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Business Auto Insurance for Transportation & Logistics

Last updated on March 17th, 2014

Roanoke covers vehicles your own, lease or operate  with Business Auto insurance. Whether you have one vehicle or an entire fleet, you need this coverage. Moreover, if your employees drive their own cars for company business and an accident occurs, you may  be held responsible. You could also face significant exposures if one of your employees hires or leases a vehicle for company business. There are several components to a Business Auto insurance policy, including:

Liability Coverage

This provides protection against liability arising out of the ownership, maintenance, or use of any insured automobile. The insuring agreement agrees to pay damages for bodily injury or property damage for which you are legally responsible because of an automobile accident involving a covered auto. In addition to the payment of damages for which the insured is legally liable, the insurer also agrees to defend the insured for all legal defense costs. Defense costs apply in addition to policy limits.

Medical Payments Coverage

The insurer will pay all reasonable and necessary medical and funeral expenses incurred by an insured because of bodily injury caused by an accident. The insured is the named insured, the insured’s employees and guests, and any other person occupying a covered auto. This coverage offers a nominal limit of insurance to pay injury claims (without regard to fault).

Uninsured/Underinsured Motorist Coverage

Uninsured Motorist pays for bodily injury to an insured and/or their passengers that are injured by an uninsured motorist, a hit-and-run driver, or a driver whose insurer becomes insolvent. These benefits are paid under the named insured’s policy.

Similar to Uninsured Motorist coverage, Underinsured Motorist applies when the other driver has auto liability insurance at the time of an accident, but the limits carried may be insufficient to pay for damages for which the driver is responsible. The two coverages are mutually exclusive and do not overlap or duplicate each other.

Comprehensive Coverage

Provides protection against loss or damage to a covered auto resulting from loss other than a collision or upset. This coverage also provides for supplemental payments for transportation expenses in the event of total theft of a covered auto or a non-owned auto.

Collision Coverage

This coverage provides protection against loss or damage to a covered auto or a non-owned auto resulting from the impact with another vehicle or object. Collision losses are paid regardless of fault. 

Rental Reimbursement

The Business Auto policy provides a coverage option if an auto is insured for Comprehensive coverage that pays for the rental of a temporary replacement vehicle only if the auto is a private passenger type auto and is stolen or otherwise not drivable because of an accident. Daily and maximum limits apply to this coverage.

Towing and Labor

When this coverage is added, the insurer pays for towing and labor costs each time a covered auto or non-owned auto is disabled, up to a stated amount.

Personal Injury Protection

Personal Injury Protection (PIP) is an endorsement that adds no-fault benefits. No-Fault means that in the event of an automobile accident each party collects from his or her own insurer, regardless of fault. The PIP endorsement is only required in certain states with No-Fault Laws. The endorsement applies only to bodily injury and not to property damage. (The state of Michigan is the exception to property damage.) No-Fault Laws vary widely from state to state.

Contingent Auto Liability

Protects you in the event a motor carrier that you’ve hired has Auto Liability insurance insufficient to cover an auto accident involving bodily injury or property damage. This may occur because of inadequate limits of insurance, the policy has been voided, cancelled or suspended,  or the insurer of the policy is insolvent. Legal precedent has been set holding the domestic forwarder/property broker and shippers liable in such cases.

All Your Business Insurance Needs Are Covered with Roanoke

Roanoke knows the transportation and logistics industry. That’s what we do. We have the expertise, experience and products to protect your operation, employees and financial assets along with the goods in your care and custody for the clients you serve. Find out how we can provide you with the insurance programs you need to be properly protected. Please contact us at 1-800-ROANOKE or complete the Contact form located above.