Commercial Auto Coverage Symbols

If you’ve purchased Commercial Auto insurance for your business, you’ve probably seen numbered symbols on your declarations page.  What are they? What do these symbols mean?

The coverages that make up your commercial auto policy can be applied in different ways.  The coverage symbols specify how your coverage works.  Here’s a brief overview of the most common symbols and what they mean:

Symbol 1: Any Auto – The broadest coverage. Symbol 1 means that the coverage applies to any vehicle whether you own, rent, borrow, or hire the vehicle or even when the vehicles belongs to a third party.

Symbol 2: Any Owned Auto – Coverage applies automatically to any coverage owned by your company.  Although your insurance company still asks that you keep them up to date on policy changes, it is not required.  Symbol 2 is commonly used for companies with large fleets that are frequently buying and selling vehicles.  The insurance company may just ask for an update at renewal and adjust your premium at that time.

Symbol 7: Specified Autos Only – Symbol 7 coverage limits coverage to just the vehicles that specifically show that coverage on the declarations page. Symbol 7 is commonly used for physical damage coverages where you may want to specify which vehicles have Comprehensive and Collision Coverage and which do not.  Insurance companies also use Symbol 7 to limit liability coverage to only the listed vehicles to avoid picking up unintended vehicle exposures.

Symbol 8: Hired Auto – Coverage applies to vehicles rented, hired or borrowed by your company.

Symbol 9: Non-Owned Auto – Coverage applies to vehicles not owned by the company that are used in company operations.  This is commonly used to protect companies that have employees use their personal vehicles for company business.  

Even if your company doesn’t own any vehicles, you should consider purchasing Hired & Non-Owned Auto coverage.  For example, you may be a pizza restaurant that employs drivers who make deliveries in their own cars.  Non-Owned Auto coverage protects you if they cause an accident.  It may also protect employees that are running basic errands on time.

For liability coverage, Symbol 1 is almost always preferred. If an insurance company is unable to offer Symbol 1 Liability coverage, they will often offer Symbol 7,8, and 9 together as a package.  This provides broad coverage but, unlike Symbol1, does not automatically extend coverage to vehicles you may have acquired but not added to your policy.

Understanding coverage symbols is critical when purchasing Business Auto insurance. If you’re unsure of what Commercial Auto Coverage Symbols are appropriate for your business, reach out and we’ll be happy to discuss your specific situation and help you create a coverage program that works for you.