post

Commercial Auto Insurance Options for Small Businesses to Fleet Vehicles

by Posted in Auto Insurance, Commercial Insurance Tagged , , , Leave a comment

The start of a new year has many of us thinking of new goals. Maybe one of yours is to start or expand a business. If that’s so, remember that an important protection is the right insurance. Commercial auto insurance is not just for businesses with a fleet of vehicles. It’s also a crucial financial protection for small businesses and individuals who use their vehicles for business purposes. L & M Insurance Group, an independent insurance agency, writes with many different insurance companies to find you the most affordable coverage, as well as a policy tailored to meet your specific needs.

Don’t take the chance of having a claim denied because you have a personal auto policy but are using your vehicle for business purposes. A commercial auto policy is not always more expensive than a personal auto policy; it might even cost less! That’s just one reason why you should not try to hide business use of your vehicle from your agent.

Do you need commercial auto insurance?

Commercial auto insurance, also known as business auto, is intended to protect you financially if you or a company employee driving a company car is at fault in an accident, and injures someone or damages property. A commercial auto policy will cover the cost of the claim up to the policy limits. You need some form of commercial auto insurance if you use your vehicle for work purposes other than driving back and forth to your job. This might include:

  • Delivering packages or food
  • Transporting people, such as driving for Uber or Lyft
  • Driving to job sites or transporting clients or other employees
  • Transporting tools and equipment to a construction site
  • Vehicles registered in a business name or bearing a commercial license plate
  • Pulling a trailer in relation to your work

Several types of commercial auto policies are available for several different scenarios, including:

  • Occasional business use—a policy that covers one main driver, and often his or her spouse, who uses a vehicle occasionally for work.
  • Business use for multiple drivers—a policy that covers business use by multiple drivers.

L & M Insurance Group—your partner in business

Independent insurance agencies like L & M Insurance Group are ideal places to purchase your commercial auto insurance. Why? Because we work for you. We’re knowledgeable about the options available to you, and can compare insurance rates among the multiple companies we represent. We’re also local—and available to discuss options, look for discounts, and customize an insurance policy to meet your needs. Please give us a call at 813-672-4100, or contact us online for a quote, or if you have any questions about a commercial auto policy.

Starting a Side Hustle? You Might Need Commercial Auto Insurance

by Posted in Commercial Insurance Tagged , , Leave a comment

Commercial Auto Policy

Photo by Dan Chung on Unsplash

More and more people are starting side hustles, whether to make a little extra money to cover their bills, or to start their dream business. If you’re one of those people, you should consider buying a commercial auto insurance policy. It’s not just big businesses with multiple vehicles that need this coverage—it’s anyone who uses his or her vehicle for business reasons on a regular basis.

Personal auto policies almost always exclude business use, and if you’re in an accident, your claim could be denied. Be honest with your agent about the nature and extent of your business use of your vehicle so he or she can help you find the best deal on coverage you need.

Here are a few situations that call for a discussion with your agent about a commercial auto policy:

  • Do you use your vehicle to pick up or deliver goods such as newspapers, pizza, or other goods, or do you provide messenger services?
  • Is your vehicle registered or titled in the name of a corporation or partnership?
  • Do you have employees who drive your vehicle for business purposes on an occasional or regular basis?
  • Does your vehicle have special equipment permanently installed, such as ladder racks or permanent toolboxes that are used in your business?
  • Do you regularly drive to job sites or to meet clients, or sometimes transport clients from one location to another?

Bottom line: If you’re using your vehicle for business purposes, you need commercial auto insurance.

Commercial auto policies are designed to protect you and your business from financial harm if you’re in an accident. Though there are many factors that must be considered when rating a commercial auto policy, since the major coverages are basically the same, commercial auto insurance doesn’t always cost more than a personal auto policy.

L & M Insurance Group is a local independent insurance agency with the expertise to help you make sure your insurance coverage will protect your business and you personally from claims, even unwarranted ones. We have been serving the car insurance and commercial auto insurance needs of Riverview and surrounding communities for more than 10 years. Call 813-672-4100 for more information about commercial auto insurance (or car insurance in general), or click here to contact us by email.