If you drive a lot for work or transport tools for your job, you may need commercial auto insurance. Your personal auto insurance does not cover work-related equipment or vehicles, so you’ll need a separate policy. Commercial auto insurance is also necessary if you own a fleet of cars or drive a vehicle for business purposes.
If you operate your own business, it may be tempting to use your own personal car insurance policy. However, a commercial auto policy will provide more comprehensive coverage and limit of liability. For example, if you transport goods for a living, you’ll likely need higher Liability insurance limits than your own personal policy.
Commercial auto insurance is designed to cover the costs associated with repairing or replacing a vehicle used for business purposes. In case of an accident or a lawsuit, your personal auto policy will not provide any coverage. Generally, a commercial auto policy will include collision and comprehensive coverage. Your policy limit may be higher than your personal auto insurance, so it’s important to choose a policy that provides you with these special coverages.
You should compare quotes to see which plan offers the best deal. Depending on the type of coverage you need, commercial auto insurance can be very costly. Take the time to compare quotes and find the best option for your business. One of the most popular choices is Progressive. This company offers comprehensive coverage at a competitive price.
A commercial auto policy covers you and your employees who use your car for business purposes. It will also cover any rented or hired vehicles used by employees. While personal auto insurance will cover you for business-related expenses, you may not be covered when your employees are involved in an accident. It’s best to purchase commercial auto insurance if you own a company vehicle.
As the cost of coverage for commercial vehicles is higher than that of personal cars, commercial auto insurance is often tax-deductible. Not only will you receive lower premiums, but you may also be able to deduct other expenses, such as vehicle repairs, garage rent, new tires, and tolls, from your income taxes.
Commercial auto insurance protects your business vehicles against theft, damage, and third party liability. It also protects you against financial losses due to accidents. Besides protecting your vehicle, commercial auto insurance also covers bodily injury liability and personal injury liability, which covers any injuries caused to other drivers. Personal injury protection provides coverage for medical expenses and lost wages. It may even cover funeral costs.
If you have multiple vehicles and are traveling to different locations, you may need commercial auto insurance. It protects your business against liability and compensates the victims in case of an accident. Commercial auto insurance also covers property damage. In addition, commercial auto insurance includes other features, such as medical payments and uninsured motorist coverage.