Business Auto Insurance
Commercial Automobile insurance provides protection for automobiles used in the course and scope of business. Marshall Insurance offers a comprehensive commercial auto product to ensure that company vehicles, as well as the employees who operate them, are properly protected.
Types of Coverage*
A commercial automobile policy can provide liability and physical damage coverage for both small and large fleets of commercially owned vehicles. Commercial Auto Vehicle coverages include:
- Liability Coverage
- Uninsured Motorists Coverage
- Underinsured Motorists Coverage
- Physical Damage Coverage
Frequently Asked Questions
What is the cost of commercial automobile insurance?
The cost can vary. There are many independent factors that impact what you will pay for commercial auto insurance such as the type of the vehicles, driving history, garaging location(s) and the coverages or limits you select.
Is there difference between a fleet and non-fleet commercial auto policy?
A fleet is defined as five or more self-propelled autos under one ownership and used for business purposes. A policy with less than five self-propelled autos is considered a non-fleet policy.
If I have personal insurance, do I need commercial auto insurance?
A commercial auto insurance policy provides coverage for commercially owned vehicles used in business operations. A personal auto policy provides coverage for personally owned vehicles that are operated by individuals or family members for personal use.
What is provided under Physical Damage Coverage in a commercial auto policy?
Physical Damage Coverage protects your owned autos against accidental loss or damage, including:
- Collision coverage – protection against damage and loss in the event of an accident
- Comprehensive coverage – protection against damage or loss caused by something other than a collision such as hitting an animal or theft
- Specified causes of loss coverage – protection against specified peril such as vandalism, hail or fire
6 Commercial Auto Risks that Can Increase Insurance Rates
Over the past decade, auto insurance rates have increased steadily; well exceeding the rate of inflation over the same period. But what’s driving this upward trend? Explore six factors that have significantly impacted the rates for commercial auto.
Bodily Injury Loss Costs
While the frequency of auto claims involving bodily injury has fallen over a recent 9-year period, the average cost of claims that do involve bodily injury increased by 32% over the same period.
With attorneys actively pursuing auto accident business, more claimants now have legal representation. These claims see higher rates of expenditures for medical procedures and treatment. A complete fleet management program can help reduce your exposure.
Distractions behind the wheel, from vehicle info-tainment systems and mobile devices to driving under the influence, can lead to significant risks. 70% of Americans worry about being in an accident, caused by another driver’s distractions.
A shortage of commercial operators is leading to increased rates of drivers switching companies, and increases the chance that less-experienced drivers are behind the wheel. Operators in new vehicles and covering new routes can also contribute to an increase in accident rates.
Vehicle Repair Costs
Newer vehicles are outfitted with advanced materials and technologically-advanced systems designed to make driving more comfortable and safer. When these vehicles are involved in an accident the costs can be much higher. Even minor crashes can result in $3,000 in extra repair costs when sensors are involved and recalibration is needed.
An auto claim can cause significant disruption, taking vehicles off the road and slowing or stopping your operation. Having an established business continuity plan can help your organization prepare for and overcome such an interruption.
*Coverages and options may not be applicable to all carriers.
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