
Company cars provided to employees for commercial and private use
All commercial auto insurance policies must contain minimum amounts of coverage as required by Virginia law. These are:
Bodily Injury Liability Coverage: $25,000 per person/$50,000 per accident
Property Damage Liability Coverage: $20,000 per accident
Commercial truckers and others must also meet minimum coverage standards set by the Federal Motor Carrier Safety Administration (FMCSA). If you have financed your vehicles, then you might also be required to purchase collision, comprehensive and other physical damage benefits.
You are highly recommended to carry more than just the minimum amounts of required coverage, and to carry any optional benefits that will help maximize your protection against any unforeseen accidents.
Speak to your agent to learn more about your coverage needs.
How much does commercial auto insurance cost?
Numerous factors can influence the cost of your commercial auto policy, including the size of your business, the number of vehicles you want insure and where you are located.
We understand that you want to get as affordable of a commercial auto policy as possible, and our commitment to you is that we’ll help you get the perfect combination of coverage so that you are always paying the right price for only the right amount of benefits.
Insuring Cargo Carried in Commercial Vehicles