When it comes to insurance for cars driven for both business and personal use, you may run into some gray areas. These tips can help you provide the best mix of personal and business coverage depending on your situation.
Several of my employees drive a company car for business purposes.
Your vehicles need commercial auto insurance that meets state minimum standards. In addition, you may want to look into a commercial umbrella policy, to cover any liability above the auto policy maximums.
My employees use their personal vehicles on business.
The employee’s personal auto insurance will apply in most cases. If the employee’s liability coverage is not sufficient to cover damages, put in then the accident victim could sue your company. A commercial auto policy can be obtained that covers your employee’s vehicles and could help offset the costs of such a lawsuit.
I own a small business, have no employees, and use one car for work and personal needs.
Your personal auto insurance should be sufficient. Make sure you have enough liability coverage to protect the assets of your business. You should also check if your coverage will reimburse you for theft of business materials from the vehicle.
My employees use my car for business matters.
A commercial auto insurance policy that specifically covers employee use will meet your needs.
Gee Schussler Insurance Agency, in Orland Park, Illinois, can help with all your commercial insurance needs. To learn more, pleasecontact us.
