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Business auto insurance is the equivalent of your personal auto insurance policy, but it protects vehicles and drivers associated with your business. If your business owns vehicles, this policy will insure your business for costs associated with collisions or other vehicle damage. It also provides liability coverage for your business if one of your drivers is at fault for an accident.
Your commercial auto policy can cover:
Whether you provide cars for your salespeople or own semi trucks for transporting goods across the country, one traffic accident can be a serious hit to your financial stability. Whether it is a fender-bender or a serious accident with fatalities, your business will be held responsible if one of your drivers causes an accident.
Your company will need to pay for the damage to other cars and for the medical expenses of any injured drivers or passengers. You may also be sued for additional damages.
Michigan commercial auto insurance protects your business from the costs of car accidents and other roadway threats.
Michigan commercial auto insurance pays for a variety of expenses when one of your business-owned vehicles is involved in an accident. It also helps you pay for damages if your car is stolen or vandalized, or if your car is damaged by some other unexpected event, such as hail or a falling tree.
Fix your car
Fix someone else's car
Pay for someone else's medical bills
Pays you if an uninsured driver causes an accident
Commercial auto insurance is designed for businesses that typically have several drivers and multiple vehicles. For this reason, there are several differences between commercial auto coverage and personal auto coverage.
Commercial vehicle insurance premiums vary from business to business. A restaurant owner with two cars for takeout deliveries will not pay the same as a construction company with a fleet of heavy trucks.
Commercial auto insurance rates are based on the number of vehicles your company owns and the types of coverage you need (you may not need the same coverage for every vehicle).
Here are some ranges for commercial auto insurance premiums across the U.S.:
Your Michigan commercial auto insurance rates will vary depending on:
An independent insurance agent in Michigan can find the best commercial auto insurance policy for your company’s needs and budget. Independent agents can work with multiple insurance companies, so you’ll be able to review multiple quotes and choose the coverage that is best for your unique risks.
Commercial car insurance cost: $1,200 - $2,400 per year
Commercial truck insurance cost: $800 - $2,000 per year
Commercial bus insurance cost: $35,000 per year
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