If you have a business that involves one or more vehicles, whether on a part-time or full-time basis, you should consider purchasing a Commercial Auto insurance policy.
Not only will it cover your vehicles, but it will also protect your business from any lawsuits resulting from accidents caused by any of your employees. Coverages provided by a Commercial Auto policy are very similar to those of a Personal Auto policy: liability coverage to pay for injuries or property damage that you or one of your drivers causes when operating a business vehicle, collision coverage for the vehicles, and comprehensive coverage to protect against vandalism, theft, and weather claims.
Many question whether Commercial Auto insurance is necessary if a Personal Auto policy has already been purchased. And the simple answer is that a Personal Auto policy will most likely exclude any claims resulting from the business use of those vehicles.
Other common misperceptions concerning Commercial Auto insurance include the following:
- “I already have general liability insurance for my business so I don’t need to purchase a Commercial Auto policy”: In most cases, a general liability insurance policy will explicitly exclude coverage for any accidents which occur when driving for business. A general liability policy isn’t structured to cover the risks associated with driving vehicles used for a business. As a result, both types of insurance are often required to fully protect your business.
- “If I buy a Commercial Auto policy, then everything that I’m transporting in my vehicles is covered”: A Commercial Auto policy is only intended to protect the vehicles used for business as well as the liability for any of your drivers. In most instances, the content in your vehicles isn’t covered. You would need to purchase a Commercial Property insurance policy in order to cover business property in transit.
- “A Commercial Auto policy will cover any medical expenses for my drivers if they get into an accident”: The Liability coverage that’s included in all Commercial Auto policies covers the injuries and damages that your driver may cause in an accident. It doesn’t, however, cover your drivers specifically. A Workers Compensation policy would be required to cover any injuries sustained by your drivers when operating a business vehicle.
The best way to determine what type of Commercial Auto insurance you should purchase is to ask a licensed agent in our office. We can assist you with assessing your insurance needs and provide you with some quotes from several of the top insurance companies.
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