Commercial Auto Insurance for Drywall Contractors
Drywall contractors drive a lot. Travelling from one client location to another, sometimes multiple times every day, can put your company at greater risks of having auto accidents. Whether you or your company employees use personal passenger vehicles, light weight pickup trucks or company supplied contractor vans, drywall contractor’s auto insurance can be one of the most important levels of professional protection your company should have. Commercial auto insurance for drywall contractors is the best way to protect your company from suffering big financial problems when auto accidents occur. Common problems include having to pay for the cost of replacing work vehicles, tools and customer project supplies that are damaged or destroyed when accidents happen. You have a variety of options for commercial auto insurance coverage. Your choices can help protect your company from losing expensive vehicles and equipment in collisions or roll-over accidents. It can also protect you from losses caused by vandalism and theft or hit and run accidents. When you or your drivers are injured in an accident, bodily injury coverage pays for the cost of emergency and ongoing medical care as well.
Commercial Auto Liability Insurance For Drywall Contractors
Commercial auto liability insurance for drywall contractors is generally required by law in most states. This is the most basic form of auto insurance coverage and it’s designed to protect other travelers when you or your employees are the cause of an auto accident. Liability protects accident victims by paying for their property damages and bodily injuries so that they aren’t left holding all the bills for an accident they didn’t cause. This insurance also protects your company by preventing you from having to pay most of the expenses out of pocket as well. Commercial liability auto insurance provides protection for you and your employees when you or they must drive for work. When your employed drywall contractors are driving to a new client job site for example, or they are delivering job materials and tools to your company warehouse, your drywall contractors commercial auto insurance protection is in effect.
Combined Single Limits
CSL insurance policies, or combined single limit policies, provide you with protection on a per accident basis. This policy doesn’t limit benefits based on the type of damages or injuries sustained. Instead, it gives you accident coverage up to the total maximum amount that is listed on your policy. For example, if you cause an accident that doesn’t injure anyone but causes a lot of property damages, the benefits from your CSL policy may all go towards property damage payments since that is where it’s needed most.
Split Limit Policy
A split limit auto insurance policy differs in that it places limits on the maximum total amount of benefits that will be paid for specific types of damages. Each state has different laws for the minimum amount of coverage you can legally carry, and your business policy determines the maximum payouts for either bodily injuries or property damage separately for each accident.
For example, if you choose a split limit policy of $100,000/$300,000/$50,000 for your commercial drywall contractors 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 an additional layer of protection against the potential loss of your company vehicles. For example, if one of your drywall employees is driving a company-owned tool truck to a nearby jobsite and has an auto accident, the truck may be damaged beyond repair. If you carry the optional physical damages coverage on your business auto insurance policy, that coverage can pay for the expense of replacing your company’s tool truck.