Buying your first vehicle for the business can be just as exciting as buying your first car for yourself. It feels like a major milestone, and it can mean big things for the company. In all of that excitement, you don’t want to get carried away and forget one of the most important things. You need insurance for any company vehicle, and that insurance is not the same as your standard personal policy. We’re talking about commercial insurance today, and DJ Kauffman Agency Inc. in Hutchinson, KS wants you to know the basics before you dive into your search.
Technically, commercial insurance refers to any business-class insurance policy. In general, the term “commercial insurance” is often used as a shortening of “commercial auto insurance.” We’re talking about cars and drivers. In essence, a commercial policy can cover business-owned vehicles in much the same way a personal auto policy would. You can get protection from theft and damage. If something happens to the vehicle, the policy helps you pay to remedy the situation.
Often, the more important aspect of commercial insurance is liability coverage. The policy should cover any and every employee who will drive the insured vehicle(s). This protects you from liability claims if your vehicle or employee is involved in damaging property or causing injury, and it can be the thing that keeps the business from shuttering if the worst happens.
While commercial insurance covers many of the same things as a standard auto policy, the practice and scope of your business can make the finer details of the policy feel foreign. If you want to be sure you’re getting the right plan, talk to a representative of DJ Kauffman Agency Inc in Hutchinson, KS.