Commercial Auto Insurance for Carpenters
Carpenters commonly travel between work locations in a passenger vehicle, work pickup or company van. While most carpenters may not have to drive to multiple locations each day, it’s common for them to drive several times each week depending upon their current work schedules. Increased business driving increases the chances of an auto accident. This increased risk is why it’s important for you to carry commercial auto insurance for carpenters. This coverage protects your company from having to pay accident damages and losses out of pocket. When accidents are severe enough, you risk losing your vehicle and the expensive tools and equipment you or your employee was carrying. Your carpenters business auto insurance can be configured to protect your company from these types of losses. It can also provide protection from damage caused by a collision, theft or a rollover accident. Additional coverage can pay for medical or emergency bills that arise due to bodily injuries.
Commercial Auto Liability Insurance For Carpenters
Commercial auto liability insurance for carpenters is required by law in some states. It provides protection for the vehicles that you and your employees drive for work purposes, such as personal cars and company-owned work vans. Liability coverage provides protection when you or one of your company employees is the cause of an auto accident. It protects your company by placing limits on the amount of damages or loss you will have to pay for yourself. It pays for repairs and injuries to other drivers so that that they aren’t made to pay for accidents they aren’t at fault for.
Liability business auto insurance provides coverage when you or your employees are driving due to work needs. If employees are driving to a customer’s home to work for example, or delivering are delivering carpentry tools, your carpenter’s commercial auto insurance coverage keeps you protected.
Combined Single Limits
A combined single limit (CSL) policy provides a specific amount of coverage per accident. CSL policies do not limit benefit payments according to specific types. It instead gives you protection up to the maximum amount set in your policy. For example, if you are the cause of an accident that hurts several people, the full benefits from your auto insurance will pay for bodily injury needs. If the accident didn’t cause any injuries, it may delegate 100 percent of the benefits to property damages instead.
Split Limit Policy
Split limit auto insurance policies define limits on the total amount of benefits that are paid for individual types of damages. Each state in the nation designates the minimum dollar amount of coverage you may legally carry. Your individual business policy sets the maximum dollar payouts for property damages separately from bodily injuries. For example, if you choose a split limit policy of $100,000/$300,000/$50,000 for your commercial carpenter’s auto insurance:
- Your policy would pay no more than $100,000 for each individual’s bodily injuries.
- Your policy will pay no more than $300,000 for the combined total of bodily injuries.
- Your policy will pay no more than $50,000 for the combined total of property damages.
Physical Damages Coverage
Physical damages coverage is extra commercial insurance protection against the losses of your business vehicles. For example, if one of your carpenters is transporting job materials in the company-owned wood supply truck, he may have auto accident that destroys that vehicle. By having physical damages protection as part of your business auto insurance coverage, that that insurance pays for the cost of replacing that truck.