Business Car Insurance
Cars owned by businesses and driven for business need insurance that covers commercial purposes. Businesses typically have more and different types of assets than individuals and families. These assets need proper protection. Getting the right amount of business car insurance can help protect a business against loss while also providing peace of mind.
If you own a business, it is important to be knowledgeable regarding your auto insurance policies to ensure that your business is protected. It can be confusing what coverage types you need with the wide range of vehicle uses such as mixing personal driving with commercial purposes. Before signing for any new policy period, be sure that coverage you are paying for adequately protects all aspects of business and personal use.
If I Own My Own Company Do You Need Business Car Insurance?
The answer is usually yes. As more and more people operate an online business from home, this is an important matter to consider. If you drive a car to make client visits, meet with prospective clients, or deliver products you need to make sure you have the adequate business car insurance coverage. The more a business drives, the more risk there is for vehicle accidents and damages.
And if you are driving for these purposes under a personal lines policy, you are putting yourself in serious jeopardy. Do not put your business at risk. Your insurance company may deny claims against the policy due to violation of the provisions regarding commercial use.
Commercial auto insurance policies do not vary greatly from personal lines but they are distinct. Commercial policies have liability coverage for property damage and bodily injuries at a minimum but offer a variety of optional coverage to better protect a business’ assets. Commercial lines can cover your company from financial liabilities resulting from a motor vehicle accident. It may also be tax deductible as a business expense.
Is Business Car Insurance More Expensive?
Businesses have a lot of liability and significant financial assets. Whether it is protecting the value of vehicles, equipment, operating costs, making payroll, or having lost income benefits, companies need to have the right amount of coverage. Employees who are driving also need to be properly protected.
Business car insurance is typically more expensive than personal coverage as businesses normally have more assets to protect. But it does not have to be. Some companies offer policies that allow you to combine personal and commercial lines insurance and save in the process.
Also, by using our free, no obligation quote system, you could save hundreds off your current business car insurance rates. Our system allows you to compare rates from leading insurers and see how their coverage and prices stack up. Just enter your business zip code below to get started.