Whether your business leases a single company car or operates a fleet of vehicles, you need to purchase commercial auto and truck insurance. They not only protect your assets but are also required by law. In the following sections, North American Underwriters, the leading insurance broker in Farmington, CT, discusses coverage types offered by commercial auto insurance policies.
Your Guide to Commercial Auto & Truck Insurance
Liability coverage comes in two types: bodily injury and property damage liability. By law, you must purchase minimum amounts of both to operate a motor vehicle in Connecticut. Bodily injury liability pays the medical costs of other motorists injured in an accident deemed to be the fault of you or an employee. Property damage liability pays to repair or replace a vehicle, real estate, or personal property damaged in an accident for which you or your employees are at fault. It also pays the legal costs to defend subsequent lawsuits.
Collision coverage reimburses you for the cost to repair your vehicle after an on-the-road accident, such as a slide-off or a multi-car collision. It includes both mechanical repairs and body work. Collision coverage is not required by law, but if your commercial vehicle is leased or has a lender lien, the dealership or bank may require you to purchase coverage.
Theft & Fire
Comprehensive coverage protects you against noncollision losses. These include theft, fire, vandalism, and other named hazards. Full coverage is not required by law, but it is recommended to protect your investment and required in the case of a lease or car loan.
To discuss your commercial auto and truck insurance options, contact the experts at North American Underwriters in Hartford County. In addition to truck and auto insurance, they specialize in helping you find the best boat, power sports, and RV insurance coverage for your needs. Visit their website to view a map and business hours, or call (860) 674-4000 to speak with an experienced agent.