Recognizing the Need for Commercial Auto Insurance
Not all business owners need commercial auto insurance. However, it’s crucial to identify the key indicators that signal it’s time to switch to a commercial policy. State law makes it mandatory to always have the appropriate type of auto insurance coverage.
Commercial Auto Insurance vs. Personal Auto Insurance
While basic commercial and personal policies offer the same fundamental coverage like liability coverage, property damage, and medical benefits, there’s a crucial difference. Your insurance agency won’t pay out compensation if you have personal insurance but use the vehicle for commercial activities. Commuting to work does not count as commercial vehicle use, but transporting items for sale or visiting potential customers does. Also, you need a commercial policy if an employee drives your vehicle.
Along with the basic coverage, you might want to consider additional policies. Comprehensive coverage compensates if your vehicle is stolen, vandalized, or damaged in a flood or fire. Other policies cover roadside assistance if your car breaks down on the road. Nevertheless, these types of insurance won’t cover business assets inside your vehicle. For this, you’ll need commercial property insurance.
Seek Expert Advice from Land Home Insurance Services
Investing in the right commercial insurance policies can potentially save your business a substantial amount of money. Land Home Insurance Services specializes in assisting business owners and entrepreneurs navigate coverage options. We simplify the process of understanding your choices and selecting the best insurance policies tailored to your business needs. Contact us for more details or to request an insurance quote.
