Commerical auto insurance coverage
Posted in: Auto Insurance
Commercial auto insurance: Is it always necessary?
If you own a business where you use vehicle(s) to conduct your business activities, you need to have a business auto insurance policy with liability coverage, comprehensive and collision coverage, and personal injury protection (which is also referred to as medical payments coverage). You also will need underinsured/uninsured motorists coverage.
Be sure, if the vehicle is owned by the business rather than you personally, that the name of the business appears on the automobile insurance policy as the "principal insured."
However, if you use your personal car (owned by you individually) for both business and personal use, you may not need to purchase a separate business auto insurance policy. Consult your insurance company or agent in this scenario.
If you have employees who are driving your company cars or their own cars for your business, you will need to make sure that they are covered by your business policy.
Your insurance agent should be able to discuss your options for business auto insurance coverage and find the best rates and coverage for your needs.
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