Almost every
business may face a
loss due to its
owning, renting,
using, or
loading/unloading a
vehicle. Most
coverage needs can
be handled by a
business auto policy
(BAP) or similar
form. BAPs may cover
a variety of
operations,
including trucking,
garaging, public and
private transport
and businesses with
auto exposures that
fall outside the
other classes.
Coverage is
flexible. It may be
purchased as a
separate policy or
as part of a package
of coverage that may
also protect
buildings and
business property
(equipment,
furniture, etc.). A
BAP generally offers
-
Liability
Coverage -
protection for
physical injury
to other persons
or their
property because
of an accident
related to your
covered vehicle
including legal
defense cost or
expense.
-
Comprehensive
Coverage -
handles loss
from any cause
except
collision. A
limited, less
expensive option
is available. It
only protects
against a set of
specific causes
such as fire,
lightning,
explosion,
vandalism and
several others)
-
Collision –
takes care of
damage from
crashes with
another object
or overturn of
the vehicle
-
Towing And Labor
Costs for
disabled
vehicles
-
Loss of
Use—Rental
Vehicle Coverage
– if you damage
a rental car,
this option
helps to
reimburse the
rental company
for income it
loses because
the vehicle is
out of use.
Also, there may
be limited
coverage for
injury or damage
that you cause
to others while
using a rented
vehicle anywhere
in the world.
Business Auto
Policy Exclusions
Typically a business
auto (or similar
form) will not
provide coverage for
the following:
-
any
injury/damage
that you
expected or
intended
-
responsibility
for damage you
assume under a
contract
-
losses that
should be
handled by a
Workers
Compensation,
Disability
Benefits or
Unemployment
Compensation Law
-
Bodily Injury to
an employee
caused by a
Fellow Employee
-
Damage to
property that is
in your Care,
Custody and
Control
-
Any bodily
injury or
property damage
that occurs
because of
Pollution
-
Any loss that is
related to
racing,
demolition or
stunts
Other items that are
not covered are the
same as those found
with most types of
policies, such as
Nuclear Hazard or
any type of War or
Military Action.
Racing, Wear and
Tear, Freezing,
Mechanical or
Electrical
Breakdown, Blowouts,
Punctures or Other
Road Damage to Tires
are also excluded.
Compare
business auto
insurance quotes.
The above information
regarding business liability insurance quotes is
for general informational
purposes only and is
not to be construed
as a recommendation
or advice in any way
shape or form.
