Commercial Auto Insurance
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Business Auto Declarations
- Item One—Named Insured, Form of Business
- Item Two—Schedule of Coverages and Covered Autos
- Item Three—Schedule of Owned Autos
- Item Four—Schedule of Hired or Borrowed Auto Coverage and Premiums
- Item Five—Schedule for Nonownership Liability
- Item Six—Schedule for Gross Receipts or Mileage Rating
BAP Declaration Item One-Named Insured, Form of Business
Names the insurance company, the named insured, and whether the named insured is a corporation, partnership, limited liability company, individual, or some other type of organization.
Auto Coverage Symbols
numerals used to denote to what category of autos a commercial auto policy's various coverages will apply.
Any Auto-the broadest symbol that applies to any auto whether owned, nonowned, hired, or otherwise as a "covered" auto. (liability coverage)
Owned Autos Only-covers all autos owned at the beginning of the policy period plus any owned autos acquired during the policy period. (medical payments, UM, UIM, & physical damage collision coverages)
Symbols 3 & 4
- Owned Private Passenger Autos and Owned Autos Other than Private Passenger Autos-
- Symbols 3 and 4 are similar to symbol 2 in that they apply only to autos owned by the named insured. Symbol 3 applies to owned private passenger autos, while symbol 4 applies to all other types of owned autos. (auto medical payments, physical damage comprehensive, and towing and labor coverages for symbol 3/ physical damage specified causes of loss for symbol 4)
Symbols 5 & 6
- Owned Autos Subject to No-Fault and Owned Autos Subject to a Compulsory Uninsured Motorists Law
- Because symbols 5 and 6 are used to denote mandatory coverages that cannot be waived (symbol 5 for no-fault and symbol 6 for UM), they can only be used in a few states.
Specifically Described Autos- provides coverage for specifically described autos in a schedule.
Hired Autos Only-an auto that the insured leases, hires, rents, or borrows but not one from an employee of the insured, a partner, a member of a LLC, or members of their households. (liability and physical damage coverage)
Nonowned Autos Only-Nonowned automobiles are autos used in connection with the insured’s business that are not owned, leased, hired, rented, or borrowed by the insured. This symbol includes autos owned by the insured’s employees, partners, members of limited liability companies, or members of their households while such autos are used in the insured’s business or personal affairs. (liability only)
- Mobile Equipment Subject to Compulsory or Financial Responsibility or Other Motor Vehicle Insurance Law Only
- Symbol 19 can be used to provide liability coverage for land vehicles that would ordinarily be classified as mobile equipment except for the fact that they are subject to a motor vehicle law (e.g., compulsory liability, financial responsibility, no-fault, UM/UIM) in the state where they are licensed or principally garaged. This symbol applies only for liability.
BAP Declaration Item Two-Schedule of Coverages and Covered Autos
Uses schedules and symbols to describe coverages and covered autos.
BAP Declaration Item Three-
Schedule of Owned Autos
BAP Declaration Item Four-
Schedule of Hired or Borrowed Auto Coverages and Premiums
BAP Declaration Item Five-Schedule for Nonownership Liabilty
When symbol 1 (all autos) or symbol 9 (nonowned autos only) is shown in Item Two for liability coverage, then Item Five should indicate how many employees the insured has for rating purposes.
BAP Declarations Item Six-
Schedule for Gross Receipts or Mileage Rating
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