What does Symbol 5 in Commercial Auto Insurance cover?

Symbol 5 in Commercial Auto Insurance specifically refers to liability coverage for owned autos that are subject to no-fault laws. This means that it provides coverage in situations where individuals are required to carry no-fault insurance, which typically covers medical expenses resulting from automobile accidents regardless of who is at fault. In jurisdictions with no-fault insurance, this coverage is important for ensuring that insured parties can be compensated for certain types of losses without needing to prove fault, thus streamlining the claims process.

Other options represent different aspects of coverage not associated with Symbol 5. For instance, comprehensive coverage pertains to protection against non-collision-related damages and isn't limited to just owned autos; this is not the focus of Symbol 5. Liability for uninsured motorists addresses situations where the insured is involved in an accident with a driver lacking insurance, but that topic falls outside the scope of Symbol 5's coverage specifics. Similarly, physical damage coverage for hired autos does not relate to owned vehicles and is handled under different symbols specific to hired vehicle circumstances. Thus, Symbol 5 distinctly pertains to no-fault liability coverage for owned vehicles.