Commercial auto insurance provides an array of coverage such as the following:
· Liability insurance might help pay for the damage your business vehicle causes to others. Michigan state law requires all drivers to carry minimum levels of residual bodily injury and property damage liability.
o Bodily injury liability coverage may pay for third-party medical bills and sometimes death benefits.
o Property damage liability coverage may pay for damage to the other party’s property.
· Comprehensive insurance is coverage for damages after an accident or incident unrelated to a collision, such as vandalism, weather damage or a fire.
· Collision insurance may pay for damages to the vehicle sustained in an accident with another vehicle or a stationary object.
· Hired/non-owned auto liability insurance covers personal, rented or leased vehicles you use for business.
· Personal injury protection (PIP) coverage provides coverage for reasonable and necessary medical expenses incurred from an accident-related injury, as well as wage loss and replacement services for up to three years following the date of the accident. For policies that are issued or renewed after July 1, 2020, Michigan law requires all drivers to carry minimum amounts of PIP coverage.
· Medical payments coverage might pay the medical bills if you or a passenger suffered injuries in an accident. Sometimes it covers other losses, such as lost income.
· Uninsured/underinsured motorist insurance may help cover damage caused by someone who doesn’t have adequate liability coverage.