Monday, May 13, 2013

Commercial Auto Insurance

Do you own a small business? Do you use a car for your business?
Did you know most Personal auto insurance policies exclude the coverage if the car is used for business?  Most policies exclude the coverage if the auto is used primarily for business, but where is the line? When does occasional use become primary use? Most carriers don't have a set answer for that question.
If you use you car at all for business, you should research and consider purchasing Commercial Insurance. A serious accident can financially ruin a small business. Is that risk greater than the premium? That is what you have to decide.
If you are considering commercial insurance, answer these questions:
* Is the car in your personal name or the business? (if business, personal policies rarely cover the claim)
* Do employees drive the car in the course of business?
* Do you pick up goods or people for a fee?
* Do you visit job sites often?
If you answered "business" to the first one and/or "yes" to any of the other 3, you definitely want to consider commercial insurance.
A commercial auto policy covers you in much the same way a personal auto policy does. There is Liability coverage, Uninsured Motorist, Collision and Comprehensive. You can get towing and rental. There are different types of coverage you can add on as well, such as "non-owned"autos. This covers your employees if they use their personal car to run business errands such as make deposits, get lunch for the office...). Or "hired autos" which cover you if you lease, rent, hire or borrow a car from someone other than an employee.
Your limits can be higher with a commercial auto policy than on a personal auto. Liability can go into the millions, thus protecting your small business. Again, it can save your business from going under after a claim. The premium is no fun, but when are they? Better to pay the premium than lose the business!
If you are considering Commercial Auto, be sure to call an Insurance professional.Ask questions. Know the coverage you need and make sure you get it. 
Don't have an agent you trust? Give us try! Call The Brockman Agency toll free 877-987-8683

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