Contractors Insurance

Commercial Auto

Coverage For Your Vehicles

Our comprehensive Commercial Auto packages allow all types of contractors to customize a policy that fits your individual business needs, ensuring that the vehicles you own, rent, or lease are always adequately protected.

What is Commercial Auto Insurance?

A Commercial Auto policy protects against physical and liability damage caused by business-related trucks, vans, or passenger vehicles.

Who needs it?

A business owned vehicle used for:

  1. Commuting to and from a Jobsite.
  2. Transporting business-related tools and equipment.
  3. Transporting clientele and employee personnel.
What’s the difference between Personal and Commercial Auto insurance?

Primarily it’s the type of coverage provided. Commercial auto policies can provide broader coverages with higher limits for an increased risk exposure emerging from daily operations, where ‘as Personal auto policies typically do not cover vehicles used for commercial purposes. As a Contractor, many project owners will require you to obtain a Commercial Auto policy for the following reasons:

  1. Commercial projects that require limits up to $1,000,000 (CSL) or higher.
  2. General Liability policies will not cover a vehicle-related claim on a Jobsite.
  3. Coverages such as Additional Insured, Waiver of Subrogation, Primary Wording, and Hired & Non-Owned Auto availability on a commercial policy.
How am I Covered?
  • Bodily Injury – provides coverage for bodily injuries or death resulting from an at-fault accident and most cases, provides your legal defense as well.
  • Combined Single Limit (CSL) – a standard liability policy that offers separate limits apply to bodily injury claims or property damage. A combined single limits policy has the same dollar amount of coverage per covered occurrence for bodily injury or property damage, one person or multiple individuals.
  • Med Pay – provides coverage for injury-related medical expenses incurred by an insured driver and passengers of a covered vehicle accident.
  • Comprehensive – provides coverage for damage caused by theft, vandalism, flood, fire, and other covered perils.
  • Collision – provides coverage for damage to your vehicle when it collides with other vehicles or objects.
What if I Rent a Vehicle?

A commercial policy can provide Hired & Non-Owned vehicle coverage extending your liability and physical damage coverage to a vehicle you rent or borrow. You may also extend liability coverage to an employee’s vehicle while used on the job.

What if I Break Down?

By selecting the roadside assistance option, the carrier will reimburse you up to the limits for your roadside expenses. Most carriers will even dispatch a towing service directly, so you will not have to pay out of pocket at the time of service.

What are my Payment Options?

Our program offers a variety of options when it comes to purchasing your Commercial Auto policy.

  1. Full Payment Option – Pay the policy premium with a single payment.
  2. Direct Bill Option – The carrier will send you a monthly statement.
  3. Financing Option – Monthly payments set up through a third-party finance company.
 Why choose Fairbanks Insurance Brokers?

Our extensive track record shows that when providing contractors with affordable Commercial Auto coverage, no job is too big or too small in adequately fulfilling individual insurance needs or complex contract demands required for bidding on a project.