There are many different types of commercial auto insurance policies available, so it is important to understand the different options before choosing a policy. Some of the different types of coverage available include:
Property damage liability: This type of coverage will pay for damage that your company’s vehicles cause to other people’s property, such as other vehicles or buildings.
Bodily injury liability: This type of coverage will pay for medical expenses and other damages that your company’s employees cause to other people if they are involved in an accident while driving a company vehicle.
Collision: This type of coverage will pay for repairs to your own company’s vehicles if they are damaged in an accident.
Comprehensive: This type of coverage will pay for repairs to your own company’s vehicles if they are damaged by something other than an accident, such as a fire or theft.
Uninsured and underinsured motorist: This type of coverage will pay for medical expenses and other damages if one of your employees is involved in an accident with a driver who does not have insurance or does not have enough insurance to cover the damages.
Medical payments: This type of coverage will pay for medical expenses for your company’s employees if they are injured in an accident while driving a company vehicle.
Personal injury protection: This type of coverage will pay for medical expenses and other damages for you and your family members if you are involved in an accident, regardless of who is at fault.
What is the minimum amount of commercial auto insurance required in Texas?
The minimum amount of commercial auto insurance required in Texas is $30,000 for bodily injury liability per person, $60,000 for bodily injury liability per accident, and $25,000 for property damage liability per accident.
It is important to note that these are the minimum amounts of coverage required by law. It is generally advisable to purchase a policy with higher limits of coverage to protect your business in the event of a large accident.
