Business Auto Coverage – Business-owned autos can be divided into three categories: private passenger auto, commercial autos and public autos. Private passenger autos are ordinary autos, trucks and less than three-quarter ton vehicles owned by the company but not used commercially. The president of a company would be able to list his vehicle on the company’s business auto coverage. Commercial autos are trucks over three-quarters of a ton, truck tractors, semi-trailers, commercial and utility trailers. Public autos include vehicles used for public transportation such as taxis and rental cars.
The business auto coverage form provides insurance for private passenger and commercial autos for any business. Garages, trucking firms, auto dealerships and implement dealers are not covered under this form, but can be covered under the garage policy.
Garage coverage includes garage liability, garage keepers’ liability and dealer’s physical damage. Businesses that would purchase a garage coverage policy are car dealerships, garages, implements dealerships, gas stations and mobile-home dealerships, among others.
The truckers’ coverage form covers those that hire themselves out to haul the goods of others. This policy also includes liability and physical damage. A unique coverage for truckers is trailer interchange insurance. This covers damage to a trailer that is borrowed or hired by an insured trucker from another trucking firm. Damage must be from one of the covered perils in the physical damage coverage section of the policy.