What is commercial auto insurance?
Many businesses own or use vehicles, and they can’t ignore the inherent risks of potential accidents, damage or other loss that comes with operating any vehicle. Commercial auto insurance can help Texas businesses protect against these risks.
Commercial auto insurance provides tailor-made coverage for business-owned vehicles. Businesses can usually also get it for non-owned vehicles that they use.
What businesses in Texas need to have business auto insurance?
Most businesses that own vehicles need business auto insurance, as coverages are broadly required by Texas law. Businesses that use rented, leased or employee vehicles usually need coverage, too.
Texas’s minimum requirements are commonly referred to as a 30//60/25 policy. The name stems from the general requirements to have:
- Bodily Injury Liability coverage of $30,000 per individual
- Bodily Injury Liability coverage of $60,000 per accident
- Property Damage Liability coverage of $25,000 per accident
Many businesses choose to purchase substantially more coverage, as these requirements provide only very basic protections. A single accident could easily exceed these limits.