How to Know if You Need Commercial Auto Insurance
When’s the last time you drove your vehicle for business-related purposes? If you’re doing so without commercial auto insurance, you’re putting yourself – and your business – at risk.
Commercial Auto Insurance
Commercial auto insurance aka business auto insurance – provides coverage for the vehicles used as part of your business.
Commercial auto insurance can provide coverage for all of these risks:
- Comprehensive and Collision
- Emergency Roadside Assistance
- Medical Payments
- Loss of Earnings
- Uninsured Motor Vehicle
Given how important the protection is to your business, business auto insurance is also remarkably inexpensive.
But what if I have regular auto insurance? Aren’t I covered?
Business auto insurance is different from personal vehicle insurance. When an employee uses a vehicle for business purposes, their personal auto policy coverage no longer applies in the event of an accident, property damage, or fatality caused by one of your employees.
This is a serious distinction, and failing to have the proper insurance could cost you your entire business in a single moment. We’ve seen it happen.
Case in point
A business owner opened her own shop and found it beneficial to complete personal deliveries for local customers. She purchased magnetic signs to stick on her personal car to market her business.
One day, while making her regular Tuesday deliveries, she backed into a young man on a bicycle. While he was not seriously injured, he was hospitalized overnight for monitoring.
The next day, the claims adjuster called to inform her that since she was doing business at the time of the accident, her current insurance carrier would not cover the claim.
Stuck with a huge hospital bill and letter of lawsuit from the biker’s attorney, she was forced to shut down her business and forfeit her dream.
Can you afford to expose your income, your personal property, and your employees to this high level of risk?
If the answer is no, then we can help. Visit our website to learn more and request a quote. Keep in mind each company offers different coverages it’s a good idea to speak with your agent regarding your specific policy.