One of the most challenging decisions you will make as a business owner is choosing the right Insurance policy which is capable of protecting your business assets as well as your employees against unexpected financial loss and the threat of a lawsuit. The first step involved in choosing the right type of Auto Insurance is to understand the different types of Commercial Insurance coverage's which are available.

Basically, Commercial Auto Insurance break vehicles down into two major categories

The private passenger -type automobiles such as cars, vans, SUVs, and small trucks
Trucks, trailers, and tractors which include pickups, dump trucks, dry freight, refrigerator box, auto hauler, tanks, and so on.
There are two main categories of commercial auto insurance: General Insurance and Specialized Commercial Auto Insurance.

The General Commercial Auto Insurance comprises of six types of coverage

• Comprehensive coverage: This type of coverage kicks in when a vehicle is vandalized or sustains damages which are caused by something other than another vehicle like an animal or a fallen tree.
• Collision insurance: this type of insurance covers damages to a vehicle which are sustained when the vehicle gets hit by another vehicle or object or the vehicle overturns. This type of insurance is greatly required for vehicles with loans or lease on them.
• Uninsured/underinsured motorist: This type of insurance covers the damages and medical cost incurred in an accident caused by a motorist who is either not insured or underinsured.
• Liability insurance: This type of insurance is generally required by most states. It kicks in when you caused an accident. It protects you not only from damages but also provides you with a legal defense in case the other party files a lawsuit against you. "Property damage liability" covers damages to the car or property of the other party while "bodily injury liability" covers injuries or death caused by the car accident.
• Medical payment coverage: This type of insurance covers medical cost incurred by anyone in your vehicle due to a car accident, irrespective of whose fault the accident is.
• Personal injury protection: This type of insurance covers injury-related cost incurred by you or your employees when involved in an accident regardless of whose fault the accident is.

The Specialized Commercial Auto Insurance is intended for businesses which require the use of specialized vehicles in performing daily activities. Some common types of custom coverage's which are designed to protect specialty vehicles include coverage for catering trucks, landscaping vehicles coverage, and trade-related vehicle coverage.
Conclusively, no matter the type of business you run or the type of automobile vehicle you use, a Commercial Insurance policy can be customized to meet your specific need.

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