Commercial Auto Insurance for Electricians
Electricians travel frequently, often multiple times each day between work locations and jobs sites. Whether you and your employees travel in personal cars, work trucks or electrician’s vans, electrician’s auto insurance is one of the most important types of protection your company needs. Commercial auto insurance for electricians protects you and your company from suffering the severe financial setbacks that are commonly caused by auto accidents. Auto accidents can damage or destroy the vehicle you’re driving and the professional tools and equipment you’re carrying inside. Depending upon how you choose to structure your coverage, your business auto insurance can protect you from vehicle and equipment losses, or damages caused by collisions, theft and rollover accidents. With bodily injury coverage, you and your employees will have emergency and medical care expenses paid for as well.
Commercial Auto Liability Insurance For Electricians
Basic liability auto insurance for electricians protects any vehicle that you on your employees use for work purposes. Liability insurance is designed to protect your company and other drivers when you or your employee is at fault for an auto accident. It protects you by limiting the amount of damage and loss you’ll need to pay for directly. It protects other drivers by paying for damages they didn’t cause. Liability auto insurance covers you and your employees when you’re driving for work purposes. When employees are driving to or from a jobsite for example, or delivering materials and equipment, your electrician’s commercial auto insurance coverage has you protected.
Combined Single Limits
A combined single limit (CSL) policy provides you with one fixed maximum payout amount per accident. This policy does not differentiate between bodily injury and property damages. Instead, it simply provides you with coverage up to the total maximum as defined in your policy. For example, if you cause an accident that injures several people, 90 percent of your CSL policy may go towards bodily injury payments since that is where it’s needed most.
Split Limit Policy
A split limit auto insurance policy places limits on the maximum benefits that will be paid for specific damages. Each state has set minimum amounts of coverage you can select, and the policy defines maximum payouts for property damages and bodily injuries separately.
For example, if you choose a split limit policy of $100,000/$300,000/$50,000 for your commercial electrician’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 additional protection against the loss of your business vehicles. For example, if one of your electricians is driving the company tool truck and has a bad auto accident, the truck may be totaled. If you carry physical damages protection on your business auto insurance policy it will pay for the cost to replace that tool truck.