Business Auto Insurance for Driving Schools
By their very nature, driving schools involve frequent road travel. You and your employees may drive on public roads several times each day, or you may drive to and from training locations regularly. This increased driving time increases the risks of you or your employees having an auto accident. That’s why it’s important for your company to carry business auto insurance for driving schools. Commercial auto insurance for driving schools is a way to protect your company from suffering the financial problems that are often caused by auto accidents. Some auto accidents will damage the vehicle that is involved and cause physical injuries to the people who are in it. You can choose to structure your coverage so that your business auto insurance protects you from vehicle or professional equipment damages, or losses caused by roll overs, collisions, theft and fire. Bodily injury coverage makes sure that you and your employees will have accident created medical care expenses paid for as well.
Commercial Auto Liability Insurance For Driving Schools
Commercial auto liability insurance for driving schools is basic protection that is required by law in most states. This insurance protects other drivers when you or your employees causes an accident. Business auto liability insurance protects your company from losses by restricting the amount of damage you’ll have to pay for directly. Similarly it provides protection for driving victim. So that they do not have to pay for damages they did not create. Liability auto insurance provides protection for you and your employees when you are driving as part of your job duties. When employees are driving to or from a training location for example, or driving new students around their public test route, your driving school’s commercial auto insurance coverage keeps you protected.
Combined Single Limits
A combined single limit (CSL) policy pays for a combined maximum of bodily injuries and property damages per accident. It does not limit the amounts spent per type of damage. It just supplies you with coverage up to the total maximum that is configured on your policy. For example, if one of the drivers that you employ causes an accident that creates multiple physical injuries, most of your CSL policy benefits may be spent for bodily injury medical payments since that is where it’s needed most.
Split Limit Policy
A split limit auto insurance policy is different in that it specifies limits on the maximum benefits that it will pay for specific damages. Each state sets minimum coverage amounts in their laws and your specific insurance policy sets separate maximum payout limits property damage and bodily injuries separately.
For example, if you choose a split limit policy of $100,000/$300,000/$50,000 for your commercial driving school’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 business protection against the loss of your company vehicles. For example, if one of your driving instructors is driving the company instructor passenger car and has an accident, the car may be damaged beyond repair. If you carry physical damages protection on your business auto insurance policy it will pay for the cost of replacing that car.