Does Your Business Require Commercial Auto Insurance?

If your company utilizes vehicles as part of its daily operations, it is necessary to have a minimum amount of commercial auto liability coverage to comply with the laws in New Braunfels. At Primero Insurance Agency, our agents can assist you in assessing your specific circumstances and customize your commercial auto insurance policy to suit your organization’s needs.  

What Type of Auto Insurance Does My Business Need?  
Commercial auto insurance offers coverage for your company's legal liability. You have the flexibility to tailor your policy to include coverage for vehicles owned by the company, employee-owned vehicles used for business purposes, or rented vehicles. Based on the risks and exposures faced by your company, your agent may recommend purchasing the following types of commercial auto insurance policies:  

• Liability insurance: This coverage helps protect against third-party claims for bodily injury liability and property damage liability. Texas businesses that use vehicles for business purposes are required to obtain at least the minimum required coverage. 
• Collision insurance: If a covered vehicle collides with another vehicle or object, this insurance can help pay for the resulting damages. Collision coverage is typically mandated by your lienholder as part of your full coverage auto insurance policy. 
• Comprehensive insurance: This coverage assists in paying for non-accident-related damages, such as those caused by fire, vandalism, weather incidents, or theft. Your lienholder typically requires comprehensive insurance as part of your full coverage auto insurance policy. 
• Uninsured/underinsured motorist insurance: This insurance provides coverage for damage to your company vehicle in the event of an accident with a driver who lacks adequate insurance coverage. 
• Umbrella insurance: Umbrella insurance can offer additional coverage for property damage and bodily injuries when a liability claim exceeds the limits of your company's other liability policies. 
• Hired and non-owned auto insurance (HNOA): HNOA insurance provides liability coverage for leased, personal and rented vehicles used by your company. 
• GAP insurance: GAP insurance helps bridge the "gap" between the amount you owe on your company vehicle and the settlement from your insurance company after a total loss accident.  

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.