Personal vs. Business: What Vehicle Coverage Do YOU Need?

Everyone knows that auto insurance is a necessity when you own a vehicle.  However, some business owners aren’t aware of the need for a separate insurance policy for vehicles used for work.  Commercial Auto Insurance is a vital part of any business, whether you’re flying solo in a single truck, or in charge of a whole fleet of work vehicles and a multitude of employees.

So, why do you need a commercial policy?

Well, first, you need to know some of the factors that insurance companies will look at such as…

Type of Vehicle.  Certain types of vehicles (such as large work trucks/vans) may be excluded from a personal auto insurance policy, requiring you to carry a commercial plan.
Usage of Vehicle.  Again, there are usually exclusions in a personal plan that specify what a vehicle can/cannot be used for and still be covered.  If you are using your personal vehicle (and personal auto insurance) for work, and it is damaged (or worse) during an excluded business activity, you might be left uncovered.

Additionally, you should know what circumstances a commercial plan covers.  These include (but aren’t limited to)…

• Bodily injury liability coverage: pays for injury or death caused by your vehicle, and usually provides coverage for legal costs.
• Property damage liability coverage: pays for damages to another person’s property and again, provides for legal costs.
• Combined Single Limit (CSL): Same amount of coverage per occurrence, whether bodily injury or property damage (and for multiple persons).
• Uninsured (and underinsured) motorist coverage: Protects you from at-fault drivers who are not carrying adequate coverage of their own.
• Comprehensive physical damage: Pays for damage from fire, flood, theft/vandalism, etc.
• Collision coverage: Pays for damage when your vehicle hits, or is hit by, other objects.

Not sure if your local Winter Haven business requires a separate auto insurance plan?  We can help you determine the type of coverage you need, and how much you should be carrying on any individual vehicle.  If you already have a commercial auto plan, but don’t know if it’s enough, or if it’s the right plan for you, give us a call!  We will look over your current coverage and help you make the best decision for your budget AND your business.

Carroll Marshall Insurance is ready to make sure our Polk County businesses are covered, from their health coverage to their car (or truck)!