Which Small Business Auto Insurance if Best For You?

When starting a small/home business there are lots of things that you have to take care of. Setting up a home office for yourself and deciding how big of a ‘small’ business you’re looking to start may be a couple things to worry about. Insurance, however, may be the most important thing to consider when starting a home business.

There are lots of different kinds of insurance that can be taken into consideration such as property insurance, workers’ compensation insurance, and liability insurance. One type of insurance that is often overlooked is small business auto insurance.

Many small business and home business owners wonder whether to get commercial auto coverage or to buy personal auto coverage. Typically, if you’re going to be using your vehicle to deliver goods or services, personal auto coverage will be fine. The main factor to consider is whether you’ll be driving other people around a lot, because then personal auto coverage may not be the way to go.

This being said, commercial auto insurance is usually the safe way to go for a few reasons. Vehicles that are in an accident while working may not be covered by your personal auto insurance. Commercial auto insurance will help provide coverage for you and all of your workers’ vehicles, against injury, loss or damage to vehicles, and damage to other property. The link below offers several places you can view to check out quotes and consider what type of small business auto insurance is best for you:

http://www.americaninsurancedepot.com/auto.htm

Commercial auto insurance generally is offered with premium coverage’s such as a commercial package. Most policies will include multi-vehicle coverage with the plan, plus claim-free premium discounts. What it will actually cover varies from business to business, but generally bodily injury, property damage, medical payments, collision, and comprehensive to name a few. While your personal auto insurance will be good enough for you, it will not be near good enough for a small business. That is why getting commercial auto insurance will relieve you of worrying about using company vehicles and will take the risk away from you and move it to the insurance company’s. Just remember that if a company vehicle is damaged in an accident or even stolen, it is the company that has to repair or replace it.

As for the cost, typically a small business auto policy is priced no differently than your regular auto policy. The price will be based on the number of miles you drive, who is driving the vehicle, your driving record and so on. Another thing to consider when thinking of the cost is the liability limits and comprehensive and collision deductibles you choose. The higher your limits the higher your premium, and the lower the deductibles the more you’ll pay. In order to minimize financial risk, higher liability limits might be the way to go.

Commercial auto insurance would generally be the safer way to go and possibly the smarter way to go. However, it is you that knows the size of your small business and the type of small business auto insurance you need. If there are simply a couple cars in the small business and you’re not too concerned, then go with the personal auto insurance. Just be careful when driving the car under business related terms. So you have the tools and the information as to what is best and how to go get your small business auto insurance, Good Luck!!

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