A Business Auto Policy offers the flexibility to provide coverage for you (the business owner) for business autos you own, as well as personal , non-owned, or hired autos used for your business. For example, it would protect you and your business, should an employee drive a personally owned vehicle for company business.
Business Auto coverage also covers vehicles that you rent occasionally for use in your business.
Simply put, if you don’t have a Business Auto insurance policy, and your company uses a vehicle, you’re taking a gamble. In the event of an accident you could be sued for everything from medical expenses to property damage — Having the right policy in place can help protect your business from financial loss.
Insurance limits offered under a Business Auto policy are typically higher than on a Personal Auto Policy – to help you adequately protect your business from financial loss.
If you or one of your employees is responsible for someone else’s injury or property damage as a result of an accident, many Business Auto policies will help to protect your business from financial loss.
Many business auto policies offer coverage to reimburse you for a rental vehicle if your own vehicles are damaged in an accident.
Business Auto premiums are based on several factors, which typically include the kind of business you operate, type of vehicles you own, where you travel to and park, overall vehicle value, your business accident history, employee driving records, and the amount of coverage you are purchasing.
Make sure your agent compares both rates and coverage with multiple insurance companies so you get the best value.
The best way to get back to business as usual is to report an accident as soon as it happens. That way you can help get bills paid, repairs complete, and your vehicle back on the road fast. Many claims handlers are available anytime, day or night, to be there when something unexpected happens.
Having the right amount of rental reimbursement coverage when an accident happens can help minimize expenses.
Most business owners have a Personal Auto policy that covers vehicles they use for personal, family, or household purposes, but only Business Auto insurance protects the business. So make sure you have a Business Auto policy, and you’ll be confident that you, your business, and your employees are covered in almost every situation.
Many Business Auto policies may even cover incidents during the loading and unloading of cargo.
When you’re buying insurance for your business, make sure you understand the value of the coverages you’re getting for the price you are being asked to pay. Choosing an insurance company that addresses the unique and evolving needs of your business will likely be the beginning of a long and valued relationship.
A knowledgeable insurance representative is a good place to start when looking for Business Auto insurance.