Commercial Auto Insurance
Commercial Auto Insurance Information
Commercial Auto Insurance in Ohio
Many businesses lease, rent or own vehicles to transport materials, haul goods, make deliveries, meet clients or handle other business operations. Accidents can happen no matter how skilled your drivers are or how safely they drive.
What Does Commercial Auto Insurance Cover?
You must protect your company drivers and vehicles with the proper amount of insurance. These five items are helpful to keep in mind when making your coverage decisions:
Comprehensive coverage—Commercial auto insurance can give you complete protection for damages unrelated to an accident (e.g., losses related to theft, floods, vandalism and fires).
Liability coverage—Commercial auto insurance can offer a range of protection if you damage another person’s vehicle or property in an accident.
Medical payment and lawsuit coverage—Commercial auto insurance may offer protection for accident-related expenses and may cover medical costs, lost wages and even legal fees if a lawsuit is filed against you.
Physical damage and collision protection—Commercial auto insurance may reimburse you for the costs of vehicle repairs you may need following a crash, regardless of who is at fault. Many policies may even cover uninsured and underinsured motorists, providing an extra layer of protection.
Optional add-ons for more protection—Commercial auto insurance policies may be tailored to include policy endorsements such as roadside assistance coverage, new vehicle replacement cost coverage, towing reimbursement, rental reimbursement, and gap coverage for auto loans or leases.
How Much Does Commercial Auto Insurance Cost?
When you purchase auto coverage for your business, you can choose the type of coverage, deductible and limits you want for your company’s drivers. By having the appropriate coverage, you can have peace of mind knowing your drivers are protected if they have an accident or damage unrelated to a collision.
Ohio state law requires all commercial auto policies to have a minimum liability limit of $25,000 per person, $50,000 per accident for bodily injury and $25,000 for property damage (i.e., 25/50/25). It’s essential to consider the limits that are best for your business in addition to what’s required by Ohio state law.
The cost of your business’s commercial auto insurance depends on several factors, including:
Number of vehicles
Vehicle type and value
Level of risk involved
Employee driving records
How We Can Help
Whether your business owns one vehicle or a fleet, we can help you make the right choice for your commercial auto insurance. The agents at Wilbur-Price Agency can help you get your estimate today. Call us at 800-797-2016 to get started.