Insuring vehicles for your business may not be as straightforward as your personal vehicles. Are all my employees covered? What are the differences between business and personal auto insurance? Below are some of the questions you should ask about Business Auto Insurance.
Is coverage mandatory for a business that uses vehicles? Yes, in this instance it’s the same as auto insurance. It is illegal to drive a vehicle without any coverage against damage to the vehicle or any harm to your employees.
What is the difference between business auto insurance and personal insurance? Business auto insurance is similar in coverage to your personal auto policy. However, depending on your particular businesses’ needs, business auto exposures can be much more complex than what the typical personal auto insurance line covers.
What can I do to influence the premium I pay? The best ways to keep the rate down is to make sure that both you and your employees have safe driving records, and use less expensive vehicles for your business.
What factors impact the premium I pay for Business Auto Insurance? The type of business you operate, the types of vehicles, the radius your business operates in, and yours and your employees driving records can all affect the premium.
How does the claims process work? The process typically begins reporting the accident to both the police and insurance company, assessing the damage, and working with a claims handler.
New York Commercial auto insurance covers all the vehicles (autos and trucks) against property and liability risks, and at the same time, covers any of your employees who are operating their personal autos while working for your business. Whether your company owns one car or a whole fleet, you should cover this exposure as soon as possible to minimize your potential loss.