Many businesses send employees to make deliveries or consult with customers in company-owned vehicles. These businesses depend on vehicles for everyday jobs, and commercial auto insurance can protect a business’s drivers and company-owned vehicles. 

Your company could be liable for medical bills and other costs if one of your employees has an accident and you don’t have commercial auto insurance. North Carolina requires any business that uses vehicles for business purposes to have auto liability insurance, included in commercial auto insurance coverage.  

The Cowey Insurance Group can review your business’s insurance needs to ensure you have the coverage you need for your business vehicles that the state requires. 

Should My Business Have Commercial Auto Coverage? 

Your business may need commercial auto coverage if your company has:  

• Business vehicles that you give to employees for commercial and private use. 
• Vehicles owned, leased, hired or rented by your business.  

If your business has employees who drive their personal vehicles for business-related errands, you need a hired non-owned auto (HNOA) policy. Commercial auto coverage will not cover vehicles not owned by the company—unless they have additional HNOA coverage. 

What Does Commercial Auto Coverage Provide? 

Commercial auto insurance provides an array of coverage, helping with numerous incidents, including: 

• Liability insurance might help pay for the damage your business vehicle causes to others. 
  • Bodily injury liability coverage may pay for third-party medical bills and sometimes death benefits. 
  • Property damage liability coverage may pay for damage to the other party’s property. 
• Comprehensive insurance is coverage for damages after an accident or incident unrelated to a collision, such as vandalism, weather damage or a fire. 
• Collision insurance may pay for damages to the vehicle sustained in an accident with another vehicle or a stationary object. 
• Hired/non-owned auto liability insurance covers personal, rented or leased vehicles you use for business. 
• Medical payments coverage might pay the medical bills if you or a passenger suffered injuries in an accident. Sometimes, it may cover other losses, such as lost income. 
• Uninsured/underinsured motorist insurance may help cover damage caused by someone who doesn’t have adequate liability coverage.  

What Does Commercial Auto Insurance Cost?  

 Various factors determine the price of your business’s commercial auto policy, including the type of coverage you choose, your business’s location, the value of the vehicles you want to insure, the drivers and any additional policies and endorsements.  

These additional policies and endorsements can supplement your business’s commercial auto insurance, including rental car reimbursement, replacement cost vehicle coverage and roadside assistance. We can help you determine if these supplemental coverages may be a good fit for your business.  

We Can Help 

The Cowey Insurance Group can help ensure your commercial auto insurance meets your business’s needs and the requirements of North Carolina. Call us at 252-638-1345 today to get started on your policy.