If you have a commercial auto policy, you have probably seen a number next to each of your coverages, but what do those numbers actually mean?
Symbol 1 – Any Auto
- This will cover any auto you own, rent, or do not own (though temporarily, and only when used in the course of business). Symbol 1 can only be used for auto liability coverage.
Symbol 2 – Owned Autos Only
- This includes any vehicles you own/acquire after the policy period begins (it is always better to schedule your vehicles, but in case you forget, this is going to be there to cover you).
Symbol 3 – Owned Private Passenger-Type Autos Only
- This includes any owned private-passenger vehicles (cars, trucks, vans, etc.).
Symbol 4 – Owned Autos Other than Private-Passenger Type
- This includes commercial vehicles (truck/tractors, dump trucks, tow trucks, etc.).
Symbol 5 – Owned Autos Subject to No-Fault Coverage
- These are only vehicles required to have no-fault coverage in the state where they are licensed.
Symbol 6 – Owned Autos Subject to a Compulsory Uninsured Motorist Coverage Law
- This covers owned autos required to have uninsured motorist coverage in the state where they are licensed.
Symbol 7 – Specifically Described Autos
- These are the vehicles listed/scheduled on your policy, whether private-passenger or commercial.
Symbol 8 – Hired Autos Only
- This will cover temporarily hired/rented vehicles.
Symbol 9 – Non-Owned Autos Only
- This will cover non-owned autos being used for the business temporarily.
You might have a combination of these symbols listed on your policy to cover multiple types of vehicles. 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.
There are certain companies that will not offer all options, so you can work around that by adding different symbols in combination to equal or almost equal the one they will not allow. Most commonly, companies are hesitant to offer symbol 1 coverage as it is very broad. A way to get around this is to either add symbols 7, 8, and 9 or symbols 2, 8, and 9. The latter combination exactly matches symbol 1, where the former is slightly more limited to those scheduled on your policy rather than any owned autos. However, most contracts can be satisfied by using one of these combinations in place of symbol 1 if the company will not allow it.
If you have further questions about auto coverage symbols, please feel free to reach out!