Commercial Auto Insurance
for Your Home Based Business
Having your own home based business can be a dream, but are you
protected? Many people remember to purchase business insurance,
because often a home based business is not covered by a
homeowners insurance policy. However, were you aware that your
auto insurance may not protect you if you are driving for your
home based business?
The first thing you should do if you have a question about
whether your individual auto insurance covers you for the
business driving that you do is to discuss the type of driving
performed with your insurance broker. However, if you do
significant amounts of driving for your home based business, you
have others that do driving for you, or you own a business
related vehicle, you will probably be encouraged to purchase
commercial auto insurance for your home based business.
So what does commercial auto insurance for your home based
business cover? Basically, it will offer you the same type of
coverage that your individual policy offers. Liability,
collision, comprehensive, personal injury, and uninsured
motorist coverage are all normal aspects of your commercial auto
insurance policy. However, if your employees driver their own
cars for your business, you can obtain a "non-owned" endorsement
to your commercial auto insurance for your home based business.
You will want to sit down with your auto insurance broker to
make sure you have all the coverage you need.
Make sure, though, that you remain a smart and savvy shopper for
commercial auto insurance for your home based business. You need
to make sure you obtain at least 3 quotes from different auto
insurance companies so that you can compare price and levels of
coverage. Discuss your situation with a broker rather than an
agent so that you can obtain more than one quote in a single
sitting.
You will also want to check the financial stability of the
companies you are considering, so check with A.M. Best, Fitch,
or Standard and Poor's to make sure you commercial auto
insurance company is highly rated. Finally, check with your
state insurance department to check consumer complaint ratios
and obtain recommendations from other business owners.
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