Commercial Auto Insurance
Obtaining commercial auto insurance is the more effective solution than driving around underinsured. When you drive on the road for hours at a time, you face increased risks of thefts and accidents. Without this policy, you risk paying thousands of dollars out of pocket for property damages, medical bills and other expenses. Learn the basics of commercial auto insurance and see if you qualify for coverage with our GEC Insurance Services provider.
Who Needs Commercial Auto Insurance?
Commercial vehicle insurance is made for all cars, trucks, vans and SUV s that are used for professional services and not personal reasons. Professional drivers work for hours on the road and have increased risks of accidents that may or may not be their fault. They need insurance that provides extensive coverage and liability protection.
Compared to traditional policies, commercial auto insurance covers a wider range of vehicles are covered from sedans to 18-wheeler trucks. The types of policy owners are taxi drivers and people who transport passengers for fees. They include delivery drivers who make multiple trips to deliver goods and equipment. Other policyholders are employees who work for businesses that require the use of a company car. Also included are long-distance truck drivers who cross state lines regularly and haul cargo that weighs tons.
Types of Coverage
Commercial auto insurance generally covers damages caused by fire, theft, burglary, vandalism, lightning and explosions. Liability insurance is provided to drivers who cause injury or death to another driver or damages to another person’s property. Their legal fees are paid for if they face lawsuits.
Comprehensive insurance covers the repairs and replacements of a vehicle that is lost, stolen or damaged due to fire, theft, vandalism, falling objects, etc. Collision coverage covers the repairs and replacements of vehicles that are involved with collisions with other vehicles or rollovers. Drivers who are at fault receive coverage for the replacement cost or actual cash value. Physical damage insurance combines coverage for collision and comprehensive insurance.
Exclusions for coverage are linked to reckless damages, depreciation and mechanical breakdowns. A decades-old vehicle may not be covered, and compensation is not given for years of normal wear and tear.
Uninsured motorist coverage provided to insured drivers who collide with uninsured motorists who cannot pay for the damages. Underinsured motorist coverage is provided to drivers who encounter insured drivers who lack adequate coverage. The uninsured or underinsured driver pays what he or she can for the accident, and the insurance company pays for the remaining balance.
Roadside assistance is optional coverage for drivers whose vehicles have broken down and left them stranded with convenient access to help. Coverage for a new vehicle replacement provides for the full replacement value of a vehicle that is totaled.
There are other forms of commercial auto insurance that are available to professional drivers. GEC Insurance Services provides insurance policies for all types of commercial drivers. Our independent agents work directly with you to help you find the best coverage. Contact one of our providers to obtain an estimate.