Whether you run a small business out of your home or you are a partner in a larger corporation, understanding the importance of both business and commercial auto insurance is essential. Many entrepreneurs sell household and beauty products through home sales and parties using their vehicles. Large numbers of handymen work as independent contractors building decks, fixing plumbing and HVAC, and even detailing cars. Each of these people have one important aspect in common – the need for good insurance on their transport vehicles.
Business Insurance Coverage
If you transport products or equipment for your business in a vehicle used mainly for this purpose – you need to have adequate business auto coverage. If you or one of your employees were involved in an accident and the products or equipment were damaged – your personal auto insurance would not cover the claim. When you are comparing quotes for business insurance, you need to think about what would happen if the products you sell, or the tools you use in your trade were damaged or stolen. How would this affect your business and your ability to pay the bills? A Business insurance plan will take care of these losses and take care of lost income while you are replacing items.
Commercial Auto Insurance
Automobiles used to transport items, equipment, or people for a business need special insurance. Businesses incur a larger liability in the event of an accident, and a personal auto policy would not be enough to take care of expenses. When talking with an agent about the different types of commercial auto coverage for your transport cars, think about how many different people drive the vehicles. How many miles are driven and in what type of traffic and weather conditions? What is the value of the goods and equipment being transported? When choosing coverage, you need to make sure you have enough protection to take care of fixing the vehicle, medical expenses for the driver and passengers, and replacement of business items in the car or truck.
Smart business owners will speak with a knowledgeable insurance agent about both business and commercial auto insurance needs. Understanding the differences and making sure you have enough coverage will ensure your business stays on track even if an accident occurs. Speak with one of our agents today.