If you drive a car, chances are you have an auto policy (we hope!), as it’s required by law. Many individuals would not consider commercial auto insurance for themselves unless they own a business, have purchased a vehicle on behalf of their company, or directly utilize vehicles as part of their day-to-day operations. Right? Wrong.
If you are using your personal car for more than commuting to and from work, you may want to consider a commercial auto policy. Here’s why:
Transportation of Goods For Money
Let’s say that part of your job is to transport (people or goods) and unfortunately, you are involved in an accident. Personal insurance will not cover damages to people, property, or goods if you were transporting for work. (Think: pizza delivery personnel, driving a client to a meeting). If you are using your personal car to transport equipment or goods or driving with clients, it is considered driving for work or remuneration. In this instance, the insurance company will consider your purpose for driving and may deny coverage.
Be Mindful Of What You Are Transporting
Transporting heavy equipment for work is considered a greater risk than just commuting to work. Tools, technology, and other goods of value are outside of the normal level of risk assumed by personal insurance coverage and insurance carriers may not cover a claim involving the transportation of these items.
Limited Personal Insurance
For serious accidents where a number of people may be injured, your personal auto insurance may not cover all of the damage to individuals and property. Your policy may be limited or maxed out leaving you obligated to pay for remaining damages and legal fees.
With the addition of a commercial insurance policy or adjustment to your personal auto insurance policy, you can drive carefree, carefully. Speak with one of our brokers today about supplementing your personal auto insurance with a commercial auto insurance policy and to ensure your potential risks are sufficiently mitigated.
