Business Insurance

Whether your business owns vehicles or your employees just run the "occasional" errand for the business, it is important to make sure you have the correct auto coverage in place. Foundation Insurance Services is ready to review your operation and discuss where you may have exposures to an auto liability loss.

No matter what type of vehicle your employees use to conduct business on behalf of your organization; their own auto, a company vehicle, or a rented car, an accident on company time with which they are found to be at fault, may put your company on the hook for the resulting injuries and/or damage. Additionally, commercial auto policies respond differently depending on the symbol assigned to each coverage.  These symbols are very important to determining what vehicle is and is not covered under each section. 

Foundation Insurance Services understands the intricate details that drive your auto policy and can help you navigate what coverage will be best for your situation.

Key components of a commercial auto policy are:

• Bodily Injury Liability Coverage: The policy pays for damages relating to personal injury if your business is legally responsible for an accident injuring someone other than passengers in your auto. It also provides for legal defense and court costs if you (as business owner) or your company is sued.
• Property Damage: Pays expenses to someone else whose auto or other property is damaged in a covered accident for which your company is responsible.
• Medical Payments: Pays for medical and related injury expenses that you or your passengers receive in an accident. Medical payments coverage takes care of you and your employee's medical expenses regardless of fault. 
• Uninsured/Underinsured Motorists Insurance: In the event another party is at fault in a loss and either does not have insurance or does not have enough to cover all the costs associated with the claim.  UM/UIM will step in to full the gap.
• Comprehensive: By adding comprehensive coverage, you will have protection if your vehicle is damaged by something other than a collision—for example, a falling tree limb, theft, fire, or striking an animal..
• Collision: This coverage pays for any direct and accidental damage to your commercial vehicle caused by a collision regardless of fault.
• Non-Owned Auto: This provides your business and you (as business owner) with liability protection for injuries or damages if your employee is involved in an accident and found responsible while using their own vehicle to perform company business.
• Hired Auto Liability: This coverage provides your business, your employees and you with liability protection when you temporarily rent, lease, hire or borrow vehicles for business use.

Additional coverage options that may be available for commercial auto insurance policies, including coverage for vehicle customization, Glass Buyback, Rental Reimbursement, and others. Contact Foundation Insurance Services today to learn more. 

 For questions or additional information give us a call. (480) 999 -2088