Commercial Auto Insurance

Virginia companies using vehicles to conduct business are required to maintain minimum amounts of auto insurance coverage or pay an annual uninsured motor vehicle fee to comply with state laws.  

Depending on the type of vehicles used, the company may also be subject to federal insurance requirements. Minimum limits may change without notice, so consult your agent to find out how state and federal laws may apply to your business.  

Contact Huffman Insurance Agencies in Lexington, Virginia, to learn more about your commercial auto insurance options and get a quote.  

What Commercial Auto Insurance Is Required In Virginia? 
Virginia requires all motor vehicles registered in the state to have minimum amounts of liability insurance. Alternatively, your company can choose to pay the required uninsured motor vehicle fee and forgo commercial auto insurance coverage.  

Commercial auto insurance policies must include the following coverage to comply with Virginia laws:  

• Bodily injury liability insurance may help pay for third-party accident-related injuries up to the policy’s limits.
• Property injury liability insurance may help pay for third-party accident-related property damage claims up to the policy’s limits.  

Your company may be held liable for damages resulting from at-fault accidents that exceed your liability coverage limits. Virginia’s minimum liability limits may not provide appropriate financial protection for your company. 

If your company leases or finances vehicles, the lienholder typically requires full coverage insurance, which may include the following:  

• Collision insurance may help pay for damages to the covered vehicle after colliding with another object or vehicle.   
• Comprehensive insurance may help cover non-accident-related damages, including fire, vandalism, theft or weather damage 
• Guaranteed asset protection (Gap) insurance may help pay off your vehicle if it is a total loss after a covered accident or incident.   

What Optional Commercial Auto Coverages Are Available? 
Commercial auto insurance is highly customizable. Your agent may also recommend adding the following optional coverages: 

• Personal injury protection (PIP) may help pay accident-related medical bills and some associated costs for the company vehicle driver and passengers injured in a covered accident, up to the policy’s limits. 
• Uninsured/Underinsured motorist insurance may help cover damage to your company vehicle if you are in an accident with a driver that doesn’t have insurance coverage or has coverage with inadequate limits. 

If your company uses employee-owned vehicles, rents or borrows vehicles, your agent may recommend that you get the liability coverage you need by purchasing hired and non-owned auto insurance (HNOA).  

How to Get Virginia Commercial Auto Insurance 
Contact Huffman Insurance Agencies to compare commercial auto insurance quotes.