1. Commercial Auto Insurance:
* Commercial Auto Liability: This is the most essential coverage. It protects you financially if you cause an accident while driving someone else's car, covering bodily injury and property damage to others.
* Commercial Auto Physical Damage: Covers damage to the car you are driving, including collision and comprehensive coverage. This protects you against accidents and incidents like theft, fire, and vandalism.
* Commercial Auto Uninsured/Underinsured Motorist Coverage: Provides protection if you are hit by a driver without adequate insurance.
* Commercial Auto Medical Payments: Covers medical expenses for you and your passengers in the event of an accident.
2. Garage Keepers Insurance:
* This specifically covers the cars you are transporting and protects you against liability for damage or theft while in your custody.
* It can be bundled with your commercial auto insurance policy or purchased separately.
3. Other Potential Coverages:
* Hired and Non-owned Auto Liability: If you're an employee of a company and using your own vehicle to pick up and deliver other cars, your employer may require this coverage. It extends coverage to your personal vehicle for commercial use.
* Cargo Insurance: If you're transporting valuable cars, cargo insurance can protect you against loss or damage during transit.
Important Considerations:
* Your State's Requirements: Check your state's regulations for specific insurance requirements for commercial vehicle operations.
* The Value of the Vehicles: You'll need adequate coverage to protect yourself financially against damage or theft of the vehicles you're transporting.
* Your Business Structure: If you're operating as a business, you'll need to ensure your insurance policy reflects your specific business needs.
It's crucial to consult with an insurance broker to determine the specific insurance coverage you need based on your situation. They can tailor a policy that meets your individual requirements and provides adequate protection for your business.
