Understanding Commercial Auto Insurance Coverage

If your business requires yourself or your employees to drive company vehicles on a regular basis, you will need some type of commercial auto insurance coverage. Many businesses in Chicago have already taken advantage of Great Northern Insurance Agency’s competitive rates. Let us help you get the commercial policy you need.

What Does it Cover?

There are four major things that are protected when you take out a commercial auto insurance policy. They include:

  1. Liability. This type of coverage pays for any of the property damages done or bodily injury incurred by the other party in the event of an automobile accident. On occasion, it is also used for attorney fees and settlement costs.
  1. Medical. If you want your employees and possible clients to have their medical bills covered, regardless of who is at fault in the accident, then you want to ensure that your policy has medical payment coverage.
  1. Collision. Where liability pays for the other person’s property, collision covers your own property even if the accident is your fault. Other things that can be covered under this policy if it is considered comprehensive include theft, damage from inclement weather, and windshield repair.
  1. Uninsured. Sometimes your commercial auto insurance is needed not because your driver was at fault, but because the other driver does not have any auto insurance. While it is against the law to not have coverage in Chicago, there are plenty of people who still take the risk. This addition to your policy will cover your property and medical damages if the other person is uninsured.

Will a Personal Policy Cover a Commercial Vehicle?

It is possible that your personal policy will cover your commercial use of your vehicle. Things like taking a client to lunch in your own car are usually allowed on your personal policy. However, if you use your car while working for Uber, your policy may not cover that. You need to check with your agent and see what is allowed.

If you are ready to discuss the many reasons that your business needs to take out a commercial auto insurance policy, call our Chicago office. One of our dedicated staff members will be happy to provide you with the information that you need. He or she will also be able to help you decide what levels of coverage you may need. You can rely on Great Northern Insurance Agency to steer you in the right direction.

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