Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.
Whether meeting with clients, scouting properties, or driving prospective buyers to showings, real estate agents drive… a lot. Driving creates a huge risk for small businesses. Commercial auto insurance can help cover accidental damage or bodily injury caused while driving a business-owned vehicle.
This policy can help pay for:
Company-owned vehicles must be covered by commercial auto insurance. State regulations determine how much coverage you need. Your commercial auto insurance must meet your state’s liability insurance requirements.
If an employee gets into a car accident while driving a business vehicle, commercial auto insurance can help pay for damages. These include:
In the event of injury, commercial auto insurance can cover medical expenses for yourself and others, regardless of who’s at fault in the accident. This can include:
If a tree branch lands on your parked truck and shatters the windshield, or a vandal breaks a window in your van, commercial auto insurance can pay for repairs. It can also cover:
Even though it’s required by law, not all drivers carry insurance. When uninsured motorists cause accidents, they may not be able to cover damages. Commercial auto insurance safeguards you from having to foot the bill. It can help pay for:
Commercial auto insurance only covers business-owned vehicles, but sometimes employees drive their own cars for business errands. Personal auto policies almost always exclude coverage for business use.
Hired and non-owned auto insurance provides liability coverage for real estate professionals who get into an accident while driving their personal vehicle to conduct company business. It also covers leased and rented vehicles.
Commercial auto insurance covers your business vehicle, but real estate professionals face many other risks. No matter your field of expertise, accidents can happen. Other policies to consider include:
Business owner's policy (BOP): This policy combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.
Cyber liability insurance: This policy helps real estate businesses survive cyberattacks and data breaches by paying for recovery expenses and other associated costs.
Errors and omissions insurance (E&O): Also known as professional liability insurance, this policy can cover legal costs of lawsuits related to your business decisions.
Are you ready to safeguard your real estate business 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.