Exploring the Differences Between Personal and Commercial Auto Insurance
As a business owner, you’ve likely spent a lot of time brainstorming different ways to stand out from the competition. Delivery services are on the rise, and perhaps you see a potential opportunity for your business. Finding the right auto insurance policy is important because it helps protect your business if an emergency arises. Here’s a look at whether personal or commercial auto insurance in Redlands is the right fit for your business.
Personal Auto Insurance Explained
Personal auto insurance Redlands covers you if your car suffers damages while using it for personal reasons. Some of the common situations where personal auto insurance protects you include running errands, commuting to work, and any travel that is not work-related.
Commercial Auto Insurance Explained
Commercial auto insurance Redlands is the right option if you or your employees use cars to complete business-related endeavors. Purchasing commercial auto insurance is recommended if you frequently travel to different job sites, operate a delivery business, or rely on your cars to move heavy equipment. Commercial auto insurance is considered essential if your business uses big rigs and large trucks.
Primary Importance of Commercial Auto Insurance
Businesses rely on commercial auto insurance to protect their fleet of cars and their overall business. Generally, personal auto insurance policies do not provide liability coverage to commercial vehicles. There are some alternative options to consider as well. Commercial auto insurance isn’t necessary if you use your car to complete business tasks two or three times a year. You may find suitable protection by adding commercial auto insurance to your business. Obtaining hired/non-owned auto insurance is another option to consider.
How to Proceed if You’re Using Your Vehicle Personally and Professionally
Businesses choosing to purchase vehicles simply for commercial use is becoming rare, which may complicate home and work-life balance. If you rely on your car for everything, you’re exposed to different risks personally and professionally. Commercial auto insurance is the recommended option if you’re completing business-related tasks every day. Commercial auto policies also cover any employees who use your car on the job.
Commercial auto insurance policies cost more than personal auto policies because they normally include more flexible coverage options and higher liability limits. If one of your commercial vehicles is stolen or vandalized, the policy covers potential repairs or a replacement. Commercial auto policies are unique because every business faces different challenges. Your insurance agent will adjust the policy after analyzing your business. The agent will assess the number of vehicles you are insuring, the number of people driving them, the types of vehicles in your fleet, and their usage.
In most cases, a personal auto insurance policy only covers one driver. You do have the option to add a loved one to your policy if they stay with you. If one of your friends uses your car and causes an accident, they will not be covered. Commercial auto insurance covers your employees and other occupants of the vehicles. If your employees are injured in an accident, their medical care is covered.
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Consult with Little & Sons Insurance Services
Commercial auto insurance adds another layer to help you protect your investment. Driving on the road is dangerous, as an accident can occur at any moment. Adding the right auto insurance policy can keep you from losing everything. If you have any questions about your policy, contact the experts here at Little & Sons Insurance Services, and we will assist you.