Home Browse Insurance Locations Customer Service About LOGIN Commercial Auto Insurance Available in all 50 states! Drive your business’s success with Bankers Insurance. As an independent insurance agency, we provide quotes from major commercial auto insurance companies and present you with options. Use our tools and resources to differentiate your business and stay ahead of the competition. It’s why we’re here. It’s what we do. Let us be your trusted insurance agent. We Offer Major national and regional commercial auto insurance companies Competitive pricing Packages with property and/or liability Expertise with courteous service We Insure Vehicles licensed for on-road use Business autos, including personal autos used for business Trucks Utility Trailers Semi tractors and trailers Road-licensed equipment Commercial Auto Insurance Specialties: Commercial Truck Insurance Limousine Non-Emergency Medical Transportation Taxi Liability associated with commercial autos is one of the greatest risks a business faces on a regular basis. Auto-related claims represent some of the largest settlements paid. A business doesn’t even need to own the vehicle involved. If any auto is operated for business purposes, even an employee’s car, that is sufficient for the business to be found liable for damage or injury caused during that trip. Ask your insurance agent or contact us for a no-obligation insurance review where we explain your risk exposures in clear, understandable terms. Coverage Definitions Liability Comprehensive Collision Other Liability coverage on your commercial auto insurance policy protects your business for liability resulting from injuries to people and damage to property, including other vehicles. For most businesses, Bankers Insurance recommends a Combined Single Limit (bodily injury and physical damage) of at least $1,000,000. The largest auto claim our agency has seen was for an automobile accident where the injured party required lifetime healthcare. Costs are currently $2.5 million and still climbing. Bodily Injury Liability protects the business for damage caused to other people. Property Damage Liability covers damage to physical items such as cars, buildings, or other property. Covered Vehicles Each commercial auto insurance policy lists the coverage limits (liability, comprehensive, collision, etc.) and what vehicles are covered under each. It does this by listing symbols representing vehicles covered. Review your policy to ensure you are covered for the vehicles you desire. The symbols are: 1 Any Auto: This is the broadest symbol available. For example, if your Auto Liability lists symbol 1, it means your business is protected no matter what vehicle was involved. You could have accidentally forgotten to list the vehicle on the policy and the business would still have coverage. An employee could be driving their own vehicle on a business errand, get in an accident, and the business would be protected. The employee would of course need their own coverage for their own car, but the business would be protected from liability. Depending upon your business operations and your insurance company, this symbol may or may not be available to you. 2 Owned Autos Only: Only those autos you own. This includes autos you acquire after the policy begins. This symbol is often listed under Uninsured Motorist Coverage and Underinsured Motorist Coverage. That way, those coverages apply only if the accident involves a vehicle owned by the business. 3 Owned Private Passenger Autos Only: Only those autos you own that are of the private passenger type. This includes autos you acquire after the policy begins. Depending upon your business operations, this symbol may be applicable. 4 Owned Autos Other Than Private Passenger Autos Only: Those autos you own that are not of the private passenger type. 5 Owned Autos Subject To No-fault: Autos you own that are required to have no-fault benefits in the state where they are licensed or principally garaged. 6 Owned Autos Subject To A Compulsory Uninsured Motorists Law: Autos you own that, because of the law in the state where they are licensed or principally garaged, are required to have and cannot reject Uninsured Motorists Coverage. 7 Specifically Described Autos: Only autos specifically listed on the policy, for which a premium charge is shown. This is the most common symbol and is usually listed for Comprehensive and Collision coverages. 8 Hired Autos Only: Only those autos you lease, hire, rent or borrow. It does not include any you lease, hire, rent or borrow from your employees, partners, members, or members of their households. 9 Non-owned Autos Only: Only those autos you do not own, lease, hire, rent or borrow that are used in connection with your business. This includes autos owned by employees, partners, members, or members of their households, but only while used in your business or personal affairs. Symbols 8 and 9 are often added to the Liability coverage as a set. Policies are even available that list symbol 8 and 9 only, such as for a business that does not own any vehicles itself but desires protection for salespersons or employees driving on business errands. 19 Mobile Equipment Subject To Compulsory Or Financial Responsibility Or Other Motor Vehicle Insurance Law Only: Wow. That’s a long one, but it covers land vehicles that would normally qualify as mobile equipment but need to be licensed for on-road use. For example, some states require construction equipment such as front end loaders to be licensed if they are driven on state roads. More detail on Understanding Coverage Symbols on Business Auto Insurance. Other Resources Establish a Driver Hiring Program Driver Hiring Program Guidelines : It isn’t only about keeping your insurance costs low and protecting your company’s reputation. Businesses have a civic duty to only hire safe drivers. It is imperative to establish a driver selection program to hire and retain the best employees. Driver’s File Checklist : A simple and easy-to-follow checklist to ensure you have all the necessary information for each of your drivers. Driver Application : Don’t have a written application for your drivers? Use ours. NEWSLETTER SIGNUP We don’t share your information. Unsubscribe any time. At Bankers Insurance, the client is always in control. Why Bankers Insurance? Anyone can be an order-taker. Bankers Insurance is different. We don’t expect clients to be commercial auto insurance experts. Take advantage of our experience. We can explain options and help you determine coverage that suits your needs. As your insurance agent, we strive to know you. Only then can we suggest coverage that fits your specific business. We look for coverage gaps and offer protection. With us, you get the benefit of: Individual Agent Each of our clients is assigned a specific insurance agent in our office and provided a phone number that rings on their desk. And each agent has a backup in case they are out for any reason. Though any one of our agents can help, nothing beats speaking with the person familiar with your account. Local Support Bankers Insurance is local. Our agents live in the neighborhood. No one enjoys talking to a call center or exchanging email when in urgent need of service or if a claim arises. Fast, Courteous Service We serve our clients with dignity and respect. Flexible Billing Want to pay for your commercial auto insurance directly to the company? Monthly? By credit card? We can find a billing option that suits you. LOCATIONS ABOUT US CAREERS CONTACT US Privacy Policy | Terms of Use | DBA’s Bankers Insurance, LLC, not your bank, is providing this website to assist with evaluation and purchase of insurance products. Any insurance product purchased with the assistance of Bankers Insurance or this website: (i) is not a deposit; (ii) is not insured by the Federal Deposit Insurance Corporation or any other federal government agency; (iii) is not guaranteed by your bank or Bankers Insurance; and (iv) if it has a securities component, it involves investment risk, including the potential loss of principal. Coverages are subject to the terms and conditions of each policy. Website © Copyright 2021 Bankers Insurance LLC, all rights reserved