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Is Your Business Car Insured For Liability?

Auto insurance is required by all states for every vehicle. If you have a business which uses company owned, rented or leased vehicles you will need a business auto liability insurance policy. If you are unsure if you need business auto liability insurance, a competent insurance agent will ask you detailed questions about how you use vehicles in your business, who will be driving them and whether employees will be driving their own cars for your business.

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What exactly does a business auto liability policy cover? While the major coverage’s are similar a business auto policy is different from a personal auto policy in many respects. The liability part covers damage to other vehicles or property and injury to others for accidents where you are determined to be at fault. The auto physical damage covers repairs of vehicles you own (similar to collision insurance). You can also purchase uninsured motorist coverage and it will provided specified coverage for accidents with uninsured and underinsured motorists.

Business auto insurance policies also cover damages caused by a destructive event such as a storm. If you are suspected of liability, also think about fees and court costs.

If you own several vehicles you may have what is considered a “fleet” and be eligible to receive a volume discount or special commercial auto insurance rates. Also, if you make sure your active drivers are free of violations and accidents, your rates will stay lower.

A few things you can do take to reduce your risk is to use a responsible maintenance program, carry claims kits in all your vehicles and have your drivers participate in professional driver training programs.

Also See: Small Business Auto Insurance