- Covers property damage and bodily injuries caused to others in accidents where the insured is responsible. Texas requires a minimum coverage of $30,000 per injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident, known as 30/60/25 coverage. Given the size and potentially greater damage a commercial vehicle can cause compared to a standard automobile, it is recommended to purchase more liability coverage in the event of multiple accidents or total loss of the other driver's vehicle.
Commercial Auto Insurance
Complete coverage for your fleet
Commercial auto insurance is a contract between the policyholder and an insurance company, with the purpose of providing financial protection in the event of accidents or incidents for vehicles used for commercial purposes, such as cars, trucks and vans. Since these vehicles typically face greater risks than personal vehicles, they require separate insurance. It is essential for any commercial vehicle owner, as it acts as a shield against a variety of situations, depending on the coverage purchased, such as collision accidents, injuries resulting from the accident, vandalism, theft, fire, flood or hail, contact with animals, and other unforeseen events that can damage the commercial vehicle as well as the operation of the business.
Generally, commercial auto insurance classifies the types of vehicles and the risks associated with each type:
- Transporters - Carriers: These are vehicles used to transport goods, materials or merchandise for third parties, excluding those used in moving.
- Non-transporters - Non-carriers: These are vehicles used for a variety of industries, such as manufacturers, contractors, food delivery services, specialized distribution, farmers, among others.
- Utility vehicles: These are private passenger vehicles, garage risks, public transport, specialized vehicles and non-owned cars.
The main coverages include:
Civil liability
Comprehensive coverage
- Covers against theft or damage caused by natural disasters, vandalism or other unforeseen events not related to collisions.
Collision coverage
- Covers the repair or replacement of the vehicle after an accident caused by collision with another vehicle or object.
Medical payments
- Covers your own and passengers medical bills; in some companies, this coverage includes injuries sustained while traveling in other units, particularly power engines.
Personal injury protection - PIP
- Similar to medical payments coverage, this option covers medical bills for the insured driver and passengers, and even in some cases, lost wages and other non-medical expenses.
Protection against uninsured or underinsured drivers - UM/UIM
- Covers if you are affected by an uninsured or underinsured driver. It also covers accident situations where the other driver runs away; It is recommended to collect evidence and witnesses.
Towing and labor
- Covers towing costs when the vehicle cannot be driven.
Roadside assistance - Trip interruption
- Covers towing to the nearest repair center; for heavy duty vehicle types, they may be subject to a deductible. Labor/assistance, this includes services such as changing a flat tire or jump-starting the battery.
Rental reimbursement
- Reimburses the cost of a temporary vehicle rental when the vehicle is being repaired after an accident.
*It is important to keep in mind that the terms and conditions of the insurance companies may vary for each coverage. Therefore, it is essential to review carefully to fully understand the extension and any exclusions that may apply.
