Does Your Business Need Commercial Car Insurance
Many small business owners, particularly home based business owners, use their personal auto insurance policy to cover vehicles that are used for company work. In some cases it was ok when the companies were sole proprietorships, and the business owner was the only one to drive the car to an occasional meeting or client interview. Even as the businesses grew, the owner could add a business endorsement to a personal policy, which would provide adequate coverage.
But as some of these businesses grew, purchased inventory and equipment, and even hired employees, they may have outgrown a personal policy.
If you are concerned about the use of your personal vehicle for business, it would be a good idea to inspect your own personal policy. You should also speak with a qualified insurance agent. It would be awful to lose your business because of poor business vehicle coverage.
You may have declared a low mileage estimate when you took out your policy. Lots of people carry the same car coverage for years, and they really do not remember what they put on an initial application. But if you used to use your car to pick up the afternoon car pool, and now you use it to drive all over town, you probably need to correct your policy.
Do employees use the car, or do you expect them to use their own cars for work? You really should address your coverage if other people, not named in your policy, use your vehicle to perform your company business.
Of course, you think about damage to vehicles. Your car, and other cars, could be damaged in a wreck. But personal injury liability insurance may be a bigger issue. If you let others drive your car, or if you pick up passengers, you should be particularly concerned about commercial vehicle insurance.
What do you carry in your car? If you transport inventory or supplies, you are risking loss through damage or theft if they are not properly covered. Many small businesses really cannot afford to replace these items. Proper business car insurance can minimize risk in case of an acciden or theft.
You do not want to risk your business because you lack property business car insurance.
Get more help with Commercial Vehicle Policies .
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