Monoline Auto

While a Business Owners Policy (BOP) or package casts a wide net of coverage, a separate policy is often needed for Automobile. Preferred Advantage, formerly Mercator Risk Services, can provide you with monoline automobile insurance for small to midsize businesses in all states, except for Massachusetts and Hawaii. This program provides a high liability commercial auto policy on a stand-alone basis, even when the supporting lines of coverage do not qualify. Multistate exposures can be covered on a standalone basis.

Enhanced Commercial Auto Coverages

Preferred Advantage provides monoline automobile liability, however we also offer enhanced commercial auto coverages. They include:

Lease Gap Coverage - as long as the physical damage option is chosen, Preferred will cover the outstanding balance of a lease, if the car is totaled in an accident and the remaining lease exceeds the car’s actual cash value.

Additional Temporary Transportation Expense – coverage for transportation expenses if the private passenger car is stolen. For example, the cost of renting a vehicle or using public transportation.

Broadened Coverage for Extra Expense – extra expenses would be paid if an insured’s automobile has been stolen and recovered. The expenses would only be paid if comprehensive coverage is elected.

Glass Repair - the deductible will be waived if the damaged glass is repaired insthsead of replaced.

Hired Auto and Non-Owned Auto - bodily injury or property damage that occurs during the use, loading or unloading of hired or non-owned vehicles used for the business.

Liability Coverage for Business Use of the Employees’ Cars - if an employee utilizes their own car for business purposes, chances are that they may be involved in an accident. The business would be protected if someone sued for the resulting damage or injury.

Medical Payments for You or Your Passengers – employees and passengers in the vehicle would be covered for medical expenses if an accident occurs or are struck by another vehicle.

Physical Damage (Collision) - if the commercial auto policy includes coverage for collisions, you will be covered if the vehicle is damaged in an accident involving another vehicle or a stationary object such as a building, telephone pole or guardrail.

Liability Coverage for Accidents Involving Company-Owned Cars - the coverage protects the business when someone else declares that you are legally liable for either bodily injury or property damage. The coverage also extends to employees who may be sued by other employees because of the accident.

Physical Damage (Comprehensive) – helps to pay for physical damage to the insured autos caused by a variety of risks, including fire, lightning, theft, vandalism, hail and flood. Would only apply if the comprehensive coverage is elected.

Sound Receiving and Reproducing Equipment - coverage for permanently installed electronic equipment designed solely for the reproduction or transmission of audio, visual, or data signals.

Uninsured / Underinsured Motorist - coverage for bodily injury and, in some states, property damage incurred by an insured when an accident is caused by a motorist who is not sufficiently insured.