Insuring Contents Within Commercial Vehicles

Taking one of your business-owned vehicles out on the road exposes the business to accident liabilities. Therefore, commercial auto insurance should be available to help all the parties involved cover their losses when problems arise.  

However, one place where you might find that your commercial auto policy might not help you is when it comes to materials carried within your vehicle. Company belongings, equipment, shipments for customers—all of these items could sustain damage in accidents or be lost when your vehicle gets stolen. It’s only natural to want to repair or replace these items. Therefore, you might have to use other benefits along with your commercial auto policy to recoup your losses. 

Commercial Auto Insurance for Theft  
Theft of one of your business-owned vehicles means a loss of property value, time and productivity. However, your commercial auto insurance will provide restitution to replace the vehicle, or to repair it if it is recovered by the police.   

A component of your physical damage insurance known as comprehensive coverage will provide coverage for vehicle loss or damage that is not related to a wreck. Theft is therefore covered by this plan under most circumstances.  

However, comprehensive coverage is not mandatory for most commercial drivers. You will have to ask your agent to add this benefit to your policy at the time you enroll. Additionally, one type of damage that your commercial auto policy will not cover is damage to the contents within your vehicle.  

Insuring a Commercial Vehicle’s Contents  
When you transport company materials within your vehicle, they represent value on the move. These items might include cash and receipts, electronics, equipment used at job sites, client belongings and more. Therefore, were these items to get stolen along with the car, then their value would be lost, too.  

At this time, business insurance options that are separate from commercial auto insurance can cover the loss of this property.  

Usually, you will find this coverage within a component of property insurance called inland marine insurance. This coverage is designed specifically to cover business belongings that are taken off the primary insured location and transported within a vehicle or other mode of transportation.   

Therefore, were these items to be stolen along with the vehicle, your inland marine coverage will provide the requisite coverage to help you replace these items. There are numerous types of inland marine coverage, but your policy can be expanded to cover business-owned materials, customer possessions left in your care, and cargo within a shipment. 

Your commercial insurance agent can help you determine the type and amount of commercial auto and inland marine insurance for your needs. Let them guide you through the selection and enrollment process.