Common Coverage on Small Business Auto Insurance Policies?
Auto insurance laws and whether the vehicle is for business purposes or not, is determined by the state. It is important for small business owners seeking auto insurance to fully educated themselves on what the state minimums for small business auto insurance are, and then acquire enough coverage to protect all assets involved in the business.
Typically, small business auto insurance offers coverage comparable to regular auto insurance, except it includes coverage for all the employees and vehicles used in your business operations. Small business auto insurance can apply not only to company-owned cars, trucks and vans, but also those vehicles that are leased or owned by your employees (as long as they use it for your business purposes).
Small business auto insurance should cover the basics such as liability, collision/comprehensive options and uninsured/underinsured motorist coverage. Additional coverage can be purchased to cover such expenses as glass replacement, vehicle rental in case of theft, recovery expenses for a stolen vehicle and even basic theft like a stolen stereo system.
The amount of small business auto insurance you need depends on what coverage you need to fully protect your business assets and employees. This will not be the time to spare expenses. Unexpected circumstances can cause financial ruin – property or personal damage, theft, and hit-and-runs can occur at any time. Make sure you are protected for the long run.