Commercial Auto Insurance Options and Coverage

Commercial auto insurance is a must-have for businesses that use vehicles for work. This type of insurance helps protect your company from financial losses in case of an accident.

There are several types of commercial auto insurance options available, including liability insurance, collision insurance, and comprehensive insurance. Liability insurance covers damages to other vehicles or property, while collision insurance covers damages to your own vehicle.

If you have a fleet of vehicles, you may want to consider a commercial auto insurance policy that includes a business use endorsement. This endorsement ensures that your vehicles are covered for business use, even if they are used for personal errands.

Commercial auto insurance premiums can vary depending on the type of vehicle, driver experience, and business use. For example, a company with a young driver may pay higher premiums than a company with an experienced driver.

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You need to know that commercial auto insurance is a must-have for businesses that use vehicles for work. In North Carolina, all vehicles are required to carry auto liability insurance, and driving without insurance is considered a Class 1 misdemeanor.

Commercial auto insurance can help protect your business from financial jeopardy in case of an accident. If one of your business vehicles is at fault, you could face expensive lawsuits or settlements, including damage to other vehicles or property, medical costs, lost wages, pain and suffering, and more.

Some benefits of having a commercial auto policy with Progressive include 24/7 policy service, adjustable coverages, flexible billing and payment options, and highly-trained commercial claims adjusters.

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Commercial auto insurance is a type of insurance that covers vehicles used for business purposes. This is crucial because most personal auto insurance policies won't cover losses while delivering for a fee, including pizza delivery and most other delivery services.

Your personal auto insurance policy covers you while driving to and from work, but not while making deliveries, picking up supplies, and other work-specific uses. This means you could be held personally responsible for damages if you're involved in a work-related accident without commercial auto insurance.

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In North Carolina, any company that uses vehicles for business purposes must insure them appropriately with a commercial auto insurance policy. This includes vehicles owned by the business, as well as personal, rented, and leased vehicles used for work.

Commercial auto insurance can prevent you from being held personally responsible for damages in case of a work-related accident. It can also cover vehicles you own solely for work purposes, such as a landscaping pickup or a food truck.

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Having commercial auto insurance is crucial for your business's financial and legal well-being. In North Carolina, all vehicles are required to carry auto liability insurance, which can protect you from costly lawsuits or settlements.

Driving without insurance in North Carolina can lead to severe penalties, including a civil penalty fine of $50, suspension of license plates and/or vehicle registration, and even jail time for up to 45 days.

If one of your business vehicles is involved in an accident, you could be held liable for damage to the other vehicle or property, medical costs, lost wages, pain and suffering, and other related costs, which can be financially devastating.

Your business vehicle is a valuable asset, and having the right insurance policy can provide peace of mind and financial protection in case of an unexpected event.

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Commercial auto insurance policies typically include liability coverage to protect against injuries to others or damage to their property if you're at fault in an accident.

Liability coverage can be a lifesaver if you're involved in a serious accident, and it's usually a required component of commercial auto insurance.

Collision coverage pays to repair or replace your vehicle if it's damaged in an accident, while comprehensive coverage helps pay for repairs or replacement if your vehicle is damaged by something other than a collision, such as theft, vandalism, or severe weather.

Here are some common types of commercial auto insurance coverages:

If you're involved in an accident, rental reimbursement can provide a big relief. It pays for a rental car up to the limits of your policy so you have transportation after an accident.

You can use the rental car to get around while your vehicle is being repaired. Rental reimbursement covers the cost of the rental car, giving you peace of mind.

The daily limit for rental reimbursement varies. Get up to $100 per day if your car is in the shop.

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Your car insurance policy can cover a lot of things, but what exactly does it cover? Comprehensive and collision damage to a leased or rented vehicle is covered under a hired auto physical damage policy.

If you drive for business, you may need more extensive coverage than a personal car policy provides. This is where a commercial auto policy comes in, offering more protection for your business needs.

A hired auto physical damage policy also covers any contractual obligations to the leasing or rental company, so you can rest easy knowing you're meeting your responsibilities.

If you have employees who drive your company cars, a commercial auto policy can cover them up to the limits of the policy, giving you peace of mind on the road.

In case of an accident, a rental reimbursement policy can pay for a rental car up to the limits of your policy, ensuring you have transportation while your car is being repaired.

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Commercial auto insurance costs can vary significantly depending on several factors. The average monthly cost is around $147, but 37% of Insureon small business customers pay less than $100 per month for their policies.

Commercial auto insurance costs can range from under $75 to over $200 per month. According to our data, 11% of customers pay less than $75, 9% pay between $75 and $100, 23% pay between $101 and $150, 20% pay between $151 and $200, and 37% pay over $200.

The cost of commercial auto insurance also depends on the limits of your policy. Most customers choose a policy with at least $1 million limits, but higher limits will increase your premium.

Some common factors that influence the cost of commercial auto insurance include the number of vehicles, vehicle type and value, level of risk involved, location, claims history, employee driving records, and policy deductible and limits.

Here's a breakdown of the median monthly costs for commercial auto insurance through Progressive in 2023:

Keep in mind that these are just general estimates, and your actual premium may be higher or lower depending on your specific business needs and circumstances.

Choosing the right insurance options for your commercial auto policy can be overwhelming. Lower limits will save you money, but you'll have higher risks if you don't get enough coverage.

A deductible is the amount of money you pay before your insurance policy kicks in. If you choose a higher deductible, you'll pay less for the policy.

Contacting your insurance provider for guidance is a good idea if you're unsure which type of coverage and limit amounts are right for your business.

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Commercial auto insurance can protect vehicles your business owns, rents, or leases. This type of insurance can be a lifesaver in case of an accident or other unexpected event.

We insure several vehicle types, including commercial autos. This means that if you have a company car or a fleet of vehicles, you can rest assured that they're covered.

Commercial auto insurance can also protect vehicles that are rented or leased. This is especially important if you're a small business owner who can't afford to replace a vehicle if it's damaged or stolen.

Some examples of vehicles that are insured through commercial auto insurance include company cars, vans, and trucks. These are all common types of vehicles that businesses use for transportation.

We also insure larger vehicles such as semi-trucks and buses. These vehicles are often used for transporting goods or people, and they require specialized insurance coverage.

Overall, commercial auto insurance can provide peace of mind and financial protection for businesses that rely on vehicles for transportation.

Choosing the right insurance for your business can be a daunting task, but with Progressive Commercial, you're in good hands. They insure over 1.9 million commercial vehicles, making them America's #1 commercial auto insurer.

Progressive Commercial offers flexible and convenient benefits that let you focus on what matters most – your business. Their custom policies can be adjusted any time to fit your changing needs.

One of the biggest advantages of having a Progressive Commercial auto policy is the 24/7 policy service by phone or online. This means you can get help whenever you need it, without having to wait until regular business hours.

With Progressive Commercial, you can also enjoy flexible billing and payment options. This helps you stay on top of your expenses and avoid any last-minute surprises.

If you're worried about claims, don't be. Progressive Commercial has highly-trained commercial claims adjusters who will work with you to resolve any issues quickly and efficiently.

If you're looking to save money, Progressive Commercial offers a range of discounts and incentives. For example, enrolling in Snapshot ProView can save you 5% automatically, and businesses with an established safety record can save between 8% and 20%.

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You can get free quotes for commercial auto insurance online with NEXT, which will ask you basic questions about your business to create a customized quote.

To start, simply answer a few questions about your business and NEXT will provide you with an instant quote.

With NEXT, you can adjust the limits of your quote as needed, and if you decide to purchase, you'll be covered as soon as you buy the insurance.

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You'll also have instant access to your certificate of insurance and can use self-service tools to pay premiums, add an additional insured, and file claims.

Alternatively, you can use Insureon to compare quotes for North Carolina commercial auto insurance and review quotes specific to your business and industry.

Insureon makes it easy to complete one easy application and get quotes from leading U.S. insurers.

You can start an application for commercial auto insurance quotes today with Insureon.

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If you use your personal vehicle for work, your personal auto policy won't cover you in case of an accident. This is why many small business owners purchase hired and non-owned auto insurance (HNOA).

This liability policy covers accidents in personal, leased, and rented vehicles used for work purposes. It's a crucial investment for businesses that rely on personal vehicles for work errands.

If you or an employee gets into an accident while driving a personal car for a work errand, your HNOA coverage would help pay for any claims or lawsuits against your business.

A commercial auto insurance quote typically includes liability coverage, which protects against injuries to other people or damage to their property if you're at fault for an accident.

Your business type, number of vehicles, state, and level of risk can affect your commercial auto insurance recommendations, so it's essential to explore your options.

Liability coverage is just the beginning; other protections like collision, comprehensive, and uninsured/underinsured motorist (UM/UIM) coverage can also be included in your policy.

Here are some additional coverage options to consider:

In North Carolina, any company that uses vehicles for business purposes must have them insured properly.

A commercial auto insurance policy is required for vehicles owned by your business.

Commercial auto insurance covers vehicles owned by your business, while hired and non-owned auto insurance (HNOA) covers personal, rented, and leased vehicles used by your business.

Your personal auto insurance policy does not cover you while making deliveries, picking up supplies, or other work-specific uses.

Any vehicles you own solely for work purposes must be covered by a commercial auto policy.

Commercial auto insurance policies often come with additional features that can provide extra protection and peace of mind for business owners. Some policies may include roadside assistance, which can help cover the cost of towing and other emergency services.

One feature that's often included in commercial auto insurance policies is equipment coverage, which can help protect valuable business equipment in the event of an accident. This can include tools, computers, and other essential business assets.

Some policies may also offer rental car coverage, which can help businesses cover the cost of a rental vehicle while their own vehicle is being repaired. This can be a huge help for businesses that rely on their vehicles for daily operations.

Commercial auto insurance policies can also include liability coverage, which can help protect businesses in the event of an accident or other incident that results in damage to others or their property. This can include medical expenses, lost wages, and other related costs.

Businesses that use their vehicles for deliveries or other business purposes may also be able to take advantage of cargo coverage, which can help protect against losses or damage to goods in transit.

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Your claims history can significantly impact your insurance fees, so it's essential to review and analyze your past claims to identify areas for improvement.

If your employees have been involved in accidents, such as backing over mailboxes, you may see an increase in your premium at renewal time.

Analyzing previous claims can help you pinpoint specific risks and take steps to mitigate them.

For instance, if you had a claim involving a trailer that came unhitched, you could train your employees on how to properly hitch a trailer to a truck.

Investing in new equipment, such as trailer hitches with safety features, can also reduce the likelihood of similar claims in the future.

Reviewing your claims history can help you identify patterns and areas where you can improve your safety protocols and reduce your insurance costs.

Liability insurance is a must-have for business owners, covering bodily injury to others and property damage to another vehicle if you're at fault in an accident.

This type of insurance pays others' medical costs and lost wages, as well as your legal expenses if a lawsuit is brought against you due to an accident.

If you use your personal vehicle for work, your personal auto policy won't cover you in the case of an accident.

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Medical payments or personal injury protection coverage can be a lifesaver.

It pays for medical expenses if your health care insurance – or your passengers’ – doesn’t cover the costs.

This type of coverage can help you avoid financial ruin in the event of an accident.

It can cover things like hospital bills, surgeries, and even ongoing treatment.

Medical payments or personal injury protection coverage can also cover expenses for your passengers.

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Liability insurance is a must-have for any driver, as it covers bodily injury to others and any property damage to another vehicle if you're at fault in an accident.

If you're involved in an accident, liability insurance will pay others' medical costs and lost wages, as well as your legal expenses if a lawsuit is brought against you.

Having liability insurance can provide peace of mind and financial protection in the event of an accident.

Liability coverage protects against injuries to other people or damage to their property if you're at fault for an accident.

Business car insurance can provide more coverage than personal auto insurance, especially when driving for business, which exposes you to different risks.

A commercial auto insurance quote typically includes liability, collision, and comprehensive coverages, as well as uninsured/underinsured motorist and medical payments.

Some commercial auto policies also offer expanded towing coverage, which provides towing, jump starts, and minor roadside repairs beyond what's covered by a standard policy.

Here are some key coverages to consider:

Having a new vehicle replacement cost coverage is a must-have for any car owner. This type of coverage will replace your new vehicle under a total loss with a new or comparable vehicle.

It's a game-changer for those who've just purchased a brand new car, only to have it totaled in an accident. You'll get a new vehicle, not just a payout.

Gap coverage is also included, which will help pay off any amount you may owe that's above your car's actual cash value. This can be a huge stress reliever, especially if you're still making payments on your vehicle.

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Having a commercial auto insurance policy can provide more extensive coverage than a personal auto policy, even if you only have one car for business use. This is because business driving exposes you to different risks, such as accidents involving employees or damage to company property.

A commercial auto insurance quote typically includes liability coverage, which protects against injuries to other people or damage to their property if you're at fault for an accident.

The type of business you have, number of vehicles, state, and level of risk can affect your commercial auto insurance recommendations. This means that your policy may need to include additional coverages, such as protection for heavy trucks or drivers.

If you have employees who operate your cars, your commercial auto insurance policy can cover them up to the limits of the policy, providing an added layer of protection for your business.

Here are some common commercial auto insurance coverages:

Commercial auto insurance provides a variety of coverages for cars, trucks, vans, and other vehicles used by your business. There are three basic parts of every commercial auto insurance policy: physical damage insurance, liability insurance, and other coverage.

Physical damage insurance includes collision and comprehensive coverage, which can help pay for repairs or replacement of your vehicle in the event of an accident or other damage.

Liability insurance, on the other hand, includes bodily injury, property damage, uninsured motorist, and underinsured motorist coverage, which can help protect you and your business from financial losses in the event of an accident.

Some states also require medical payments coverage, also known as personal injury protection, which can help pay for medical expenses for you and your passengers.

You may be required by law to have commercial auto insurance, especially if you have business-owned vehicles. Most states require liability insurance for injuries and property damage.

Here are the three basic parts of every commercial auto insurance policy: