Business Auto for Roofers
If you are a roofing contractor and you’re searching for better options on business auto insurance for roofers you have found the right company!
Call Pathway Insurance at 1-800-998-0662 as we offer competitive solutions for commercial automobile insurance for single vehicles or fleets in all 50 states directly and by means of our referral network a partner agencies across the country.
You can submit your request for information and quotes seven days per week online when you click on Business Auto Insurance for Roofers.
Business Auto for Roofers Is Not the Same As Personal Automobile Insurance.
You should be aware there are significant differences in coverage between personal automobile insurance and commercial automobile insurance.
The first question that should be considered is whether or not you need to purchase business automobile insurance?
Let’s assume you are a subcontractor and you merely drive to your work assignments each week and you do not transport materials, tools or equipment.
You may not need to purchase a business auto insurance policy. We use the word ‘may’ loosely as there may be other circumstances involved that could require you to carry a commercial auto insurance policy.
What if employees or subcontractors drive your vehicles? What if company vehicles are registered in the name of the business? What if you transport material equipment and employees in your company vehicles?
You positively need commercial auto insurance and must list each driver operating your vehicles on your policy.
Don’t make the mistake of assuming your personal automobile insurance policy will cover you because it is less expensive.
The typical personal auto policy contains exclusions of coverage in the fine print that will allow the insurer to deny claims when vehicles are used for business purposes.
How Commercial Auto Differs from Personal Auto?
Commercial auto insurance policies include something called covered auto designation symbols.
What is a covered auto designation symbol? The symbols specify what type of coverage applies to the vehicles owned by the business.
For example with a personal automobile policy you simply list the drivers and vehicles, adding the appropriate coverage and deductibles you desire.
The business auto policy on the surface may seem similar in some instances with the personal auto policy however you need to choose how you want the vehicles to be covered by picking the covered auto designation symbol.
There are a variety of symbols that you have to choose from, picking the wrong symbol can lead to dire financial consequences.
What Are the Liability Coverage Auto Symbols for Commercial Automobile Insurance?
Liability Coverage Auto Symbols:
1 = Any “Auto”
This is the broadest symbol designation and covers any “auto.”
2 = Owned “Autos” Only
This symbol covers any “auto” owned by an insured, including any “auto” that is acquired after the policy begins. The symbol also applies to any “trailer” while it is towed by an owned vehicle.
3 = Owned Private Passenger “Autos” Only
This symbol covers only private passenger type “autos” owned by the insured, including any private passenger type that may be acquired after the policy begins.
4 = Owned “Autos” Other Than Private Passenger “Autos” Only
This symbol covers all “autos” other than private passenger type “autos” (vans, trucks, motorized equipment) owned by an insured, including such vehicles that may be acquired after the policy begins. The symbol also applies to any “trailer” while it is towed by an owned vehicle.
5 = Owned “Autos” Subject To No-Fault
Any “auto” owned by an insured that is garaged or licensed in a state where no-fault benefit laws exist. This symbol also applies to any “auto” acquired after the policy begins.
6 = Owned “Autos” Subject To A Compulsory Uninsured Motorist Law
Any “auto” owned by an insured that is garaged or licensed in a state where drivers are required to carry uninsured motorist coverage. This symbol also applies to any “auto” acquired after the policy begins.
7 = Specifically Described “Autos”
Only those “autos” that are specifically listed on the policy are covered. The symbol also applies to any “trailer” while it is towed by a listed vehicle.
8 = Hired “Autos” Only.
This symbol covers only those “autos” that an insured leases, hires, rents, or borrows. HOWEVER, it does NOT include “autos” leased, hired, rented, or borrowed from an employee, partner, or member of an insured’s household.
9 = Nonowned “Autos” Only
This symbol covers only those “autos” an insured does not own, lease, hire, rent, or borrow that are used in the insured’s business, including “autos” owned by employees, partners, or members of an insured’s household, but only while those non-owned “autos” are used either in the insured’s business or personal affairs.
19 = Mobile Equipment Subject To Compulsory Or Financial Responsibility Or Other Motor Vehicle Insurance Law Only
This symbol only applies to land vehicles that are considered mobile equipment under the policy’s mobile equipment definition. It allows extension of coverage for vehicles in states that confer vehicle status by making certain types of self-powered equipment subject to registration/licensing law.
In our next article we will consider the physical damage symbols.
Quotes for Business Auto for Roofers Available All 50 States!
Call us at 1-800-998-0662 and one of our licensed agents will help you determine whether or not you need commercial automobile insurance for your business or send us your request for an online quote 7 days per week when you click Business Auto Insurance for Roofers.