When you own a business, it’s crucial to purchase the correct kind of commercial insurance coverage to make certain you are adequately protected. While it’s typical for most companies to have liability, property, and workers’ comp insurance, company vehicle coverage is another element that may need to be considered. Understanding the differences between personal and commercial auto insurance policies is the key to determining whether or not your business requires the latter. Michael E. Glick Insurance offers a variety of business insurance services to local companies in Boerne, TX. The agency takes the time to do a risk assessment for each client and then explain which coverage options are the most suitable.

The following factors help identify whether or not commercial auto insurance is necessary:

• Vehicle Use: The necessity of commercial auto insurance will largely be based on how you are using the vehicle in question. If it is regularly being driven for business purposes, it should be covered under your commercial insurance policy. This includes transporting other people, delivering food, goods, or equipment, or hauling tools that specifically pertain to the services your company provides.
• Liability Limits: One of the most vital things to keep in mind when figuring out if you need commercial auto insurance is the liability limits offered under a personal policy are typically inadequate for what a business requires. The higher limits under commercial coverage ensure you will be protected from having to pay for the expenses associated with claims or lawsuits yourself.
• Registration & Drivers: The name the vehicle is registered under is another important consideration. When it’s registered under a business rather than an individual, it must be covered by a commercial auto insurance policy. In addition, if you have employees driving the vehicle, they should be covered by the commercial insurance policy as well.

Commercial auto insurance is meant to provide you with financial protection in the event of an accident and goes above and beyond to safeguard your business assets and investments. Contact Michael E. Glick Insurance at (830) 816-9488, or visit their website to request a quote.