Commercial Auto Insurance
If you need a vehicle such as a car, van, or truck for your business, you will probably need commercial auto or vehicle insurance. Before you get a business insurance quote, you need to understand what commercial auto insurance is. Commercial auto insurance is a separate auto policy your business insurance company offers that must be purchased in the name of the business.
When You Will Need Commercial Auto
Generally, if the vehicle you are using in your business is purchased or leased in the name of the business, you will need commercial auto insurance. Neither your personal auto insurance nor property insurance will cover claims involving a commercial auto.
If you use any sort of special equipment for your business that you haul around in a vehicle, you will probably need a commercial vehicle policy. In most cases, property insurance and personal auto insurance will not cover the replacement of this equipment if it is damaged or destroyed in an accident.
You will also need commercial auto insurance if your company vehicles are driven by your employees for business purposes. Your company will be liable for any claims arising from accidents that occur when employees are driving company vehicles. Normal insurance policies will not pay these claims.
Normal car insurance policies may not cover vehicle cargo, and activities such as loading and unloading of vehicles. Commercial vehicle insurance may cover these claims in some cases, but you may have to get special riders to commercial vehicle policies to cover these risks.
Purchasing Commercial Vehicle Insurance
Commercial vehicle insurance can be purchased just like any other insurance policy. The business insurance quotes will usually reflect rates based on the vehicles covered and the driving records of the drivers involved.
Most of the major business insurance companies, as well as auto insurers, do provide commercial vehicle insurance, which often makes it easy for a person with a good driving record to get a good deal on this insurance.
There is a wide variety of additional vehicle insurance coverage that may be necessary for those in certain fields of business. Policies that cover customers' property hauled in your vehicle is one example of special coverage that could be needed. You should ask your agent for a business insurance quote designed specifically for the coverage your business needs.
Business Insurance Directory