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Commercial Auto Insurance

Covered Auto Policy Symbols  

Commercial Auto Insurance New York

Commercial Auto Insurance provides liability and damage protection for any vehicle used to conduct business. Commercial Auto Insurance goes beyond what a Personal Auto policy covers.

Since commercial vehicles are prone to higher liability issues and risks, a separate policy is required for them. This policy not only covers business vehicles such as cars, vans and larger commercial trucks, but it also covers the employees who are operating the vehicles, as well as the equipment the vehicles are carrying. 


Who Needs Commercial Auto Insurance?

Any business that involves cars, trucks or vans in its operations, requires Commercial Auto Insurance. If your business uses a car to run errands, a limo to transport clients or a van to pick up or deliver equipment, you must have Commercial Auto coverage. In addition to larger construction-type trucks, such as dump trucks and box trucks, the following are also considered commercial vehicles: 

  • Limousines
  • Taxicabs and Livery Vehicles
  • Pickup Trucks
  • Sport Utility Vehicles
  • Utility Vans
  • Tow Trucks
  • Catering Trucks
  • Refrigerated Trucks
  • Rented or Leased vehicle

Give us a call and a Colstan and Associates agent will be happy to assist you.

What Does Commercial Auto Insurance Coverage? What Are its Limits?

A Commercial Auto policy provides coverage for liability, collision, personal injury, comprehensive and coverage for uninsured motorists. Additional add-ons may be needed for coverage for your employees, equipment and goods, to protect against any lawsuits. 

Covered Auto Policy Symbols

Most commercial auto insurers provide both narrow and broad coverages for commercial automobiles. They use the standard ISO Business Auto Policy, which uses numbers 1-9 to designate what types of autos are covered. Your auto policy contains numeric symbols. These are important because they determine which of your autos qualify as covered.  Only covered autos are insured under your policy. 

What Does Commercial Auto Insurance Coverage? What Are its Limits?

Here is a list of most of the major covered auto symbols used:  

Symbol 1 – Any Auto 

Symbols 2, 3 and 4 – Owned Autos, Owned Private Passenger Autos and Owned Auto other than Private Passenger 

Symbol 5 – Owned Autos Subject to No-Fault 

Symbol 6 – Owned Autos Subject to Compulsory UM Law 

Symbol 7 – Specifically Described Autos 

Symbol 8 – Hired Autos 

Symbol 9 – Non-owned Autos 


*Note that symbol 1 has the broadest coverage while symbols 8 and 9 are the narrowest. You will find an explanation of the meaning of each symbol in the section of your policy, which usually appears on page 1 of the Business Auto Coverage Form. 

Combined Single Limit (CSL)

In contrast to Personal Auto policies, where there are separate limits for bodily injury and property damage liability (split limits), Commercial Auto policies usually have a combined single limit (CSL). CSL generates limits that are higher for both bodily injury and property damage coverages, which also include per occurrence limits. An Umbrella policy may be purchased to cover a Commercial Auto policy to provide higher limits, but the most common commercial auto CSLs for small businesses are usually $500,000 to $1,000,000. 

 Remember, New York State’s liability insurance requirements must be met. As a business owner, you cannot afford to have the state minimum limits because of the liability. It important to speak to an agent to determine the best limits for your business. If you don’t own the vehicles used in your business, you may be required to obtain comprehensive and collision coverage by your financial institution.  

Other additional coverages you may want to think about as a business owner are:  

Uninsured/Underinsured Motorists Coverage:

 Protection for accidents involving a driver with no or limited insurance.

Personal Injury Protection and Medical Payments:

This coverage will help with medical expenses in the event you or your passenger(s) are in an accident.

Emergency Roadside Assistance Program Insurance:

Provides services such as towing, tire changes, locksmith, etc.

Personal Property Coverage Effects Insurance:

This covers (usually up to a certain amount) theft of personal belongings of you or an employee.

For more information on these and other additional coverages, or for general information on Commercial Auto Insurance, contact Colstan and Associates. 

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