Business Fleet Auto

There are several types of coverage available in the market today so customization is generally recommended especially for business owners. At Calvo's Insurance, the best motor vehicle insurance program is available, offering comprehensive coverage, efficient claims as well as attractive fleet discounts for businesses with several company vehicles.

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Auto Coverage

We offer a variety of coverage options with liability limits up to $1 million in coverage. Some covers include Comprehensive, Collision including Liability Coverage. Liability Coverage could also be written on a stand alone basis.

Comprehensive and Collision insurance provides coverage for vehicles up to its Actual Cash Value or Depreciated Value at the time of a loss.

Comprehensive and Collision coverages are usually required by loan institutions.

Collision Insurance will pay for damage to vehicles caused by a collision with another car or object.

Comprehensive Insurance will pay for damages not already covered by Collision Insurance such as fire, theft, vandalism, explosion, falling objects (coconuts, tree branches, etc...) and earthquake. Damage due to Typhoon or Flood is NOT COVERED by Comprehensive Insurance.

Comprehensive and Collision Insurance include Deductibles. This amount is usually subtracted from the total amount paid on your claim. The standard deductibles are 100/200 ($100 for Comprehensive and $200 for Collision); however, many business owners request for higher deductibles in an effort to reduce their annual premium. Please ensure that the deductibles chosen are affordable in the event of an accident.

Automobile Liability Insurance pays for losses of other people, which you cause unintentionally or through your negligence, It includes Bodily Injury Liability Coverage, which pays the medical costs of others and your legal defense costs if required, and includes Property Damage Liability Coverage, which pays claims against you if you damage someone else's car or property.

Basic liability Limit is $25,000 per person subject to a maximum of $50,000 per accident, and the Property Damage Liability Limit is $20,000 per accident.

Liability Insurance is required for all registered vehicles under Guam's Mandatory Automobile Liability Insurance Law (P.L. 20-216).

 

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Optional Coverages

• Typhoon Coverage pays for damage arising from a typhoon or flood. Typhoon coverage normally carries a minimum deductible of $500. For more affordable typhoon premiums. Calvo's Insurance now carries NEW Deductible options for typhoon as follows:

  • $1000.00 deductibles

  • $2500.00 deductibles

  • $5000.00 deductibles

• Medical Payments Coverage pays for the medical and/or funeral expenses for you and your passenger regardless of who is at fault. This coverage applies to any injury or disease caused by an accident while you or someone else is using your car with your permission. Coverage limits range from $2,000 to $5,000 per person per accident.

• Uninsured Motorist Insurance Despite the mandatory Automobile Liability Insurance Law, many drivers on Guam are not insured. If you are the victim of an accident with a negligent uninsured or hit- an run driver, this coverage will pay the cost of your injuries up to $25,000 per person subject to a maximum of $50,000 per accident.

• Personal Accident Insurance pays up to $2,000 per person subject to a maximum of $8,000 per vehicle to you and your passengers in the event of any death or dismemberment arising from an accident.

• Loss of Use-Broad Form Coverage provides reimbursement for transportation expenses while your car is being repaired after an accident. After the third day following an accident, this coverage pays up to $38 a day subject to a maximum of $1,140 for car rental, bus or taxi expenses. Your coverage ends when your car is returned or we have paid for the total claim on your car.

The information and descriptions contained herein are provided solely for general information purposes and are not intended to be complete descriptions of all terms exclusions and conditions applicable to the products and services.