Commercial Auto Insurance helps your business cover the financial costs resulting from an auto accident if you or an employee is found at fault. Commercial Auto insurance helps pay for damaged property and medical expenses – even in the event of a fatal accident.
A commercial auto insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire and gross vehicle weight of the vehicle.
Commercial vehicles insurance will help protect you for example, if:
An employee hits a pedestrian while driving a company truck and the pedestrian requires medical treatment that results in substantial bills.