Do I Need Regular Auto Insurance or Commercial Insurance?
When deciding what type of auto insurance is right for you, you need to consider the purpose of your vehicle. If a vehicle is being claimed as a personal vehicle with an insurance company, but it is being used for work other than commuting, the company will deny the claim because businesses use violate the term of a personal car insurance policy.
Businesses have to worry about increased liability risks, along with the daily grind of the business itself. Self-employed drivers especially need to consider the risk of lack business coverage, whether they deliver goods, provide a taxi service, or even rent their vehicle out to someone else.
What Commercial Auto Insurance Covers
Depending on the insurance company, coverage extends liability to any new, hired, or non-owned vehicles whether they are used by you or your employees. Trailers and special equipment for work can be covered by single-deductible options, allowing drivers to extend coverage to those tools and pay only one deductible for claims on all equipment. A trailer interchangeable agreement also covers non-owned trailers.
When a work vehicle becomes inoperable business suffers, commercial insurance covers the cost of a temporary replacement work vehicle. Also, high-limit liability coverage helps if a lawsuit results from a work vehicle accident. Medical expenses are also covered if related to an insured accident. If an uninsured driver strikes a work vehicle, commercial coverage prevents you from paying for property damages and injury bills you shouldn’t have to.
A collision coverage deductible waiver eliminates your deductible in accidents when the other part is uninsured. Collision and comprehensive coverage protect you from vandalism, falling debris, and more. Personal effects in your work vehicle are repaid up to $500 with comprehensive coverage. If a settlement doesn’t cover the remaining loan or lease on a work vehicle, the insurance company will cover it.
If an employee injury or vehicle damage results from loading and unloading heavy merchandise, commercial insurance usually covers it. Additional blanket protection temporarily covers anyone your company works for until the job is done. Broadened provision coverage provides liability for any subsidiary companies you own or obtain.
Additional Options Offered by Commercial Insurance Policies
As with personal auto insurance, most companies provide additional options to customize the best policy for you and your business. Towing and roadside assistance expenses are covered, if you and an employee get stranded on the road.
The cost of a rental car is repaid if the main work vehicle is in the shop, for up to thirty days. Sound system and inland marine coverage protect sound systems and tools from damage and theft while in transit or at the work site. If you rent any work vehicles on a short-term basis, hired automobile coverage extends liability or physical damage coverage to those vehicles. If an employee causes an accident while using their own vehicle for work, they can be protected with non-owned automobile liability coverage.
For more information about auto insurance and commercial insurance, contact us at Absolute Choice Insurance. We pledge to provide affordable insurance options for you, your friends, and family. Call today!