As a business owner, you need commercial automotive insurance just like a personal vehicle. Liability, collision and comprehensive, medical payments/personal injury protection, and uninsured motorist coverage.
Many business owners use the same vehicle as their business and personal vehicle.
About Commercial Property Insurance
For most business owners, your business is your home away from home.
Having the right coverage on your building can mean not having to worry if your building incurs damages due to natural disasters and other instances.
About Workers Compensation
Workers compensation laws ensure financial stability for employees injured on the job.
Workers compensation insurance controls financial risks for employers. Multiple states limit the amount an injured employee can recover from an employee and most states require employers carry workers compensation insurance.
Whether you need to buy a business auto insurance policy will depend on specifics surrounding the vehicle's usage.
If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you. To ensure your business has the right automotive coverage, here are a few questions to consider:
Do you use vehicles in your business?
Who is driving these vehicles, owners or employees?
Are employees using their personal vehicles for business?
For your company's commercial property insurance, these are a few good habits to ensure you have the right coverage.
Review your property limits annually with your agent.
Ensure your building and content are insured for the proper values.
Here is one of the biggest misconceptions surrounding worker's comp insurance.
Do not confuse workers compensation as health insurance, it is designed specifically for injuries sustained on the job.