Commercial auto insurance for professional services businesses

Your employees might be the safest drivers – but they still have to contend with other motorists on the road. An accident could lead to another person getting hurt, or your company car being totaled. Your business could end up paying tens of thousands of dollars, especially if there’s a lawsuit.

Commercial auto insurance costs an average of $147 per month for small businesses, which is a bargain compared to the potential cost of an auto accident.

Commercial auto insurance helps compensate for the cost of potential litigation, property damage, medical bills, and other expenses arising from an auto accident. It also covers vehicle theft, vandalism, and damage from weather events, such as a hailstorm that breaks a windshield.

If your professional service business owns a truck or any other vehicle, then you need commercial auto insurance. Company-owned vehicles must be covered by this policy.

State regulations determine how much coverage you need. Your commercial auto insurance policy must meet your state’s liability insurance requirements.

You can tailor your commercial auto insurance policy to match the needs of your professional services company. Your policy may cover:

If your business is sued over an auto accident, legal defense fees can pile up quickly. You may also have to pay a costly settlement or court-ordered judgment.

If an accident injures the driver of your company vehicle or any passengers, your policy can pay for the cost of medical care.

Collision coverage pays for damage to your business vehicle, regardless of which party is at fault.

This coverage pays for damages caused by uninsured or underinsured drivers who don’t have sufficient insurance coverage. It's often required by state law.

Comprehensive insurance covers non-collision damages, including vandalism, theft, and fire.

Commercial auto insurance covers business-owned vehicles, but sometimes sole proprietors and employees drive their own cars for business errands. For example, a tutor or personal property appraiser might drive their own car to meet clients. Personal auto policies almost always exclude coverage for business use.

Hired and non-owned auto insurance (HNOA) offers coverage for professionals who get into an accident while driving their personal vehicle to conduct company business. It also covers leased and rented vehicles.

While commercial auto insurance covers risks related to driving, it does not offer complete protection. Professional services businesses should also consider:

Business owner's policy (BOP): This policy bundles general liability insurance with commercial property insurance, often at a lower cost than if the policies were purchased separately.

Professional liability insurance: This policy can help cover legal expenses if a business is sued for unsatisfactory work. It's also called errors and omissions insurance (E&O).

Cyber liability insurance: This policy helps businesses survive data breaches and cyberattacks by paying for recovery expenses and associated costs.

Workers’ compensation insurance: Required in nearly every state for businesses that have employees, workers’ comp covers medical costs and lost wages for work-related injuries.

General liability insurance: This policy helps pay expenses related to customer property damage and injuries, such as a client tripping on an uneven step at your business and spraining an ankle.

Are you ready to safeguard your professional services 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.