Commercial Auto Insurance for Cannabis Businesses
What is Commercial Auto Insurance?
Commercial auto insurance, also known as business auto insurance is a type of insurance for commercial vehicles on the road. If you are using a vehicle for work, regardless of your operation, you need to have a commercial insurance policy in place, not a personal auto policy. They are very different. A commercial auto policy typically has $1,000,000 combined single limit of liability insurance coverage and optional full coverage, comprehensive and collision for each vehicle.
A Hired and Non-Owned auto policy is another form of commercial auto insurance that has a $1,000,000 limit and provides coverage for employees using their personal vehicle for miscellaneous errands that are work related. It’s not suited for companies that are delivering or distributing cannabis. Any company that has a specific route or has drivers driving regularly as part of their routine duties would need to rely on the commercial auto policy.
Commercial auto insurance covers both comprehensive and collision, covering damages to your work vehicles, regardless of fault. The commercial auto policy also covers injuries and damages for third parties as well as if you are in an accident with an uninsured motorist.
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To learn more about commercial auto and hired and non-owned auto, reach out to us today.