Auto insurance for business owners

Business auto insurance keeps your business moving

You’ve planned and prepared and then planned again, and now your dream of owning your own business is a reality. Nice job! Now, the real work begins. But before you dig in too deep, make sure you have a plan to protect everything you’ve worked for — that includes the vehicles you use to keep your business moving.

Running a business takes time, and thinking about auto insurance might not be the first item on your to-do list. But just like the car you use every day to get to work, the vehicles you use to do the work need protection, too. Are your vehicles properly covered? Let’s take a look at what you need to consider.

A personal policy probably doesn't cover it

You might think your personal auto policy is enough to keep your business covered too. But your business has its own set of needs, situations and concerns that a personal policy probably won’t cover.

Personal auto policies are written specifically for individuals and families. They protect your personal assets if you’re in an accident. A commercial auto policy is designed to protect you against the higher risks that come with owning a business. You can plan and control a lot of things, but you can’t plan an accident. A commercial auto policy may help protect the finances and future of your business when unplanned events occur.

How do I know if I need a commercial policy?

If you’re a business owner, you’re obviously pretty savvy and know how important it is to have a plan.

But knowing all the ways to protect your business may still be confusing. Let’s break it down.

A good rule of thumb — if a vehicle is used to help run your business in any way, a commercial policy is probably necessary. Need real examples? Here’s a snapshot of scenarios that require commercial coverage:

• You use your vehicles to transport goods, services or supplies
• You use your vehicle to transport people for a fee
• Your vehicles are owned, leased or titled in the name of your business
• You need higher limits of liability because of the nature of your work
• Your employees not listed on your policy drive your business’s vehicles on a regular basis
• Your vehicles have ladder racks or other equipment used regularly in the course of your business

Bottom line — If you’re using your vehicle to benefit your business, then make it your business to protect yourself and everything you’ve worked for. Don’t wait until something happens to figure out if your dreams are covered. Learn more about how you can stay protected with commercial auto insurance. 

The information on this webpage represents only a brief description of coverages, is not part of your policy, and is not a promise or guarantee of coverage. If there is any conflict between this information and your policy, the provisions of the policy will prevail. Insurance policy terms and conditions may apply. Coverage features and limits vary by state and may be subject to change. Some products are not available in every state. Discount availability and eligibility vary by state and policy terms. (Discounts may apply to auto and property policies.) Please check with your agent and read the policy for exact details on coverages and exclusions.

This article is for informational purposes only and based on information that is widely available. This information does not, and is not intended to, constitute legal or financial advice. You should contact a professional for advice specific to your situation.