Commercial Motor Insurance is a comprehensive policy that covers damage to your business vehicle or anyone else’s vehicle or property, but not third party injuries, which is why you also need to take out a Compulsory Third Party (CTP) Policy.

Can you insure a fire truck?

If you own a retired vintage or antique fire truck, semi tractor/trailer, bus, dump truck, or tow truck, Hagerty may be able to offer insurance for these specialized collector vehicles.

What is covered in commercial insurance?

Commercial insurance plans are designed to protect small businesses from injury claims, cyberattacks and other liabilities. There are many types of coverages including commercial property, workers’ compensation and general liability insurance.

Who is insured for personal use of a company vehicle?

The employer is insured for any covered auto, but your employees are insured for only the vehicle the business owns, hires, or borrows and if used in the scope of the business operations. While the employer would be covered for the personal use of a company vehicle, the employee may not.

Can a commercial auto policy be used for personal use?

The commercial auto policy provides coverage for the vehicles owned, hired or borrowed by the corporation, but not the scheduled vehicles personally owned by an individual. The intent is to exclude the personally owned vehicles that should be insured by a personal auto policy.

Who is the principal insured of a business vehicle?

An insurance contract usually requires that the owner of a vehicle be named in the policy “Declarations” as the “principal insured.” If you drive any of the same vehicles for both business and pleasure, make sure you tell your insurance agent who holds the vehicle’s title, you personally or your company.

Can a commercial truck be insured for personal use?

The car insurance application process is the same for a commercial truck for personal use, so it will feel familiar. In some cases, your commercial truck could be added to your personal auto insurance policy, depending on several factors and who your current provider is. Learn more about insuring your commercial truck for personal use.