Commercial vehicle Insurance

Commercial vehicles insurance is a kind of insurance which ensures protection of commercial vehicles (such as business-use autos, pickups, vans, trucks and non-owned and rented vehicles) against losses incurred due to traffic accidents, theft, fire damage, and other factors. Commercial vehicle insurance, like personal auto/car/vehicle insurance or motorcycle/scooter insurance, is an important and distinct segment of auto insurance.

Commercial Auto Insurance :
Commercial vehicles insurance can include a wide range of plans and policies. Insurance company like The Hartford offers various plans of commercial auto insurance, including:

Broadened coverage for extra expense [includes payment of extra expenses (if any) involved in returning an insured automobile that has been stolen and recovered]
Glass repair (offers waiving of the deductible if one has repaired the damaged glass of the vehicle instead of replacing)
Hired auto and non-owned auto [covers damages (that one is required to pay) caused by bodily injury or property damage that occur during usage, loading or unloading of hired or non-owned vehicles used for business)
Lease gap coverage for leased cars (in case an auto is damaged totally in an accident, this provision covers the outstanding balance of the lease if it exceeds the car’s actual cash value
Liability coverage for accidents involving one’s company-owned cars (protects one in case someone else claims that the former or someone driving the former’s covered car are legally responsible for bodily injury or property damage)
Liability coverage for business use of one’s employees (if one’s employees were involved in an accident while using their own vehicles for company business purposes, the employer would be protected if someone sued him/her for the damage or injury caused)

Besides there are other insurance plans for commercial vehicles including:
• Liability coverage for cars of rent, loan or lease
• Lost Wages for Accident Victims
• Medical payments for passengers
• Physical damage (Collision )
• Physical damage (Comprehensive)
• Physical damage coverage for cars of rent, loan or lease
• Transportation expenses

Some of the commercial vehicle insurance companies in the US are:
• The Hartford
• AA Commercial Vehicle insurance
• Eagle Star Commercial vehicle Insurance
• Swinton Commercial Vehicle Insurance
• Cornhill Direct Commercial Vehicle Insurance
• Gladiator Commercial Vehicle Insurance

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Last Updated on : 4th June 2013