Commercial auto insurance is a must for those who drive for business. It’s not just for taxi drivers and pizza-delivery services.
Your personal auto insurance likely isn’t enough to cover you in the event you get into an accident while driving on the job, and that’s where a commercial auto insurance policy can provide an important safety net.
The Difference Lies in How it’s Used
Do you really need commercial auto insurance for your company? If you or your employees use a vehicle to complete tasks related to your business — commuting not included — then the answer is yes.
This type of policy is designed to cover all cars, vans or trucks used to conduct business. It’s not for your personal vehicle that gets you to and from work. If you plan on directing employees to use a car, van or truck while they’re on the job, you especially need this policy.
Cover All Cars, All Employees
A commercial auto insurance policy can be designed to cover just one car and driver, or you can add a large number of employees and vehicles. From fleets to solo operators, you have a lot of flexibility. You can also add coverage for the tools or inventory you carry in the vehicle, protecting your business from a potentially expensive loss.
On the other hand, your personal policy is typically only designed to cover you for the car you drive and the other drivers in your household who use the vehicle.
Liability: You Have a Lot at Stake
While a personal auto policy protects you and your passengers from personal injury and offers an average level of liability coverage, this isn’t enough for a business.
A commercial policy’s coverage limits are typically much higher. If you own a business and you get into an accident with your company car, you have a lot more at stake than if you were driving your personal car on your own time. Make sure you’re protected — talk to an insurance agent who knows the type of coverage you need.
Getting a Quote: It’s Different for Commercial Policies
Commercial policies are written and rated differently than personal policies. You will need to provide different types of information when you obtain a quote. The insurer will need to know you and your company’s information, plus the makes and models of all vehicles. They will also need all driver information as well as how the vehicles are typically used and what they carry.
You Can Still Save
By bundling insurance policies and instituting safe employee driving programs, your business can still save money on commercial auto insurance. Talk to Four Seasons today and see how we can help you get the coverage you need for less.