Commercial vehicle insurance is needed if your company operates vans, cars and trucks for business purposes. Whether the vehicles are owned or leased by the company, the policy covers physical damage and liability for any type of usage that is not covered a personal car insurance policy. Here are some more details:
- The types of vehicles covered – the range of vehicles covered by commercial auto insurance Colorado policies include food trucks, box trucks, utility trucks as well as larger vehicles. Regular cars can also be included if they are operated by the company’s employees for business purposes;
- The coverage offered by commercial auto insurance policies – these policies offer coverage for bodily injuries and property damage caused by the vehicle covered, for the payments of the medical bills of the driver and the passengers in the vehicle covered, for uninsured motorists, if the accident is caused by an uninsured driver or if a hit and run occurs, comprehensive coverage for any damage sustained by your vehicle because of theft, vandalism, flood, fire or other perils and collision coverage, for situations when your vehicle is damaged during a collision with another object.
Each state has different requirements regarding what commercial policies should cover, so the first step before buying a policy is to find out about those requirements.