Commercial Auto Insurance

UNDER THE HOOD OF A BUSINESS AUTO POLICY

Commercial Auto insurance is a lot like your personal car insurance in terms of what it offers. You can insure everything from cars to delivery vans, trucks, etc. You can easily customize the policy to provide you with exactly what’s needed to cover your company’s specific risks. This includes:

• Bodily Injury & Property Damage Liability. Pays for defense costs and settlements up to the amount of coverage in the policy for damage you cause to another person or their property. The amount of coverage you buy  will depend on how much you need to properly protect your assets.
• Medical Payments. Pays for reasonable medical expenses if you or your passengers are injured and not in the course of employment.
• Uninsured Motorists/Under insured Motorists. Pays for your injuries if the other driver has no insurance or not enough coverage. Unfortunately, this is very common. One in seven drivers go without insurance*.
• Comprehensive. Covers theft of your vehicle and property damage to your vehicle from vandalism, flood, fire, etc.
• Collision. Pays for damage to your vehicle if you’re in an accident or it’s hit by another object. Hired & non-owned auto. Provides coverage for vehicles you rent and if your employees are using their cars for business. Pays for medical bills, damaged property, and auto repairs.

Commercial Lines Underwriting Appetite Guide

Preferred:

General

• Stable, long-term ownership
• Best in class
• Financially sound
• Professional loss control in place
• All lines of supporting Business
• Loss free
• Risk Selection Guide rating of 1

  Property:

• Building designed for current occupancy
• Age of building is 20 years or less and properly protected
• Located in protection class 8 or lower

  Liability:

• Limited products/ completed operations exposure
• Primarily premises exposures
• No long tail claim exposures
• No professional exposures

  Auto:

• Unmodified private passenger autos, light trucks, and medium trucks
• Service and Rental class vehicles
• Documented hiring and screening process
• Local and intermediate travel
• Workers Compensation:
• Stable workforce with minimal turnover
• Well documented payroll history
• Written hiring and workplace safety procedures
• Customers with existing credit mods
• Minimal height exposures

Acceptable:

General

• New ventures with previous industry experience
• Positive trending financial experience
• Few losses over the past 5 years with a documented response to each loss
• Supporting business
• Rick Selection rating of 2

  Property:

• Age of the building under 50 years with updates in the past 20 years
• 50+ year old buildings with substantial updates in the past 10 years
• Located in protection class 10 or lower if properly protected

  Liability:

• Managed products/ completed operations exposure
• Limited long tail claim exposures
• Limited professional liability exposures

  Auto:

• Any size classification
• Any business use classification
• Minimal losses over the last 5 years with a documented response to each loss
• Newer vehicles and dries with clean MVR’s
• Less than 200 Mile radius travel

  Workers Compensation:

• Customers with baseline to minimal debit mods
• Managed height exposure

Preferred Classes:

Contractors

• Excavation contractors includes grading, site prep, and drainage tile installation
• Concrete contractors
• HVAC contractors
• Electrical contractors
• Plumbing contractors
• Landscaping and lawn care
• Janitorial services
• Floor covering installation and cleaning

  Light Manufacturing and Industrial Processing

• Machine shops
• Tool and die
• Stone product manufacturers
• Plastic or rubber goods manufacturers
• Metal goods manufacturers
• Furniture and cabinet manufacturing
• Light electrical equipment manufacturing

  Mercantile Risks

• Lessors risk only- retail
• Print shops
• Bakeries
• Restaurants
• Fruit and vegetable distributors
• Beverage distributors
• Grocery stores
• Furniture stores
• Florists and nurseries
• Auto parts stores
• Electrical equipment distributors

  Service

• Vending services
• Office machine installation and repair
• Dental laboratories
• Golf courses
• Funeral homes and cemeteries
• Auto repair
• Barbers and beauticians

  Habitational

• Homeowners’ associations (with property and liability exposures only)
• Condominium associations

  Office

• Lessors risk only -offices
• Law offices
• Insurance agencies
• Accounting offices’ real estate offices

  Institutional

• Libraries
• Adult music and art instruction

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