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Which Small Business Auto Insurance if Best For You?
By Jeff Schuman
When starting a small/home business there are lots of things
that you have to take care of. Setting up a home office for
yourself and deciding how big of a 'small' business you're
looking to start may be a couple things to worry about.
Insurance, however, may be the most important thing to consider
when starting a home business.
There are lots of different kinds of insurance that can be taken
into consideration such as property insurance, workers'
compensation insurance, and liability insurance. One type of
insurance that is often overlooked is small business auto
insurance.
Many small business and home business owners wonder whether to
get commercial auto coverage or to buy personal auto coverage.
Typically, if you're going to be using your vehicle to deliver
goods or services, personal auto coverage will be fine. The
main factor to consider is whether you'll be driving other
people around a lot, because then personal auto coverage may not
be the way to go.
This being said, commercial auto insurance is usually the safe
way to go for a few reasons. Vehicles that are in an accident
while working may not be covered by your personal auto
insurance. Commercial auto insurance will help provide coverage
for you and all of your workers' vehicles, against injury, loss
or damage to vehicles, and damage to other property. The link
below offers several places you can view to check out quotes and
consider what type of small business auto insurance is best for
you:
http://www.americaninsurancedepot.com/auto.htm
Commercial auto insurance generally is offered with premium
coverage's such as a commercial package. Most policies will
include multi-vehicle coverage with the plan, plus claim-free
premium discounts. What it will actually cover varies from
business to business, but generally bodily injury, property
damage, medical payments, collision, and comprehensive to name a
few. While your personal auto insurance will be good enough
for you, it will not be near good enough for a small business.
That is why getting commercial auto insurance will relieve you
of worrying about using company vehicles and will take the risk
away from you and move it to the insurance company's. Just
remember that if a company vehicle is damaged in an accident or
even stolen, it is the company that has to repair or replace it.
As for the cost, typically a small business auto policy is
priced no differently than your regular auto policy. The price
will be based on the number of miles you drive, who is driving
the vehicle, your driving record and so on. Another thing to
consider when thinking of the cost is the liability limits and
comprehensive and collision deductibles you choose. The higher
your limits the higher your premium, and the lower the
deductibles the more you'll pay. In order to minimize financial
risk, higher liability limits might be the way to go.
Commercial auto insurance would generally be the safer way to go
and possibly the smarter way to go. However, it is you that
knows the size of your small business and the type of small
business auto insurance you need. If there are simply a couple
cars in the small business and you're not too concerned, then go
with the personal auto insurance. Just be careful when driving
the car under business related terms. So you have the tools and
the information as to what is best and how to go get your small
business auto insurance, Good Luck!!
About the Author
Small business grants and small business resources to help you start and run your own small business. Small business training, information, articles, loans and more.
http://www.sites-plus.com
Article Source: http://www.simplysearch4it.com/article/12826.html
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| Some other articles by Jeff Schuman | |
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