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Insuring your personal automobile can be pretty straightforward. While insuring a business can be a bit more complex, our independent business insurance professionals can help. When you combine business insurance and vehicles used for business, you are looking at a whole new set of potential circumstances that can be challenging.
If your business has a fleet of vehicles, for example, it is pretty black and white. Your company is responsible for making sure they are covered. But what about your personal vehicle or employee vehicles when used for work? Let’s take a closer look.
As mentioned, fleet vehicles are pretty clear cut. The difference can be, however, in how those vehicles are used. If they are livery vehicles intended to transport people, they will fall into an entirely different category than those used to deliver packages or work trucks. Work trucks may carry thousands, if not tens of thousands of dollars in tools, parts, and accessories.
If the company owns vehicles that the owner or upper management uses for work and personal use, the company can be held responsible in a work-related accident. The same is even true for a personal vehicle being used for work purposes. Yes, this can include an employee who is involved in an accident, using their personal vehicle, on an errand for the company.
As you can quickly see, situations can be complex and costly if your business is unprepared.
Virtually every company uses vehicles to conduct at least a part of their day-to-day operations. The best place to start is with a conversation with one of our business insurance experts. Talk about your business and discuss any company vehicles that are owned. Tell them about how and when personal vehicles may be used for company purposes.
They will assess your situation and go in search of an insurance company to best protect your interests.
Don’t assume personal auto insurance will cover you for business and vice versa. Get the answers you need by contacting us today.