commercial insurance vs personal

Choose the Right Auto Insurance Policy

Business owners and their employees use their commercial and personal vehicles to run errands, transfer goods and perform services. Auto insurance is crucial in the event of an accident. Knowing some basics about commercial insurance vs personal auto insurance can help you decide the right coverage for your company.

Commercial

Regardless of whether or not your business owns a fleet of trucks or one single van, commercial auto insurance is essential to keep claims from causing financial loss to the business. Premium rates often decrease the longer the company operates and the fewer paid claims. Some highlights of coverage options include:

  • Blanket coverage for all employees
  • Cover only certain named employees
  • Cover non-covered employees in an accident with a company vehicle

Personal

Auto insurance is a requirement to stay in possession of your driver’s license in most states. In most cases, the insurance protects the driver in the event of a car accident. Staying current on premiums keeps them active. There are ways to lower rates that are completely driver dependent such as a clean driving record.

Business owners should consider having both commercial and personal auto insurance if they own even one commercial vehicle. Commercial insurance vs personal changes the way auto accident claims are handled and who is covered.

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