COMMERCIAL AUTO INSURANCE
Commercial auto insurance is a kind of insurance specifically for companies that incorporate vehicles into their business activities. If you’re utilizing a vehicle to move merchandise or passengers as part of your enterprise, this type of coverage is essential.
How is Commercial Auto Insurance Different from Personal Auto Insurance?
Standard auto insurance policies typically do not provide coverage for accidents that occur while you are driving your vehicle for business-related activities. This is where commercial auto insurance comes into play. With commercial auto insurance, damages to your vehicle are covered, along with any injuries or property damage you may cause while using your vehicle for work purposes.
Do I Need Commercial Auto Insurance for a Single Truck?
Absolutely! Even with just one truck, ensuring it’s adequately covered is crucial. Depending on your state, specific liability coverage amounts may be mandated. For instance, in Texas, trucks must carry at least $750,000 in liability insurance. Lacking sufficient coverage could leave you financially responsible for damages beyond your policy limits if an accident occurs.
For those running a trucking business, ensuring adequate insurance protection is crucial. This is where commercial vehicle insurance steps in. Tailored for companies that rely on vehicles to conduct their operations, commercial auto insurance is essential if you’re using a truck or car for transporting goods or passengers as part of your business activities. It’s vital to distinguish between commercial and personal auto insurance policies, and to secure sufficient coverage to safeguard your enterprise in the event of an accident.
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