Business Car Insurance
Almost every business may face a loss due to its owning, renting, using, or loading/unloading a vehicle. Most coverage needs can be handled by a business auto policy or similar form. These may cover a variety of operations, including trucking, garaging, public and private transport and businesses with auto exposures that fall outside the other classes. Coverage is flexible. It is purchased as a separate policy.
A Business Auto Policy generally offers:
- Property coverage pays for damage to or theft of your car.
- Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
- Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
A commercial auto insurance policy is comprised of different kinds of coverage. All provinces and territories require you to buy some, but not all, of these coverages. If you’re financing a vehicle, your lender may also have requirements.