Auto Insurance For Small Business

If you are a small business owner, you may have questions about auto insurance for your business. You may need to purchase hired and non-owned auto insurance for your business vehicles. Hired and non-owned auto insurance will cover business vehicles as well as personal vehicles used for business purposes. Although many small businesses do not realize they need this type of insurance, it is important to have this type of policy because using a personal vehicle for business purposes can create auto liability problems. insurance auto quotes

Cost

The cost of auto insurance for a small business can be high. However, many small business owners find ways to reduce their premiums. One such way is to get quotes from multiple insurance providers. Using a comparison site such as Insureon can help you make a decision based on price and coverage.

The cost of auto insurance for a small business depends on a variety of factors, including the size of the vehicle and the driving record of the drivers. For example, if your company owns two vans, it will be more expensive than if you own just one. The type of cargo you transport will also affect the premium. For example, if you are a trucking company, you will have higher premiums than if you only drive one van.

Exclusions

Exclusions are a key element of insurance policies. These restrictions are designed to prevent you from being held liable for a loss or damage that isn’t included in your policy. In the case of auto insurance, these exclusions include damage to property and bodily injury resulting from an accident. The insurance provider will determine the specific exclusions that apply to your policy.

Exclusions are important to know when purchasing a commercial auto insurance policy. Many commercial auto insurance policies don’t cover certain incidents, like unauthorized driving by an employee. Others may limit their coverage to incidents involving damage to another person’s property or a specific amount of money.

Single deductible endorsement

If your business owns several vehicles, you might consider getting a single deductible endorsement for your insurance. These endorsements are designed to give you additional protection in case of an accident. But they’re not available in all states and situations. To find out if this coverage is right for you, contact your insurance agent and see what options are available to you. For example, you might want to add medical payments coverage to your policy, but you’ll need to work with your agent to add it.

If you own a small truck and trailer, you might want to consider a single deductible endorsement for those policies. If you want to avoid multiple deductibles, this endorsement allows you to have a lower premium. It will also save you money on auto insurance because you’ll only need to pay one deductible instead of many.