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Commercial auto insurance for wholesalers

Commercial auto insurance icon
Commercial auto insurance

Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.

Commercial auto insurance protects the vehicles you depend on

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 truck being totaled. Your business could end up paying thousands of dollars, especially if there’s a lawsuit.

How does commercial auto insurance protect you?

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 delivery truck’s windshield.

Who needs commercial auto insurance?

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

You might need commercial auto insurance if you:

  • Own a delivery vehicle
  • Deliver merchandise to clients
  • Send employees on errands during work hours

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

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What coverage can commercial auto provide for wholesale businesses?

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

Legal expenses

If your wholesale 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.

Medical costs

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

Collision

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

Uninsured motorists

This coverage pays for damage caused by drivers who don’t have insurance coverage.

Non-collision damages

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

Personal vehicles may require additional coverage

Commercial auto insurance 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 offers coverage for wholesalers who get into an accident while driving their personal vehicle to conduct company business. It also covers leased and rented vehicles.

Other important policies for wholesalers to consider

While commercial auto insurance is required for wholesale businesses that own a car, truck, or van, it does not cover risks beyond those related to the vehicle. Wholesale businesses owners 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.

Workers’ compensation insurance: Required in almost every state for wholesale businesses that have employees, workers’ comp can cover medical costs for work injuries.

Business owner’s policy: This policy combines general liability insurance and commercial property insurance, usually at a lower rate than if the policies were purchased separately.

Umbrella insurance: Also called excess liability insurance, this policy boosts coverage on a general liability, employer’s liability, or commercial auto insurance policy once the coverage limit is reached.

Surety bonds: This bond assures a wholesale business’s clients that its insurance company will reimburse their losses if the business fails to deliver the contracted services.

Get free quotes and compare policies with Insureon

Are you ready to safeguard your wholesale 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.

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