Lesson 6 of 11
In Progress

Commercial Auto Insurance

Collin Gabriel August 23, 2022


Craig Vattiat (00:00):

Right. Moving on to commercial auto insurance. This is gonna have higher liability limits than your personal auto insurance, and that’s gonna help to protect your business. Um, if you have to use your personal car for work, uh, have a business owned or leased cars, if you use rental cars, or if you have your employees use their own cars for their work, then your, their personal auto coverage or your personal auto coverage does not cover those risks. And this is where commercial auto insurance will. Um, so there’s some ways that can help to reduce your risk and manage the costs associated with commercial auto insurance. Now, one is that you make sure that your staff are well trained and have good driving records. You know, that’s an important consideration. Uh, you can also shop the insurance costs before you buy a new vehicle. Um, is there gonna be a more affordable model that can help you to bring that insurance cost down?

Craig Vattiat (00:57):

You can also save premium, save on premiums, using safety devices, um, anti theft devices, parking it in a garage, choosing a higher deductible that can help to bring those costs down. And one really important note about anything that’s permanently attached to your vehicle. Um, make sure your insurance company knows about that. Um, if it’s not covered consider increasing insurance for those items. So those might be, uh, a toolbox. It might be a generator or a welder that you have physically attached to your car. And think about that. Um, one story kind of related to commercial auto insurance is that our office has received a lot of calls over the past few years from people who have gotten into crashes when using, you know, their personal vehicles for delivery or ride sharing services. You know, again, if you use your personal car for business and you only have that personal auto insurance and not commercial auto insurance, any claims that you file are gonna be denied because that use using your car for business purposes is excluded. So again, you might think you have that coverage in place when you don’t. It’s really important that you ask your insurance agent about commercial auto insurance. If you’re driving your car for work purposes,