Commercial Auto Insurance in Colorado

Commercial auto insurance is a type of coverage that protects your business vehicles and drivers from financial losses due to accidents, theft, vandalism, or lawsuits.



In Colorado, commercial auto insurance is required by law for any vehicle that is used for business purposes, such as transporting goods, passengers, or equipment or performing services for a fee.

Commercial auto insurance typically covers bodily injury and property damage liability, medical payments, uninsured/underinsured motorist, collision, comprehensive, towing, and labor costs. However, the exact coverage and limits may vary depending on your policy and your business needs.

We understand that each business is unique, so we offer customized commercial auto insurance policies to fit your company’s needs. Our experienced agents will work with you to create a policy that provides the right coverage at an affordable price.

We also provide comprehensive risk management services to help you protect your business from potential losses. This includes advice and guidance on properly managing your fleet, reducing risks, and implementing safety measures.



If you are in need of commercial auto insurance for your business in Colorado, contact us today for a free quote. We look forward to helping you find the best coverage for your business.

Commercial auto insurance is different from personal auto insurance in many ways, including cost and coverage options. Commercial policies typically cost more than personal policies, and they often offer higher limits of liability coverage. Additionally, commercial policies may include endorsements such as non-owned auto liability, hired/non-owned auto liability, cargo coverage, trailer interchange coverage, and more.



It is important to note that personal auto insurance policies do not typically provide coverage for vehicles used for business purposes. If you are unsure whether or not your policy covers business use, we recommend speaking with one of our experienced agents today to find out.

If you own a vehicle in Colorado, you must have liability insurance to pay for any injuries or damages you cause in an accident. The law sets the minimum liability insurance limits as follows:

• At least $25,000 for each person who is hurt or killed in an accident
• At least $50,000 for all people who are hurt or killed in an accident
• At least $15,000 for property damage in an accident

These are the lowest limits allowed by law, but you may want to get higher limits based on your vehicle type and usage.

Some vehicles, such as tractor-trailers, semi-trucks, and others, need more liability insurance than the minimum. The amount of extra liability insurance depends on the vehicle type and usage.

For example, a tractor-trailer may need $1,000,000 in liability coverage.

If you are unsure which limits are right for your business vehicles and usage, our experienced agents can help. We will review your vehicle type and usage to determine the best coverage for you.

Commercial auto insurance policies can provide coverage for a variety of different risks, including:

Depending on your business needs, you may need additional forms of coverage.

Bodily Injury and Property Damage Liability

Bodily Injury and Property Damage Liability Coverage is a type of insurance that may help protect you. It provides the required protection if you become legally obligated to pay damages in an accident caused by your negligent driving. With this coverage, you won't have to pay out of pocket and can handle court costs, legal fees, and medical care costs up to the insured amount, even if the accident wasn't your fault.

Uninsured/Underinsured Motorist Coverage 

Uninsured/Underinsured Motorist Coverage helps protect you if you are in an accident with a driver who doesn't have liability insurance or doesn't have enough coverage to pay for any damages they cause. This coverage can help pay for medical bills, lost wages, and other related costs in the event of an accident with an uninsured or underinsured driver.

Medical Payments Coverage 

With medical payment coverage, policyholders can have peace of mind should anything unexpected occur. It provides a feeling of security that businesses can count on, especially when emergencies happen on the road. Medical payments coverage works to cover necessary medical treatments and examinations required after the incident. Its affordability and reliability supersede what any business could want in a car insurance policy, providing long-term protection while one is away from home.

Collision Coverage 

Collision coverage helps pay for the cost of repairs to a vehicle after an accident. This type of coverage pays regardless of who is at fault in an accident. It may also cover damages caused by hitting another car or object, such as a tree or mailbox. Collision insurance helps businesses stay on the road faster and safer with quick and easy repairs.

Comprehensive Coverage 

Comprehensive coverage helps pay for the cost of repairs to a vehicle after it is damaged due to something other than an accident, such as theft, fire, and hail. This type of coverage pays regardless of who was at fault in the incident. Comprehensive coverage also includes protection against vandalism and glass breakage.

Towing and Labor Coverage

If a vehicle is damaged in an accident or otherwise disabled, towing and labor costs can be covered under a commercial auto insurance policy. This coverage pays for the cost of towing to the nearest repair shop and any basic labor required for repairs. Depending on the insurer, roadside assistance may also be included.

Rental Reimbursement 

Rental reimbursement coverage helps pay for the cost of a rental car while an insured vehicle is being repaired after an accident. This coverage typically pays a set amount per day up to a certain number of days. The policyholder will be responsible for any additional costs incurred when renting the car.

Customized Endorsements 

Customized endorsements are additional coverage that can be added to an existing commercial auto insurance policy. These endorsements provide more protection for certain risks that aren’t covered by a standard policy, such as utility trailers, exotic vehicles, and specialty vehicles. Businesses can customize their policy with customized endorsements to meet their unique needs.

Additional Optional Coverage

Additional optional coverage, such as gap insurance and roadside assistance coverage, can be added to a commercial auto policy. Gap insurance pays the difference between what is owed on a leased or financed vehicle and its actual value if it is totaled in an accident. Roadside assistance provides help when there are mechanical issues with the vehicle, such as flat tires, dead batteries, and locks that need to be broken.

By having the right kind of commercial auto insurance in place, business owners can protect their employee drivers and their vehicles with peace of mind. Whether you're looking for basic protection or specialized coverage, a variety of options are available to meet your needs. With the right level of protection, businesses can be prepared for anything that comes their way.

While many small business owners may use their business vehicles for personal use, it is important to be aware of how this may affect your commercial auto insurance policy. In Colorado, most personal auto insurance policies do not cover accidents that occur while the vehicle is being used for business purposes. To ensure proper coverage for all drivers and passengers in a business vehicle, speak with an agent about adding the appropriate layered coverage for business use.

The cost of commercial auto insurance in Colorado can vary depending on the type and amount of coverage selected. The size of your business, number of vehicles, and driving record are all factors that can influence the cost. Other factors, such as each vehicle's age and make/model, can also affect the cost. Business owners should compare quotes from multiple carriers to find the best value for their coverage needs.

1. Review your policy regularly and make sure it’s up-to-date with the most current coverage requirements.
2. Consider adding additional coverage, such as uninsured motorist protection, to protect your business vehicles in the event of an accident.
3. Consider discounts for additional safety measures, such as driver training courses or a fleet monitoring system.
4. Shop around for the best rates and compare quotes from multiple carriers.
5. Talk to an agent about ways you can save money on your commercial auto insurance policy.
   

Here at 3R Insurance Agency, we understand the unique needs of businesses in Colorado and can help you find the commercial auto insurance coverage that’s right for you.

We specialize in providing excellent customer service and competitive rates on all types of business insurance policies. Contact us today to compare Colorado commercial auto insurance quotes and learn more about your coverage options.



We look forward to helping you protect your business with the right policy and tailored coverage for all of your commercial vehicles.