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Finding Enough Insurance Coverage

When it comes to making sure that your home and family are safe and sound, few things are as important as choosing the right insurance plan. About six months ago, my home burned to the ground, and without the right insurance plan, we would have been toast financially. Fortunately, because we had prepared properly, we didn't have any problems when it came to making sure that we could rebuild our place. This website is here to help anyone who might be struggling with which insurance policy to choose. Check out this blog for great information on finding the perfect policy.


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Finding Enough Insurance Coverage

Do You Need Commercial Auto Insurance? 4 Questions To Ask

by Jason Prescott

Business insurance can be complicated. If you're using cars in your business but those cars are privately owned, do you need commercial auto insurance? If you have company cars but your employees are insured, will you need a separate policy? Here are a few questions you should ask yourself when trying to determine whether you need additional auto insurance.

Are Your Employees Using Company Cars?

If your employees are using company cars, you need to have insurance on them. Anything that occurs in a company car can potentially become a liability for the business, including an accident. Even if your employees are already insured themselves, they may be under-insured. And your employees could let their insurance lapse. At that point, your company can become liable for their accidents.

Do Your Employees Use Cars to Fulfill Critical Job Functions?

If your employees are using their own cars, that doesn't mean you don't need insurance. When using a vehicle to fulfill their job functions, an employee's accidents and actions could still become the responsibility of the business. Again, this is true especially if the employee is either uninsured or under-insured. Having commercial auto insurance is the only way to protect yourself.

Is Your Vehicle Used Primarily for Work?

You may not have employees or you may not ask your employees to travel -- but your own vehicle could also be a company car. If you use a vehicle primarily for work, it's likely a business vehicle. You need to be insured accordingly in order to protect your business assets and protect yourself from accidents. 

Do You Already Have Enough Personal Auto Insurance?

Let's say that you do use your vehicle primarily for work. There's an additional question you should ask: do you already have enough personal auto insurance? If your personal auto insurance coverage is already very high, you may not have much to gain by getting an additional commercial insurance policy. But most people are actually under-insured rather than being over-insured; your insurance agent can tell you whether you're at risk. 

If you're using vehicles for your business and travel is a large part of your business, it's very likely that you need a commercial auto insurance policy. Getting a commercial auto policy is usually better than increasing your personal insurance by far -- plus it's a business expense, so it's tax-deductible. For more information, you can contact an insurance agency like the Austin Insurance Agency.