Commercial Automotive INSURANCE

Protect your fleet and your operators from legal liability.

Why choose Magaya Insurance Services for your commercial automotive insurance?

Commercial automotive insurance, also known as commercial auto insurance, protects businesses that use vehicles as part of their operations. Not only limited to cars, commercial automotive insurance provides protection spanning across a broad range of vehicles used in business, including cars, trucks, vans, trailers, SUVs, forklifts, cranes, and other specialized vehicles used for business purposes. It typically covers not only the vehicles themselves but also liability for damage or injury caused by their operators.

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With more than 30 types of vehicle insurance coverage, we customize your commercial insurance quotes with exactly what you need, when you need it.

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Get the personal attention you deserve. Our personalized policy review ensures you always have the best coverage at competitive rates.

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Whether you need assistance with a claim or want to purchase a new policy, you can count on fast, attentive, concierge-level service.

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With decades of experience serving businesses of all sizes the Magaya Insurance Services team truly understands the needs of the industry.

How does commercial vehicle insurance safeguard your business?

Coverage will vary according to the terms in your policy, however, commercial vehicle insurance can provide you with the following protections:

Vehicle Damage Coverage: This coverage protects against physical damage to the vehicle caused by accidents, collisions, theft, vandalism, or other covered perils. It typically includes repair or replacement costs up to the policy limits.

Liability Coverage: Liability coverage protects your business against claims or lawsuits arising from bodily injury or property damage caused by the forklift or specialized vehicle. It helps cover legal expenses, medical costs, property repair, and potential settlements or judgments.

Medical Payments Coverage: Medical payments coverage provides coverage for medical expenses incurred by individuals who are injured in accidents involving the insured forklift or specialized vehicle, regardless of fault.

Uninsured/Underinsured Motorist Coverage: This coverage protects the business and its employees if they are involved in an accident with a third party who lacks sufficient insurance or is uninsured. It helps cover medical expenses, property damage, and other losses caused by the at-fault party.

Comprehensive Coverage: Comprehensive coverage protects against damage to the vehicle caused by non-collision incidents, such as fire, theft, vandalism, falling objects, or natural disasters.

Equipment Breakdown Coverage: This coverage helps cover the cost of repairing or replacing essential components of the vehicle in the event of mechanical or electrical breakdowns.

Cargo Coverage: If the vehicle is used to transport goods or materials, cargo coverage can be added to protect against damage or loss of the cargo being transported.

Rental Reimbursement: In the event of a covered accident or damage, rental reimbursement coverage can provide compensation for the cost of renting a replacement vehicle while the insured vehicle is being repaired or replaced.

Hired/Non-Owned Vehicle Coverage: This coverage extends liability protection when employees use rented or non-owned vehicles for business purposes.

Frequently Asked Questions About Magaya Commercial Automotive Insurance

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1. What types of vehicles are covered under commercial automotive insurance?

Commercial automotive insurance covers a range of vehicles used for business purposes, including cars, trucks, vans, delivery vehicles, buses, trailers, forklifts, and other specialized vehicles.

2. What does commercial automotive insurance typically cover?

Commercial automotive insurance typically covers liability for bodily injury and property damage caused by insured vehicles. It may also include physical damage coverage for repairs or replacement of vehicles, medical payments coverage, uninsured/underinsured motorist coverage, and other optional coverages specific to the business’s needs.

3. Is commercial automotive insurance mandatory?

The requirement for commercial automotive insurance varies depending on the jurisdiction, the type of business, and the vehicle class. In many cases, businesses that operate vehicles are legally required to carry commercial automotive insurance. The licensed insurance advisors at Magaya Insurance Services can counsel you on the best types of coverage for your fleet.

4. Can personal auto insurance cover vehicles used for business purposes?

Personal auto insurance is generally not sufficient to cover vehicles used for business purposes. In fact, personal auto insurance policies often specifically exclude coverage for commercial use of vehicles. It’s important for businesses to obtain appropriate commercial automotive insurance to ensure proper coverage for business-related vehicle use.

5. How are commercial automotive insurance premiums determined?

Commercial automotive insurance premiums are based on several factors, including the types of vehicles, the business’s location, the number of vehicles insured, the driving records of the drivers, the purpose of vehicle use, and the coverage limits chosen. At Magaya Insurance Services, we will assess these factors to determine the potential risk and calculate your premium amount. 

6. Can I customize my commercial automotive insurance policy?

Yes, your commercial automotive insurance policy can be customized to suit your specific needs. Magaya Insurance Services offers various coverage options and allows businesses to tailor their policies by selecting the appropriate coverages, coverage limits, and deductibles. Connect with one of our licensed insurance advisors to explore your options and determine the best coverage for your business.

7. How do I file a claim for commercial automotive insurance?

In the event of an accident or damage, the insured business should contact us promptly to report the incident and initiate the claims process. Your insurance adjuster will guide you through the necessary steps to file a claim, provide the required documentation, and assist in evaluating and settling the claim.

8. Do you offer truckers' liability insurance?

Yes, we offer truckers’ liability insurance, an important form of commercial automotive insurance designed to provide coverage for truckers or trucking companies who operate commercial trucks as part of their business.

Truckers’ liability insurance focuses on the unique risks and exposures associated with the trucking industry. It typically provides coverage for bodily injury and property damage liability that may arise from accidents involving the insured truck or trucks. This includes coverage for injuries or damage caused to third parties, such as other vehicles, pedestrians, or property, as a result of a trucking accident.

In addition to liability coverage, truckers’ insurance may also include other important coverages such as physical damage coverage (for damage to the insured truck itself), cargo insurance (to protect the cargo being transported), and uninsured/underinsured motorist coverage (to provide protection if the at-fault party in an accident does not have sufficient insurance coverage).

Overall, truckers’ liability insurance is a crucial component of commercial automotive insurance for trucking businesses, as it helps protect against the financial risks associated with accidents, injuries, and property damage that may occur while operating commercial trucks.

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