Why Get Commercial Auto Insurance?
Commercial auto insurance is a mandatory coverage for businesses that require the use of an automobile for their business.
Commercial Auto Insurance Claims Examples
Bodily Injury
Incident: While driving to make an inventory delivery, your employed driver accidentally hits a pedestrian in a company vehicle. The pedestrian files a lawsuit for injuries suffered totaling $500,000
Result: The commercial automobile takes effect and covers the legal defense and damages.
Property Damage
Incident: While going to a jobsite, your vehicle slips on black ice while going downhill and collides with a nearby home. The homeowner suffers damages to his house and seeks out damages totaling $150,000.
Result: The homeowner sues you for the damage to his property and your commercial auto policy covers the legal fees and damages via the third party liability coverage.
Loss or Damage to Automobiles
Incident: During a routine test drive the employee of your auto repair garage is involved in an accident in a customer’s vehicle. Your customer returns to find out that his vehicle is damage while under your care, custody and control and seeks for damages to his vehicle totaling $30,000.
Result: Your commercial garage automobile policy covers the cost of repair to your customer’s vehicle while in your care, custody, and control.
Commercial Auto Insurance, Explained
What is commercial auto insurance?
Commercial auto insurance:
- provides coverage for third party bodily injury and property damaged resulting from the use of an insured automobile.
- covers compensatory damages, legal defense costs
- optional coverages can include the cost of repair to your vehicle, cost of a rental vehicle while your vehicle is being repaired due to an insurable loss, certain accident benefits to persons who suffer injury due to an accident.
What does commercial auto insurance cover?
- Bodily Injury – covers medical expense and legal fees associated with injuries to a third party due to the use of an automobile
- Property Damage – covers legal fees and damage to property belonging to a third party due to the use of an automobile
- Loss or damage to your automobile as a result of collision or other perils
- Accident benefits such as income replacement or medical, rehabilitation and attendant care as a result of injuries suffered in an accident or loss.
Who needs commercial auto insurance?
- Any and all businesses that own a vehicle used for commercial/business purposes
- Contractors, janitorial services, hospitality (pickup of stock or food delivery), auto garages, etc.
What is not covered by commercial auto insurance?
- Financial damages as a result of your professional services
- Intentional criminal acts
- Business interruption
- Standard automobile maintenance
Full List of Industry Insurance Types
Why Choose Pacific Insurance?
Our staff are trained Registered Insurance Brokers of Ontario (RIBO) which is the self-regulatory body for insurance brokers in Ontario.
We have been regularly featured in the media as insurance experts and asked to speak at events like the ‘CRV Radio International’.
1 on 1 Service
Speak directly with an expert instead of dealing with a faceless call centre.
40+ Years in Business
We provide the results of a large agency while giving you the agility and service level of a boutique agency
Fluent in Many Languages
Speak to our brokers in English, Cantonese, Mandarin, French, Korean, or Hebrew.