Many types of Nevada businesses own commercial vehicles, from contractors, wholesale distributors, and retail stores, to an office that owns private passenger vehicles for the owners to drive. All of these businesses have one thing in common: they need a properly structured commercial or business auto insurance policy. Trust the professionals at Safeguard Insurance to protect your business with commercial auto insurance.
Business auto insurance is very different from personal auto insurance. First, the policy uses coverage symbols that designated which vehicles are covered. For instance, symbol 1 is referred to as “Any Auto”, meaning any vehicle for which the business is legally liable is covered. Symbols 7,8 and 9 are also commonly used, which means Scheduled (7), Hired (8) and Non-Owned (9) autos are covered for liability.
Commercial Auto Physical Damage
Physical damage coverage is also based on either the cost new or a stated value (typically the current blue book value). As with liability, physical damage can be extended to non-owned and hired autos for an additional premium. Commercial auto policies can also be written to cover permanently attached equipment such as service beds, lift mechanisms, and even boom arms.
Gross Vehicle Weight and Insurance Rates
The GVW of the vehicles has a direct impact on the overall rates – the heavier the vehicle, the higher the liability premium. Other rating factors include the radius of operation (how many miles the vehicle is routinely operating away from its garaging location), number of stops per day, type of product or materials carried and the driving record of the vehicle operators.
Protect Your Business with Commercial Auto Insurance
At Safeguard Insurance, we have access to many “A” rated insurance companies that offer extremely competitive pricing for business auto insurance. Our ability to quote multiple insurance companies assures you we are providing true value – the best price for the best coverage. Contact us today to and see just how we can help protect your business with commercial auto insurance that is tailored to your needs.