Business Auto Coverage Form

AAA

DEFINITION of 'Business Auto Coverage Form'

A form that insurers provide to business owners when creating a contract to provide insurance coverage for the company's cars, trucks, trailers, vans or other vehicles. The form is divided into five sections that define the coverage, including the types of vehicles, causes of damage and types of damage covered, in addition to both the insurer's and business's obligations in the event that damage occurs.

INVESTOPEDIA EXPLAINS 'Business Auto Coverage Form'

The business auto coverage form helps businesses review the different coverage options available to them, enabling them to select coverage that meets their company's needs while keeping costs to a minimum. Coverage may include vehicles that are owned or leased by the company or its employees.

RELATED TERMS
  1. Building And Personal Property ...

    The document that details the provisions of a type of business ...
  2. Business Automobile Policy - BAP

    An insurance policy that covers a company's use of cars, trucks, ...
  3. Premium

    1. The total cost of an option. 2. The difference between the ...
  4. Liability

    A company's legal debts or obligations that arise during the ...
  5. Lease

    A legal document outlining the terms under which one party agrees ...
  6. Deductible

    1. The amount you have to pay out-of-pocket for expenses before ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Insurance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  2. Entrepreneurship

    Don't Get Sued: 5 Tips To Protect Your Small Business

    Find out what you can do to limit risk and keep your business running smoothly.
  3. Home & Auto

    Cover Your Company With Liability Insurance

    Every business is susceptible to legal action. Find out how to protect yours.
  4. Home & Auto

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  5. Insurance

    Life Insurance: How Much Does Age Raise Your Rate?

    If you need life insurance, try to get it before your next birthday. Here's why.
  6. Options & Futures

    Give Yourself More Options With Real Estate Options

    Real estate options have many benefits, including a smaller initial capital requirement.
  7. Retirement

    Healthcare: What Are You Really Paying For?

    Long-term care costs rise fast and long-term care providers bundle services together, making it tougher for families to understand what they are paying for
  8. Retirement

    4 Myths You Don’t Know About Medicare

    Here are four common misconceptions about Medicare, the federal government’s health insurance program for people who are 65 and older or disabled.
  9. Savings

    Top 10 Fastest Growing Industries in the United States

    Six of the ten fastest growing industries are directly related to new residential construction.
  10. Options & Futures

    The Fancy Way To Diversify Your Portfolio: Precious Metal Options

    A guide with strategies on how to invest or trade in precious metals by using options.

You May Also Like

Hot Definitions
  1. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  2. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  3. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  4. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  5. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
  6. Fringe Benefits

    A collection of various benefits provided by an employer, which are exempt from taxation as long as certain conditions are ...
Trading Center