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PrintAutomobile Property Insurance
Of the various types of property insurance available to a small business owner, a policy covering the use of automobiles is one of the most common.
An automobile insurance policy is issued as a single comprehensive policy that offers both liability and property protection (see our discussion of automobile liability insurance
Property coverage in an automobile policy is subdivided between two types of coverage: collision (which covers losses due to a collision, where the insured is at fault) and comprehensive (which covers losses from fire, and other acts of nature, theft and vandalism).
Automobile insurance property coverage is issued on a named-peril basis. Thus, a failure to mention in the policy one form of coverage (e.g., comprehensive) acts as an automatic exclusion of this form of coverage.
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