Many businesses in New Jersey require their employees to travel for work-related purposes. Protecting these employees and the vehicles they use while traveling is essential. Creative Risk Management LLC offers commercial auto insurance policies designed to safeguard your employees and vehicles during work activities.
Understanding Commercial Auto Policy Coverage
Commercial auto insurance policies typically include the same types of coverage as personal auto policies, such as liability, collision, comprehensive, medical payments, and uninsured/underinsured motorist coverage. However, there may be subtle differences between the two. It’s important to understand these distinctions when purchasing your policy and to select coverage limits that best suit your business needs. Some companies may require specialized coverage for delivery vehicles or construction equipment.
Optional add-ons for commercial auto insurance include:
- 24/7 roadside assistance
- Replacement cost coverage
- Expanded towing
- Auto loan/lease coverage
Standard exclusions include intentional damage, damage caused by pollutants, and injuries covered by workers’ compensation.
Types of Vehicles Covered
While commercial auto insurance is often associated with trucks, these policies can cover a wide range of vehicles. You can insure virtually any vehicle used for business purposes, including passenger cars, vans, buses, and specialized equipment such as food service and utility trucks. Essentially, if a vehicle is used for your business, it can be insured under a commercial auto policy.
Does Commercial Auto Insurance Cover Personal Vehicles?
Small business owners often allow employees to use their personal vehicles for work-related travel. Some commercial auto policies can extend coverage to personal vehicles, but this requires a specific add-on provision. With this provision, coverage is similar to that for vehicles owned outright by the business. In some cases, this coverage may also extend to rental cars used in the employee’s name.
To learn how you can customize your commercial auto policy to protect your business investment fully, contact Creative Risk Management LLC, serving residents and businesses in New Jersey. Call our office today to get started.
