Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.
Even the best driver can get into an auto accident. If that driver is your employee, the resulting legal fees, medical bills, and repair costs could be a major financial setback for your printing company.
Commercial auto insurance helps cover the cost of accidents in a business-owned vehicle. The median premium is about $140 per month, which makes it a good investment if your business owns a truck to deliver printed materials, a van to transport employees, or any other vehicle.
This policy isn't only a smart business decision – it's usually required by law. Most states require a minimum amount of auto liability coverage for any vehicle owned by a business.
When your business vehicle is involved in an accident, commercial auto insurance provides several important protections. If the accident harms another person or damages their property, your business could face a lawsuit. In this case, commercial auto coverage would pay for attorney's fees, court costs, judgments, and settlements up to the policy limits.
Depending on the type of coverage you buy, commercial auto insurance can pay for damage to your own vehicle as well. For example, it can help you buy a new vehicle if yours is stolen. It can also pay for repairs due to vandalism and certain other types of damage.
Your policy can be customized to match your business. For example, a van owned by a small print shop that only goes out once a week may need less coverage than a truck with an extensive daily route. States don't require collision coverage, so you might opt out of this coverage if you own an inexpensive vehicle.
In almost every state, business-owned vehicles must be covered by commercial auto insurance. You need to buy enough coverage to meet your state's minimum requirements.
Every state has its own laws for the type and amount of auto liability coverage you buy, so make sure to check your local laws or chat with a licensed agent to make sure you get the right insurance.
As with your personal auto insurance policy, you can tailor a commercial auto policy to meet your needs. Your policy may cover:
If someone files a lawsuit over an accident involving your business vehicle, legal defense costs can add up quickly. You may also have to pay a court-ordered judgment or a settlement.
Commercial auto insurance can help cover medical costs for anyone injured in an accident involving your business's vehicle.
Collision coverage is an optional purchase. It can help repair or replace your vehicle if it's damaged or totaled in an accident.
It's possible you could get into an accident with a driver who forgot to pay their premium or never bought insurance. If that happens, uninsured motorist coverage will help pay for medical bills and other costs their insurance would have covered.
Similar to collision coverage, comprehensive coverage pays for repairs or replacement of your own vehicle. However, it only covers accidents that aren't collisions, such as vandalism or a tree falling on your car.
Your personal auto insurance likely excludes coverage for business use. That means you need another policy if you drive for work – even if you use your own car.
Commercial auto insurance is only for business-owned vehicles. If you or your employees drive personal vehicles for work errands, you can look to hired and non-owned auto insurance.
HNOA provides liability coverage for employees who get into an accident while driving their own car or truck to conduct company business. It also covers vehicles that your business rents or leases.
Don't see your profession? Don't worry. We insure most businesses.
Commercial auto insurance covers risks related to your company vehicle, but running a printing business comes with many other risks. You should also consider:
General liability insurance: This policy can pay legal expenses related to customer property damage and injuries, along with advertising injuries such as slander.
Business owner's policy: A BOP is an inexpensive way for printing and copying businesses to buy general liability insurance and commercial property insurance together.
Workers’ compensation insurance: Workers' comp is required in almost every state for print shops and copy centers that have employee. This policy can cover medical expenses for work-related injuries.
Errors and omissions insurance (E&O): Also called professional liability insurance, this policy can cover legal fees of lawsuits related to your printing or copying performance.
Cyber liability insurance: This policy helps pay for expenses related to data breaches and cyberattacks, such as the cost of notifying customers that their personal data was exposed.
Are you ready to safeguard your company vehicle with commercial auto insurance? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.