How do you know if you need to purchase a commercial auto insurance policy? There are some businesses that require you to have a commercial policy and some that you can still get by with just your personal coverage. If you work as a self employed business person, only work part time, don’t drive over 100 miles per day and don’t use your vehicle to transport others, you may be covered by your personal coverage. These jobs may include social workers, various party plan independent consultants, home health care workers, etc.
Your personal policy will not cover your vehicle when you start using it solely for business purposes like making deliveries, allowing other drivers to use your vehicle for business reasons, transporting others for business purposes or using it for other business related uses. That’s when you need to get commercial auto that will allow for higher liability coverage for you and your employees, and additional vehicles.
When you get a commercial auto policy you will have greater liability coverage as well as additional protections not covered by a personal policy. Commercial coverage will cover you and any employees you may have when driving other vehicles, even if they aren’t owned by your company. It can also have options for covering additional items that may be lost or destroyed in an accident as long as they are business related, like tools, for instance.
Benefits of Florida Commercial Auto Insurance
A commercial policy protects your business in several ways. If you have employees driving business vehicles, you are liable for any accidents they cause or are involved in. You will be responsible for paying their medical bills, cover their lost wages and any other expenses related to the accident. If you don’t have coverage, your business could be seriously jeopardized. Just one lawsuit could ultimately cost you your entire business.
With commercial auto coverage you can be covered for not only accidents that may occur but also theft, natural disasters and even an accident that may be caused by someone else that isn’t covering enough insurance to cover your losses.
Florida Requirements for Commercial Policies
The state of Florida generally requires that you carry higher coverage for commercial vehicles than would be required of private passenger autos. While there are options, purchasing a commercial auto policy is the best way to make sure you meet the state requirements and protect your business assets. Speaking with a qualified commercial agent is the best way to assess the needs of your business and comply with all current laws.
A Florida insurance agent will be able to discuss the various options for your type of business, for instance what type of vehicles you have and what they are being used for. This will determine what kind of coverage you need and what your premiums will be. It’s a good idea to work with an insurance company that specializes in commercial policies to make sure they are knowledgeable about current Florida laws.