If you have a personal vehicle, you already know there are different types of coverage that you discussed with your independent insurance agent. Commercial auto insurance is similar to your personal auto insurance. There are various coverages, some required, and some optional. However, before you say no to any of this coverage, analyze whether or not your business can afford to not have coverage.
1. Liability: Just as with your personal vehicle, you are also required to have liability coverage for commercial vehicles. Liability can cover bodily injury and property damage that you or a company employee cause while driving a work vehicle.
2. Property Damage: If your work vehicles cause property damage to another vehicle or building, then property damage insurance can pay to repair or replace what is damaged. Examples of what might be included are cars, fences, utility poles, mail boxes, houses, garages and pets.
3. Bodily Injury: If one of your commercial vehicles is in a vehicle accident and someone is injured, this insurance can help pay the expenses and pay for the legal fees. The payment is for individuals who are not employees of the business.
4. Physical Damage: Just as with your personal vehicle, you want to be sure your commercial vehicle is covered in case of theft, fire or a collision. Physical damage insurance includes auto accidents, chemical spills that damage property and if something falls off your commercial vehicle and damages another vehicle.
5. Comprehensive: Just as with your personal vehicle, this coverage for your commercial vehicles pays for damages due to fire, hail, flood, windstorm, theft, vandalism and collisions with animals. Comprehensive doesn't pay for damage to another vehicle, which is why you also need collision coverage.
6. Uninsured and Underinsured: Not everyone driving has enough insurance to replace your commercial vehicles if they cause an accident. This insurance would cover you if the other driver does not have insurance or has very little insurance.
As you can see, these are very similar to coverages for a personal vehicle. Just as you talked with an independent agent to insure your personal vehicle, please call and insure your commercial vehicles as well.
Our agents are happy to assist you. Call Texas Insurance Agency at (713) 921-8000 for more information on Houston commercial auto insurance.