Business Automobile Policy - BAP


DEFINITION of 'Business Automobile Policy - BAP'

An insurance policy that covers a company's use of cars, trucks, vans and other vehicles in the course of carrying out its business. Coverage may include vehicles owned or leased by the company, hired by the company, or employee-owned vehicles used for business purposes.

BREAKING DOWN 'Business Automobile Policy - BAP'

It is recommended that a company obtain a business automobile policy even if it does not own vehicles if its employees use personal vehicles for business purposes. In the event of a serious accident the employee may not have enough personal liability coverage to adequately protect the business.

  1. Business Auto Coverage Form

    A form that insurers provide to business owners when creating ...
  2. Premium

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

    A company's legal debts or obligations that arise during the ...
  4. Insurance

    A contract (policy) in which an individual or entity receives ...
  5. Deductible

    1. The amount you have to pay out-of-pocket for expenses before ...
  6. Certificate Of Insurance

    A document issued by an insurance company/broker that is used ...
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