Although a vehicle driven for business purposes typically needs the same insurance coverage as one driven for personal reasons (i.e., liability, collision, comprehensive, and medical payments), finding the appropriate insurance policy for your company vehicles could be a bit more complex than selecting one for a personal car.
Do You Need Commercial Auto Insurance?
A personal car used incidentally for business may not need a commercial policy. A vehicle titled to your business probably will. An examination of your specific circumstances could help determine which type of coverage would be appropriate — or possibly required by law.
Commercial auto insurance typically pays a benefit (up to the policy limits) if your company vehicle is damaged or stolen, and can help protect your company from liability claims if you or one of your employees causes damages and/or injuries while driving a company vehicle. It can also help pay medical expenses for your employees or other parties injured in an accident involving your company vehicle.
Commercial Auto Policy: Questions to Ask
Selecting the appropriate policy is a critical task with one vital goal: protecting not just your vehicle, but possibly the future of your business.