What are the commercial auto symbols?
Commercial Auto Symbols – Part 1
- 1 = Any “Auto”
- 2 = Owned “Autos” Only.
- 3 = Owned Private Passenger “Autos” Only.
- 4 = Owned “Autos” Other Than Private Passenger “Autos” Only.
- 5 = Owned “Autos” Subject To No-Fault.
- 6 = Owned “Autos” Subject To A Compulsory Uninsured Motorist Law.
- 7 = Specifically Described “Autos”
What is symbol 21 on a garage policy?
Provides coverage for owned private passenger autos only and includes automatic coverage for private passenger autos the insured newly acquires. It may also be used to provide medical payments insurance for non-dealers.
What is symbol 2 on a commercial auto policy?
Symbol 2 is defined as “Only those autos you own…. This includes those autos you acquire ownership of after the policy begins.” Under symbol 2 a vehicle acquired during the policy period is covered for the balance of the policy period.
What is the symbol for any auto?
Symbol 1 provides the broadest coverage available. It means that any auto, whether owned by the insured or not, is covered for the bodily injury and property damage liability. It is important to note than Symbol 1 coverage can only be applied to liability coverage.
What is symbol 7 on an auto policy?
Agents Need to Cover Their Exposures by Offering Hired Non-Owned Auto Coverage. Risk managers, insurance agents and brokers have always known that a Symbol 7 on auto liability policies is not very desirable. This symbol essentially means that only the autos scheduled on the policy are covered.
What is a commercial symbol?
U+FF20 ＠ FULLWIDTH COMMERCIAL AT (HTML ＠ ) U+FE6B ﹫ SMALL COMMERCIAL AT (HTML ﹫ ) The at sign, @, is normally read aloud as “at”; it is also commonly called the at symbol, commercial at or address sign.
What is the difference between garage and garage keepers?
SUMMARY. As you can see, the difference between garage liability coverage and garagekeepers coverage is the difference between liability insurance and physical damage insurance. One covers the insured’s liability for operations and autos and the other covers damage to customer’s vehicles.
What is symbol 29 on a garage policy?
Any vehicle that is not a private passenger auto fits within this symbol. This does not include autos owned by employees or members of their families. 29 – Non-Owned Autos Used in Garage Business. Provides liability coverage for autos not owned by the named insured but used in connection with the garage business.
Which garage insurance symbol covers any auto?
Symbol 30 covers any customer’s auto left with the named insured for service, repair, storage or safekeeping. This symbol would be used to “trigger” the garagekeepers coverage. Symbol 31 covers dealers “autos” and “autos” held for sale by non-dealers or trailer dealers.
What are the most common symbols used on a commercial auto policy?
The most common combination is symbols 7, 8, and 9 to cover your scheduled autos, hired autos, and non-owned autos. This will cover those vehicles listed on the policy, any vehicles you rent, and other non-owned vehicles (usually applied to employee vehicles while used in the course of business.
What is a hired auto?
Hired Auto Hired autos are vehicles your business leases, hires, rents, or borrows that are used in the course of doing business. Vehicles you lease, hire, rent, or borrow from any of your employees, partners, limited liability members, or household members are not considered hired autos.
What are commercial auto symbols?
A commercial auto symbol is essentially a coverage code signifying which of your autos is covered, and who is protected when operating your business vehicles.
What is auto liability symbol?
The most commonly used symbols for liability coverage are 1 and 2. Symbol 1 signifies any auto (including hired, owned, and non-owned autos) while symbol 2 means autos owned by the business. If you have purchased liability coverage, a numeric symbol should appear in the declarations next to that coverage.
What is commercial auto insurance?
Commercial Auto Insurance is a policy that covers all vehicles used by the business or organization. This includes vehicles owned, leased, hired, and borrowed.
What is a vehicle insurance symbol?
Symbol 1 – Any Auto. This is the most comprehensive symbol available to an insured on the business auto coverage form. Symbol 1 dictates that coverage is provided for any auto used for business operations; including vehicles the insured owns, doesn’t own, and hires for their day-to-day operations.
https://www.youtube.com/watch?v=DJy_it_ZTYE