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Commercial Auto Insurance
Commercial auto insurance is essential to protect your business from lawsuits if your business vehicles caused an accident. The basics of what it can cover is very similar to your personal car insurance, which can include:
- Liability
- Uninsured/Underinsured
- Medical Payment
- Collision
- Comprehensive
- Rental Expense
Most Commercial Auto Policies require listed drivers. Make sure all your employee drivers are listed on the policy, or there could be no coverage for that unlisted driver.
Does Personal Auto Insurance Cover Commercial Use?
Personal auto insurance could cover some types of business use situations, but it’s not necessarily automatic coverage, meaning you’ll want to adjust your personal auto insurance to reflect your business use.
Also, it’s important to remember that just because your personal auto insurance might pay a claim that you caused while using your personal vehicle during work, the lawsuit would likely also name your business as defendant. Personal insurance will not cover your business, so your business could be left to pay a lawsuit costing in the hundreds of thousands of dollars.
Each insurance company handles personal/business use slightly differently. It’s best to take out a commercial auto policy if your vehicles are mostly for commercial use.
There are some types of business use that are almost certainly not covered by your personal car insurance:
- Rental Vehicles: Vehicles rented to others are explicitly excluded under personal insurance policy.
- Commercial vehicles: Vehicles that are over a certain gross weight, such as 15,000 lbs. will need to be covered under a commercial policy. This typically includes large pickup trucks, semi trailers, and large vans.
- Public livery: Public livery is transporting people around town for a fee. This is also explicitly excluded under personal insurance policy.
- Pizza delivery: Most foot delivery, including pizza, is not covered under a personal auto policy and will need to be covered under a commercial auto insurance policy.
Finally, if a vehicle is titled under the business’s name, it will need to be insured under a commercial auto policy.
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