Three Additions Or Options You Should Make Sure You Add To Your Commercial Auto Insurance Policy

If you are opening a new business where you will use one or more vehicles for commercial purposes, you have likely already started looking into commercial auto insurance. You should know though that commercial policies are a bit different than the one that currently covers your personal vehicle, and you might also need to add some additional options to the policy to make sure you are fully covered for your specific use case. Here are some of the additional options you may want to inquire about when selecting a commercial auto insurance policy for the first time.

Make Sure the Vehicle is Fully Covered If It Will Sometimes Be Used for Personal Use

Are you a small business owner who is using a vehicle for commercial purposes but you may also use that same vehicle to drive around town to run personal errands? Read the fine print on your commercial auto policy and make sure you are covered if an incident or accident happens while the vehicle is being driven for personal use. You may have to select an additional option in order to get full coverage for every possible scenario. Make sure anyone else that drives the vehicle besides you will also be covered for these same situations.

Consider Additional Liability Coverage to Keep Your Business in Operation If a Major Incident Occurs

If an employee causes an accident that causes bodily harm or property damage while in a company vehicle, your business could become a target of a lawsuit or you might be on the hook for some kind of settlement. Your commercial auto policy might have options that can cover your business in this kind of situation, but you might not get a significant amount of coverage with a basic policy. It's worth paying a higher premium for more liability coverage because it will give you peace of mind that your business will still be OK if a bad situation ever does occur. If you've built your policy correctly, the insurance provider will pay to cover you instead of you having to pay the affected party directly out of your own bank account.

Rental Reimbursement is a Good Idea for Auto Insurance Policies But May Be Especially Valuable for Commercial Vehicles

If your company vehicles are required for the daily operation of your business, you might not be able to wait for a damaged vehicle to be fixed after an accident. You will likely try to rent another vehicle during this time frame until your original vehicle is repaired or replaced. But renting certain types of commercial vehicles could be much more expensive than renting a standard personal car. A rental reimbursement option on your commercial auto insurance will help your company financially navigate this situation until you can get your own vehicle back out on the road. 

For more information, contact a local agency like Rowell Insurance Agency.