Commercial Auto Insurance
Commercial Auto Insurance Information
Kentucky requires that businesses have commercial auto insurance, but your company may need more coverage than minimum liability insurance.
Contact the agents at Curtis Owens Insurance Agency in Morehead, Kentucky, today to get help tailoring your commercial auto insurance policy to meet your organization’s needs.
How Much Commercial Auto Insurance Do I Need?
Your company’s commercial auto insurance policy must meet Kentucky’s minimum liability coverage threshold. You must purchase personal injury protection (PIP) coverage or sign a waiver.
If your business leases or finances vehicles, your lienholder requires full coverage insurance that may include collision, comprehensive, and gap coverage.
Companies that lease vehicles or have employees using personal vehicles for business purposes must carry hired and non-owned vehicle (HNOA) coverage to help pay commercial auto liability damages after an accident.
Depending on your company’s situation, your agent may recommend that you purchase more than the minimum liability insurance required in Kentucky. You may also consider purchasing an umbrella policy to help cover claims exceeding your other policies’ liability limits.
What Does Commercial Auto Insurance Cover?
Your commercial auto insurance provides coverage for accidents and incidents as outlined on your policy declarations page. Depending on your company’s risks and exposures, your agent may recommend the following coverages:
· Liability insurance to help pay for your company’s legal liability for third-party property damage and bodily injury claims as required by Kentucky law
· Personal injury protection (PIP) to help pay for medical bills, lost wages and similar out-of-pocket costs after a car accident as required by Kentucky state law.
· Collision insurance to help repair or replace your company’s vehicle after a collision with another vehicle or object
· Comprehensive insurance to help repair or replace your company’s vehicle after a noncollision-related incident or accident such as a fire, storm, theft or vandalism
· Uninsured/underinsured motorist coverage to help cover the costs of an accident when the at-fault driver is not adequately insured
· Gap insurance to help bridge the financial “gap” between the amount your company owes its lienholder and your insurer’s settlement after an accident renders a covered vehicle a total loss
How to Get Commercial Auto Insurance
Any Kentucky insurer can help you get commercial auto insurance, but working with an experienced agent can help ensure that you get the best possible combination of value and coverage. Contact Curtis Owens Insurance Agency today to get multiple commercial auto insurance quotes from reputable insurers.