Commercial auto insurance helps protect a company from potential financial losses after an accident or incident involving a company vehicle. Most states require this coverage.  

Contact the agents at Lupton & Luce in Riverhead, New York, today to get help building your custom commercial auto insurance policy.  

What Is Commercial Auto Insurance? 
If your company owns vehicles, it may be held legally liable for damages if there’s an auto accident. Commercial auto insurance can help pay for certain damages, depending on the coverage you choose.  

In New York, all vehicle owners, business and personal, must purchase auto insurance that meets the state’s minimum liability insurance requirements. If your company vehicles are leased or financed, your lienholder also has insurance requirements to help protect their investment.  

In New York, drivers must carry liability insurance to cover bodily injury and property damage. Depending on the type of vehicles your company uses, you may be required to carry higher limits.  

What Does Commercial Auto Insurance Cover? 
Your commercial auto insurance coverage depends on the type of vehicles your company uses, whether it owns them, and the value of the vehicles. Depending on your company’s needs, your agent may recommend the following coverages:  

• Liability insurance covers bodily injury and property damage. It may help pay for third-party damages if you or one of your employees causes an accident while driving for everyday business. This coverage is required in New York. 
• Collision insurance helps pay for damages to the covered vehicle after an accident that involves colliding with another vehicle or object. Your lienholder may require collision coverage.   
• Comprehensive insurance helps pay for non-accident-related damages, including fire, theft, hitting an animal and vandalism. Your lienholder may also require that you purchase this coverage. 
• Medical payments/Personal injury protection helps pay for some losses, including medical bills, if the driver of the insured vehicle or their passengers are injured in an accident.
• Uninsured/Underinsured motorist insurance helps pay to repair or replace your vehicle if you are in an accident and the other driver is liable but doesn’t have adequate insurance coverage. 
• Hired and non-owned auto (HNOA) coverage is needed for coverage on vehicles the business uses for business reasons but does not own. HNOA coverage works for rentals, employee vehicles used for business purposes and leased vehicles.  

Your agent may also recommend that you add these commercial auto coverages or endorsements:  

• Roadside assistance 
• Rental car reimbursement 
• Gap insurance 
• Inland marine insurance 
• Custom parts coverage 
• Replacement cost vehicle coverage 

Get the Commercial Auto Insurance You Need Today 
Commercial auto insurance may be necessary to comply with New York’s laws. It can help provide your company with important financial protection after an auto accident, as well. Contact Lupton & Luce today to get a personalized quote for commercial auto insurance.  

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