Whether you are an established business with a fleet of vehicles or a new business with one car or truck, Smart Move Insurance can provide the Phoenix commercial auto insurance that will meet your needs. Commercial auto insurance is a specialized type of policy that will cover your business vehicles against the risks you find out on the road. Some of the coverage you find will look similar to what you have on a personal auto policy but there are differences so it’s important to find an experienced insurance broker who can walk you through the steps to finding the right coverage.
Types of coverage that you will find on a commercial auto policy include:
- Bodily Injury Liability – this covers damages due to bodily injury to others for which you are found liable or responsible.
- Property Damage Liability – this covers damages to property belonging to others for which you are found liable or responsible.
- Medical Payments – this usually covers medical expenses for bodily injury to a covered person sustained in an accident in your vehicle.
- Uninsured/Underinsured Motorist – this covers injuries and may cover property damage when you are involved in an accident with a person that carries limits less than the amount of the damage or does not carry insurance at all.
- Collision – this covers damage to a covered vehicle that is caused by a collision with another vehicle or object such as an auto accident
- Comprehensive – also known as “other than collision” this covers damage to a covered vehicle that is caused by something other than a collision such as hail damage or if a covered vehicle is stolen while insurance carriers will give you many choices on these coverages, there may be standards for your industry or certain ones you need to fulfill a contract. An example of this would be a $1,000,000 combined single limit Bodily injury/Property Damage Limit that is required in many contractor bids. It’s also important to understand when your personal insurance will no longer cover your vehicles. Most will classify your vehicle as a commercial risk if you have the name of your company on your car/truck, work specific built on items, wrapping your vehicle, advertisements, etc. If you’re unsure if this applies to you, contact your current insurance company to discuss if you are operating outside their underwriting guidelines. This is not something you want to find out when you submit a claim and it’s denied.
Types of businesses that may need Phoenix, AZ commercial auto insurance include delivery, general contractors, sub-contractors, plumbing, landscaping, HVAC, cable/satellite installers, trucking, moving, taxi/black car, etc. Each has specific needs based on their industry, risk tolerance, legal requirements, so it’s important to understand the coverage you are getting. There will be some coverage options that you don’t even know to ask about such as covering employee personal vehicles that are used to drive to a jobsite, take on appointments or generally use for the business. Others may include adding an additional insured, hired or non-owned liability, waiver of subrogation, etc.
We, at Smart Move Insurance in Phoenix, Arizona, believe the best way to understand your business is to start with a conversation. As a business owner, we know you don’t have time to waste, so if you are an established business, make sure to have a copy of your current insurance declaration pages that we can review. If you are a new business, we’ll help design an insurance package that fits what you need…no more, no less. To start the conversation, give us a call today.