What is Business Insurance for a Car?
Typical auto insurance policies are going to you for routine personal use like visiting friends, shopping or vacationing. They will also provide coverage for commuting to your regular place of work daily. But there are situations that standard car insurance policies will not provide coverage.
Business Insurance for Cars
If you drive to different work sites or visit various offices, a coworker uses your vehicle to visit clients, or you log hundreds of miles a week for business purposes you need to have business insurance for your car.
Additionally, if you are given a company car, it should be insured by the company that owns or leases it. Be sure to check with your employer.
Types of Business Car Insurance
There are many types of coverage may be included in your business auto policy; with additional options that you can purchase separately.
Standard coverage available includes:
- Liability for bodily injury to others
- Property damage liability
- Optional physical injury coverage for injuries that happen outside of the state in which you reside
- Personal injury to you, your employed drivers or passengers including medical expenses and lost wages
- Comprehensive coverage for damage other than collision
- Collision coverage for expenses connected with an accident, no matter who is at fault
- Medical payments coverage for the costs of hospital visits, treatment and funeral expenses
- Non-owned auto coverage for you or your employees when driving a rented or borrowed vehicle
- Uninsured and underinsured motorist coverage
- Substitution transportation when your commercial car is being repaired, and you use a loaner from the repair shop
- Loading and unloading liability
- Towing and labor costs
Adding Business Use to Your Personal Auto
There are some situations where you can change your personal auto policy from commuter to business use. The rate will be higher but not as much as a commercial auto policy. However, if any of the following apply, a personal auto policy will not be sufficient, and you will need to have a commercial auto policy.
- Autos used for pickup and delivery of goods
- Autos used for messenger services
- Autos used in any taxi or livery service
- Autos used for a rideshare service (Uber / Lyft)
- Vehicles owned or leased by a corporation
- Cars that are rented or leased to others
- Vehicles registered and titled to a business
- Cars that are driven by employees and non-listed drivers regularly
- Vehicles with a Gross Vehicle Weight that is more than 10,000 pounds
- Vehicles equipped with unique cooking, catering, plowing, racing or other equipment
- Cars with permanently attached toolboxes and ladders for business use
Insured ASAP is a leading provider of commercial auto insurance. Contact an agent today to discuss your specific needs. Call us at (708) 233-4848 for a commercial auto insurance quote.
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