Business Auto Insurance

2. Business Auto Insurance

3. Basic Concept • The Business Auto Policy Addresses: 1. Liability – Bodily Injury and Property Damage that you cause to other people while using your auto 2. Physical Damage – Repairs to your auto resulting from an auto accident

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5. Auto Coverage “Symbols” • 1. Any auto • 2. Owned Autos • 3. Owned Private Passenger • 4. Owned-Other Than Private Passenger • 5. Owned –Subject to No-Fault • 6. Owned-Subj.to Uninsured Motorist. Law • 7. Specifically Described Autos • 8. Hired Autos Only • 9. Nonowned Autos Only

6. Auto Coverages • 1. Liability • 2. Personal Injury Protection • 3. Added “PIP” Protection • 4. Property Protection (Michigan Only) • 5. Auto Medical Payments • 6. Uninsured Motorists Protection • 7. Underinsured Motorist Protection • 8. Comprehensive Physical Damage • 9. Specified Causes of Loss • 10. Collision Physical Damage • 11. Towing & Labor

7. Coverage Extensions • Trailer… “owned” includes any trailer you don’t own but is pulled with an owned auto “Specifically Described” includes small trailers even if not listed • Mobile Equipment While being transported only • Substitute Autos Temporary autos covered for liability only

8. Auto Liability Agreement… • The Insurance Company Will Pay… 1. Damages (If you’re legally liable) 2. Covered Pollution Expenses (Very Limited) 3. Defense Costs

9. Who Is An Insured ? • 1. Named Insured • 2. Permitted Users • 3. Anyone Vicariously Liable For Others

10. Who Is Not Insured ? • Anyone from whom an auto is hired or borrowed, except the owner of a trailer pulled by an insured vehicle. • Employees while using their own cars in the insureds business (Can be added) • Anyone in an “auto related” business (service stations, repair shops, dealers) • “Voluntary” Loaders & Unloaders

11. Other Coverage Extensions • Supplementary Payments 1. Insurance company’s expenses 2. Bail Bonds ($2,000 limit) 3. Release From Attachment Bonds 4. Incidental Reimbursement -$250/day 5. “Taxed” Costs 6. Judgment Interest • Out of State “Automatic Limits Increase”

12. Intended Injury Work Comp Fellow Employee Care, Custody, Control Handling Property Movement of Property/Mechanical Device Pollution Operations w/ Attached Equipment Completed Operations Contractual Liability War Racing Auto Exclusions

13. Physical Damage Insurance • Damage to Your Auto 1. Collision 2. Comprehensive 3. Specified Causes of Loss 4. Towing & Labor 5. Transportation Expenses 6. Loss Of Use Expenses (Rental Reimbursement Coverage) 7. Loss Of Use by Rental Company

14. Physical Damage Exclusions • Catastrophic Perils • “Maintenance” Losses • Electronic Equipment • Racing • Diminution in Value

15. Limit of Insurance • “ACV” a. Actual cash value at time of loss b. The cost of repairing or replacing • Stated Amount Valuation a. The actual cash value b. The cost of repairing or replacing c. The amount stated in the schedule

16. When There Is “Other Insurance” • Power Units Primary if we own it; excess if we don’t • Trailers Primary if pulled by us; excess if not • Hired Auto Physical Damage-Primary • Contractual Liability-Primary • Two Policies Covering On Same Basis In proportion per limits of each policy

17. Additional Coverages & Endorsements • Uninsured/Underinsured Motorist • Personal Injury Protection • Auto Medical Payments • Individual Named Insured Endorsement • Drive Other Car Coverage