FRIDAY, JUNE 30, 2023
Commercial auto insurance is a critical investment to safeguard your business against accident-related liability claims. With the high population density and busy streets of Philadelphia, the risk of accidents is heightened. Appropriate insurance coverage can help address property damage and bodily injury claims while minimizing financial impact on your company. 
Is Commercial Auto Insurance Required in Philadelphia?
State laws require all Pennsylvania companies that use vehicles to conduct business must maintain minimum auto liability insurance. Depending on the type of vehicles your business operates, you may also be subject to federal insurance regulations. Your agent can help you determine which policies and limits apply to your company’s situation.
How Much Commercial Auto Liability Coverage Do I Need?
Liability policies have dollar limits. Purchasing liability insurance coverage with limits equal to Pennsylvania’s minimum requirements may not fully cover the costs of an accident caused by you or one of your employees.
When accident-related claims exceed the limits of your company’s auto liability coverage, your business can be required to pay those excess costs out of pocket.
Protection Against Bodily Injury Claims
If one of your business vehicles is involved in an accident that injures other parties, you could be held liable for their medical expenses, rehabilitation costs and legal fees. Commercial auto insurance may help cover the costs of bodily injury claims.
Protection Against Property Damage Claims
Your commercial auto liability coverage can provide financial assistance to help repair or replace third-party property damaged in an at-fault accident. If you or one of your company drivers damages someone else’s vehicle, building, fence or landscaping, your liability coverage may help pay their claim.
Legal Defense and Settlements
Dealing with liability claims can be a complex and costly process. Commercial auto insurance can provide legal defense coverage if your business faces a lawsuit resulting from an auto accident. Your insurer may help cover the costs of hiring a lawyer, gathering evidence and representing your business in court. Your insurance may also cover potential settlements up to your policy’s limits.
Contact Us
Your agent can help tailor commercial auto insurance coverage to meet the unique needs of your business. Whether you have a single vehicle or a fleet, getting coverage with appropriate limits and deductibles is crucial.
Contact Dorsey & Associates in Philadelphia, Pennsylvania, to learn more about your commercial auto insurance options and get a personalized quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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