TUESDAY, OCTOBER 25, 2022
California businesses that use vehicles to conduct normal business activities must carry commercial auto insurance according to state law. If your company leases or finances vehicles, your lienholder has additional insurance requirements. They may ask you to purchase comprehensive, collision and gap coverage to help protect their investment in your company’s property.
How Much Commercial Auto Insurance Do I Need In California?
Every California company with company vehicles must purchase auto liability insurance with the following minimum limits:
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$30,000 bodily injury liability and death liability if more than one person is injured
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$15,000 bodily injury liability and death liability per person
Failure to meet California’s minimum liability limits with your commercial auto policy could result in hefty fines. For many companies, meeting the minimum liability limits won’t provide enough protective coverage. Talk with your agent to tailor your liability policy to meet your organization’s needs.
What Does Commercial Auto Insurance Cover?
Your commercial auto insurance policy may provide a wide range of coverages, depending on your chosen policies. Depending on your situation, your agent may recommend that you purchase specific coverage in addition to liability insurance, including:
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Collision insurance helps pay for damages to the covered vehicle after colliding with another vehicle or object.
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Comprehensive insurance helps pay for non-accident-related damages, including fire, vandalism, weather damage or theft.
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Medical payments (MedPay) helps pay for several loss types, including medical bills if a company vehicle driver or passenger is injured in an accident.
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Hired and non-owned auto insurance (HNOA) provides coverage for your company’s leased, owned and rented vehicles.
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Gap insurance helps cover the “gap” between the amount you owe on your company vehicle and the settlement from your insurance company after an accident if your company’s vehicle is a total loss.
How to Get a Quote for California Commercial Auto Insurance
Getting a personalized quote for commercial auto insurance is essential because each insurer may use different criteria to help determine your premiums. Contact Nauertz Insurance Agency in Upland, California, to start building a commercial auto policy tailored to your company’s needs and get a quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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