Insuring the vehicles that your business operates during the course of the day is very important and we are here to help (844) 863-6154.
BAP or Business Auto Policy Coverages are an insurance policy that covers a businesses’ use of cars, trucks, vans, box or straight trucks and other vehicles in the course of conducting its business. Coverage may include vehicles owned or leased by the company, hired by the company, or employee-owned vehicles used for company business.
Get free rate quotes for your Business Auto Policy. We offer access the best in class Commercial Auto Insurance in the country.
Business Auto Insurance Policy Quotes are available for many types of vehicles. Call us at (844) 863-6154. Or use our quick and easy form below.
What are the Liability Coverage Types in Business Auto Policy?
Combined single limit (CSL)
Combined single limit combines property damage liability coverage and bodily injury coverage under one single combined limit. For example, an insured driver with a combined single liability limit strikes another vehicle and injures the driver and the passenger. Payments for the damages to the other driver’s car, as well as payments for injury claims for the driver and passenger, would be paid out under this same coverage.
Split limit liability coverage policy splits the coverage’s into property damage coverage and bodily injury coverage. In the example given above, payments for the other driver’s vehicle would be paid out under property damage coverage, and payments for the injuries would be paid out under bodily injury coverage.
Bodily injury liability coverage is also usually split into a maximum payment per person and a maximum payment per accident.
The limits are often expressed separated by slashes in the following form: “bodily injury per person”/”bodily injury per accident”/”property damage”.
Business Auto Insurance: Tips and Tricks for Finding Affordable Coverage
For any business, having the right auto insurance policy is essential. It provides you with financial protection in case of an accident, and it can also help you avoid any legal headaches. Unfortunately, business auto insurance can be expensive, so here are some tips and tricks for finding affordable coverage.
1. Shop Around
The first and most important tip for finding affordable business auto insurance is to shop around. Different insurance companies offer different policies and prices, so you should always compare at least three or four providers before making a decision. You can also ask for quotes from brokers and agents who specialize in commercial auto insurance. They’ll be able to provide you with multiple quotes from different companies, and they may even be able to find you a better deal than if you went directly to the insurance provider.
2. Bundle Your Policies
Another way to save money on business auto insurance is to bundle your policies. Most insurance companies offer discounts if you purchase multiple policies, such as business auto insurance and general liability insurance, from the same provider. This can help you save money on both policies, so it’s definitely worth looking into.
3. Increase Your Deductible
Increasing your deductible is another way to save money on business auto insurance. Your deductible is the amount you’ll need to pay out of pocket before your insurance kicks in, and the higher your deductible, the lower your premiums will be. Just make sure you have an emergency fund in place to cover the deductible if you do get into an accident.
4. Buy Only What You Need
When shopping for business auto insurance, it’s important to buy only what you need. Some policies offer extra coverage that you may not need, such as rental car coverage or roadside assistance. So, make sure to read the policy carefully and only purchase the coverage you need.
5. Look for Discounts
Many insurance companies offer discounts for businesses, so make sure to ask your provider if you qualify for any of them. Common discounts include multi-vehicle discounts, good driver discounts, and discounts for installing safety features, such as anti-theft devices or automatic seatbelt reminders.
6. Review Your Policy Regularly
Your business’s auto insurance needs may change over time, so it’s important to review your policy regularly. Make sure the coverage still meets your needs, and make any necessary changes to keep your policy up-to-date.
These are just a few tips and tricks for finding affordable business auto insurance. By shopping around, bundling your policies, increasing your deductible, buying only what you need, looking for discounts, and regularly reviewing your policy, you can save money on your business auto insurance and get the coverage you need.
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