The Complicated World of Insurance Made SimpleThe Complicated World of Insurance Made Simple

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The Complicated World of Insurance Made Simple

When I bought my first home, I had a real estate agent lead me through the entire home-buying process. This made it simple and easy for me. However, when it came time to choose a homeowners insurance policy, I became very confused about what made up a good policy. I started by doing a lot of online research into what homeowners insurance features were needed in my area and then finally called an agent who led me step-by-step through choosing the policy that was best for me and my home. I learned a lot during my research and time spent talking to my agent. I have also learned a lot about other types of insurance over the years, so I thought I would start a helpful blog all about insurance. I enjoy helping others, so come back often for new tips!


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3 Add-Ons You Should Include with Your Commercial Automobile Insurance

If your business uses a vehicle for business purposes, you need a commercial automobile insurance policy. Commercial auto insurance policies are designed for both a single-business vehicle as well as a fleet of business vehicles. As with all insurance policies, you can customize your business's auto insurance coverage to meet your needs. The key is to know what add-ons are worth it.

Hired and Non-Owned Vehicle Coverage

When you are setting up your policy, in addition to covering the vehicles that you own, you are going to want to make sure you add-on hired and non-owned liability and physical damage coverage

This add-on will cover you if an employee is injured while driving their own vehicle for business purposes. Without this coverage, if an employee is injured while driving their own vehicle for work purposes, you will have to cover the damage out-of-pocket.

This add-on will also cover you if you need to rent a vehicle for any reason. For example, if you rent a vehicle to cover a route while a vehicle is being repaired, or if you rent a car while on a business trip, this insurance can cover you. You never know when you may need to rent a vehicle, or have an employee do work in an non-company owned vehicle, and this add-on will protect you when that situation arises.

Drive Other Car Coverage

Your commercial insurance coverage is designed to cover the business use, not personal use, of your business vehicles. With this type of coverage, your insurance benefits will extend if you as the owner, or your spouse, drive a business vehicle for personal purposes. This is smart coverage to have, as you don't want to lose out on coverage because you drove the business vehicle to the store for personal groceries and then when home and got into an accident.  This policy will allow you the freedom to use your business vehicles whenever needed for personal business.

Rental Reimbursement Coverage

With rental reimbursement coverage, if your vehicle is damaged and is out of commission while it is being repaired or replaced, your insurance will pay or reimburse you for a rental vehicle. Renting a vehicle can easily put you out of your budget, and this type of coverage usually only adds a few dollars a month to your premium, making it a worthwhile investment, especially when dealing with commercial vehicles that you rely on for your business.

When purchasing commercial auto insurance, be sure to review all the add-ons that you can include with the policy and choose the ones that make the most sense for your business. Hired and non-owned vehicle coverage, drive other car coverage, and rental reimbursement coverage are three add-ons that many business owners find worthwhile. For more information about commercial automobile insurance, contact a local provider.