Each commercial auto insurance policy lists the coverage limits (liability, comprehensive, collision, etc.) and what vehicles are covered under each. It does this by listing symbols representing vehicles covered. Review your policy to ensure you are covered for the vehicles you desire. The symbols are:
1 Any Auto: This is the most broad symbol available. For example, if your Auto Liability lists symbol 1, it means your business is protected no matter what vehicle was involved. You could have accidentally forgotten to list the vehicle on the policy, and the business would still have coverage. An employee could be driving their own vehicle on a business errand, get in an accident, and the business would be protected. The employee would of course need their own coverage for their own car, but the business would be protected from liability. Depending upon your business operations and your insurance company, this symbol may or may not be available to you.
2 Owned Autos Only: Only those autos you own. This includes autos you acquire after the policy begins. This symbol is often listed under Uninsured Motorist Coverage and Underinsured Motorist Coverage. That way, those coverages apply only if the accident involves a vehicle owned by the business.
3 Owned Private Passenger Autos Only: Only those autos you own. This includes autos you acquire after the policy begins. Depending upon what your business does, this symbol may be applicable.
4 Owned Autos Other Than Private Passenger Autos Only: Those autos you own that are not of the private passenger type.
5 Owned Autos Subject To No-fault: Autos you own that are required to have no-fault benefits in the state where they are licensed or principally garaged.
6 Owned Autos Subject To A Compulsory Uninsured Motorists Law: Autos you own that because of the law in the state where they are licensed or principally garaged are required to have and cannot reject Uninsured Motorists Coverage.
7 Specifically Described Autos: Only autos specifically listed on the policy, for which a premium charge is shown. This is the most common symbol and is usually listed for Comprehensive and Collision coverages.
8 Hired Autos Only: Only those autos you lease, hire, rent or borrow. It does not include any you lease, hire, rent or borrow from your employees, partners, members, or members of their households.
9 Non-owned Autos Only: Only those autos you do not own, lease, hire, rent or borrow that are used in connection with your business. This includes autos owned by employees, partners, members, or members of their households, but only while used in your business or personal affairs. Symbols 8 and 9 are often added to the Liability coverage as a set. Policies are even available that list symbol 8 and 9 only, such as for a business that does not own any vehicles itself but desires protection for salespersons or employees driving on business errands.
19 Mobile Equipment Subject To Compulsory Or Financial Responsibility Or Other Motor Vehicle Insurance Law Only: Wow. That’s a long one, but it covers land vehicles that would normally qualify as mobile equipment but need to be licensed for on-road use. For example, some states require construction equipment such as front end loaders to be licensed if they are driven on state roads.