If you’re in an accident, the last thing you want to hear is, “I’m sorry, this isn’t covered under your personal auto policy.” That’s the risk you take when you don’t purchase a commercial auto policy for any vehicles you or your employees use in your business.
Commercial Auto Insurance for Businesses
Because a business has an increased liability in comparison to an individual, insurance companies exclude most business-related activity from personal auto policies. Commercial auto policies protect your business from financial losses resulting from an accident. They often include a broader range of coverages, such as physical damage (comprehensive and collision coverage), medical payments, uninsured motorist coverage, personal injury protection, loss of use/rental reimbursement coverage, and emergency roadside assistance. They can be tailored to suit your needs—and they don’t always cost more than a personal auto policy would.
Do I need a Commercial Auto Policy?
If you’re not sure if you need a commercial auto policy, think about how and if your vehicles are used in your business. Certain types of activities and situations definitely call for a commercial auto policy, including the following:
- The vehicle is used for pick up or delivery of goods, or for a taxi or other livery service (Uber or Lyft drivers have special needs—see “Coverage Options for Uber and Lyft Drivers.”)
- The vehicle is owned or registered to a partnership, business, corporation, or some other entity
- The vehicle is driven on an occasional or regular basis by employees or non-listed drivers
- The vehicle is leased or rented to someone else
- The vehicle is outfitted with permanent equipment, such as a ladder rack or permanent tool box used in your business
Whether you’ve started a side hustle, you’re an owner/operator of a one-person business, or if you employ multiple people and have a fleet of vehicles, we can help you find a competitive commercial auto policy. L & M Insurance Group has been serving the car insurance and commercial auto insurance needs of Riverview and surrounding communities for more than 10 years. Please call us at 813-672-4100 to discuss your situation, and/or to get a free, no-obligation quote, or contact us online.
L & M Insurance Group is an Independent Insurance Agency based in Riverview, Florida. We can shop, compare and recommend the home, auto, commercial or life insurance policy that’s best suited for you, your family or your business. Call 813-672-4100 or visit landminsurancegroup.com for more information.