The differences between commercial and personal auto insurance are many, but the main distinctions lie in extent and purpose of coverage. After all, businesses have many concerns private individuals don’t share, such as increased liability risks. Besides having higher liability limits, commercial car insurance also include coverages like:
• Any auto liability — this coverage extends the liability coverage you have on existing commercial vehicles to any new vehicles you purchase, as well as hired and non-owned vehicles
• Trailer interchange insurance — this insurance covers non-owned trailers you haul under a trailer interchange agreement
• Rental reimbursement with downtime — this coverage helps cover the costs incurred to temporarily replace an inoperable commercial vehicle
• Single-deductible options — if you haul a trailer or use other specialized (and probably expensive) equipment for work, you can extend it to cover those items and only pay your deductible once for claims on both the vehicle and trailer
• Individual named insured coverage — allows you to extend your commercial coverage to protect you when you drive a vehicle you don’t own
• Non-owned vehicle coverage — protects you and your employees while driving vehicles not owned by your company
