Business owners understand the importance of preparing for the unexpected. You never know when an accident, theft, or vandalism may happen to your company vehicle. This is why making sure commercial vehicles are insured is vital. Commercial auto insurance protects against the financial loss you may experience if a commercial vehicle is damaged or stolen.Muller Insurance is an independent agency with over 100 years of experience in the insurance industry, helping New Jersey residents find the auto insurance they need. Here, we discuss commercial auto insurance, what it covers, and whether your company can benefit.What Is Commercial Auto Coverage?You may assume that personal auto insurance is enough to cover your vehicle. However, if the vehicle is used for business operations, this may not be the case. Your business may require transporting passengers, valuable goods, or equipment that won’t be covered by a personal policy. You may also face riskier driver situations. Many personal auto policies won’t completely protect you if you get in an accident while driving for business – even if you’re using your personal vehicle.Commercial coverage extends your protection beyond the scope of a personal policy. For example, a commercial policy will typically cover medical costs for other employees and passengers in the vehicle during the accident. It compensates for damaged merchandise. It also offers compensation for pricy equipment that may be essential to your operation. This added protection provides peace of mind that your business will be secure, no matter what happens on the road.Who Needs Commercial Auto Insurance?Because of the extra protection it offers, commercial auto insurance is recommended for any business that uses vehicles in its day-to-day operation. Consider taking a policy if any of the following statements apply to your company:You own or operate a fleet of vehicles.You transport merchandise or passengers.You haul a considerable weight of tools, equipment, or materials.You tow a trailer used for business.Vehicle registered in business name.Certain industries rely on vehicle travel more heavily than others. These industries are most at risk from road accidents, and most in need of risk management:Independent contractorsTrades and special service providersTrucking and delivery companiesBus and taxi servicesConstruction companiesCar dealershipsThough these industries are most in need of insurance protection, many other types of businesses may benefit as well. Any company that uses commercial vehicles should invest in a policy. If this applies to your business, consider your needs carefully when determining your insurance requirements.Insurance Coverage Types AvailableLike a personal policy, commercial auto insurance offers a variety of coverage types. These may be similar, including liability, collision, and medical. However, there are some differences. Before purchasing a policy, understanding its definitions, eligibility, and limits is essential. Here is a brief breakdown of the coverages that may be offered on a commercial auto policy:Body injury liability coverage: Pays for injury or death resulting from an accident in which you are at fault.Property damage liability coverage: Pays for accidental damage your vehicle causes to another person’s property.Combined single limit (CSL): Rather than two separate limits for body injury and property damage, CSL policies provide a single limit that applies to both.Personal injury protection: Pays for medical expenses, lost wages, and other costs for you and your passengers, no matter who caused the accident.Medical payments (MedPay) coverage: Pays for medical expenses and other costs for you and your passengers. MedPay is often sold in small amounts and does not cover lost wages.Uninsured motorist coverage: Pays for your injuries and property damage caused by an uninsured or hit-and-run driver.Underinsured motorist coverage: Pays for your injuries and property damage caused by a driver with insufficient insurance to cover expenses.Collision coverage: Pays for damage to your vehicle caused by a car accident.Comprehensive damage coverage: Pays for damage to your vehicle caused by other perils, including theft, vandalism, or floods.When determining your insurance needs, understand that commercial auto insurance does not protect rental vehicles. These must be covered under rental reimbursement insurance. Similarly, customer’s cars that are in your care are not protected unless you purchase garage keepers’ insurance.Insure Your Business Vehicles TodayMuller Insurance is an independent agency based in Hoboken, New Jersey, and licensed in over 30 states. We work with 25 different insurance agencies, including top names like Chubb, Foremost, Plymouth Rock, Progressive, Safeco, and Travelers, allowing us to shop around to find the best value for our customers. We can also help you save with bundling opportunities.If you think commercial auto insurance may be right for your business, reach out to Muller Insurance today. You can request a quote by contacting us through our ready-to-fill form or by calling 201-659-2403.