When it comes to commercial auto insurance, how exactly can you find the right type of coverage? As always, this boils down to what your business does, including the goods you may be transporting or the services you may be providing, how your business does it, and what type of vehicle your business utilizes to fulfill that objective.
Along those lines, there are several broad classifications which will provide a good starting point. For example, one of the more common types of commercial auto insurance is owner operator insurance, sometimes abbreviated as OOIDA. This is specifically designed for individuals who are owner operators in the trucking industry, and provide for-hire transport services.
Many businesses utilize a regular car for simple purposes and end up needing commercial auto insurance in addition to personal auto coverage. For example, a realtor may drive clients from the office to various houses around town. Commercial auto insurance is needed here. Or perhaps you make deliveries of food or other goods. You need commercial auto here, too.
You might also be utilizing a business van for local deliveries of flowers, packages or newspapers, or anything else, or perhaps you give customers rides to and from your location in a van. Once again, you need commercial auto here too, although there are special policies specifically designed for company vans.
Another classification is commercial auto insurance for the construction and contracting industry. Whether you’re the project manager and you simply are driving your car to the job-site, or you’re hauling materials and equipment utilizing a van, truck, pickup, flatbed truck, or anything else, this is another specific type of coverage which is available.
There is also specialty business vehicle insurance. Specialty vehicles are those which don’t fit easily into other broad categories, such as semi-trucks, 18 wheelers, pickup trucks or vans. Here, you’ll find refrigerated trucks, log haulers, automobile haulers, tow trucks, wreckers, dump trucks, garbage trucks and waste haulers, and more. These all apply very specifically to certain types of vehicles, and in turn, certain types of businesses and services.
Of course, the list goes on from here. The most important thing you always have to do is find as specific a policy and coverage as possible. The good news is, there’s an absolutely massive range of different coverage types and plans, so that’s almost always fairly easily accomplished.