You can never predict road conditions, weather, or what other drivers will do while you have company vehicles on the road. So, if your business depends on cars, trucks, or vans as an essential part of your daily business, you’ll want to look at adding business auto insurance so you can safeguard your company’s assets.
Who needs business auto insurance?
Obviously, if your business owns, rents, or leases any vehicles, you need commercial auto insurance. But you should also carry coverage if employees are driving their own vehicles while conducting business for you. That’s because if an employee is in an accident in their personal vehicle, they could exhaust their personal liability coverage limit and then the injured party could come after you.
Can I pick and choose my commercial auto insurance coverage options?
Yes. Just like with personal auto insurance, you can select various levels of business auto coverage. Most states require that you carry at least a minimum amount of commercial liability insurance, but that is a smart business practice, too. Lincoln-Logan May Enterprise will tap our network of top-rated insurance companies to provide you with a commercial auto insurance quote that can include:
- Auto liability
- Medical payments
- Comprehensive coverage
- Collision coverage
- Uninsured and underinsured motorist coverage
- Coverage for autos you borrow or rent
- Coverage for employees using their cars for the business
What if the vehicles are driven for both personal and business use?
Sometimes company vehicles serve double duty in their purpose. Between 9 and 5, employees use the vehicle for business, but before and after that it’s used for groceries, running the kids around, or traveling around town. A business auto insurance policy is the best option for these cases, but you also may want to look at an enhancement to the policy that would also cover any family members that drive the company car. Lincoln-Logan May Enterprise will walk you through the best options for your specific situation.
Are there any options to extend the maximum limit of business auto coverage?
If you own a trucking company or a big fleet that is constantly on the road, you may want to look at adding a commercial umbrella policy to your business insurance plan. This is a fairly inexpensive way to get extra coverage against injury and property damage.