Commercial Auto Insurance Info

Commercial auto insurance policies specify the extent of coverage by using symbols to indicate what vehicles are included in the coverage. The declarations page of your business automobile insurance policy outlines coverage areas (liability, uninsured motorist, medical payments, etc.) with coverage symbols that apply to the type of insurance. The applicable symbols are numbers 1 through 9.

Symbol “1″ is the broadest – “any auto”. Symbol “9″ provides coverage for non-owned vehicles only. Using symbol “7″ reduces the coverage to claims from vehicles listed on the policy only. Insurers sometimes use combination of symbols – 8 and 9, for example, to provide coverage for hired and non-owned autos.

Symbol 1 in the liability section would provide coverage for any auto liability claim brought against an insured. Symbol 7 in the liability section would limit liability coverage to claims that come from a vehicle listed on the policy – significantly restricting the coverage.

Here are all the symbols and their meanings:

1 = Any “Auto”.

This is the broadest symbol designation and covers any “auto” including borrowed, hired, owned, leased.

2 = Owned “Autos” Only.

This symbol covers any “auto” owned by an insured. Coverage also applies to any “trailer” while it is towed by an owned vehicle.

3 = Owned Private Passenger “Autos” Only. This symbol covers only private passenger type “autos” owned by the insured, including any private passenger type that may be acquired after the policy begins.

4 = Owned “Autos” Other Than Private Passenger “Autos” Only.

This symbol covers all “autos” other than private passenger type “autos” (vans, trucks, motorized equipment) owned by an insured, including such vehicles that may be acquired after the policy begins. The symbol also applies to any “trailer” while it is towed by an owned vehicle.

5 = Owned “Autos” Subject To No-Fault.

Any “auto” owned by an insured that is garaged or licensed in a state where no-fault benefit laws exists. This symbol also applies to any “auto” acquired after the policy begins.

6 = Owned “Autos” Subject To A Compulsory Uninsured Motorist Law.

Any “auto” owned by an insured that is garaged or licensed in a state where drivers are required to carry uninsured motorist coverage. This symbol also applies to any “auto” acquired after the policy begins.

7 = Specifically Described “Autos”.

Only those “autos” that are specifically listed on the policy are covered. The symbol also applies to any “trailer” while it is towed by a listed vehicle.

8 = Hired “Autos” Only.

This symbol covers only those “autos” that an insured leases, hires, rents, or borrows. However, it does not include “autos” leased, hired, rented, or borrowed from an employee, partner, or member of an insured’s household.

9 = Nonowned “Autos” Only.

This symbol covers only those “autos” an insured does not own, lease, hire, rent, or borrow that are used in the insured’s business, including “autos” owned by employees, partners, or members of an insured’s household, but only while those non-owned “autos” are used in the insured’s business.