Commercial insurance is a crucial component for small businesses to meet their legal and contractual obligations and manage their risks. However, small business owners sometimes unknowingly take risks when they rely on their personal auto insurance to cover their business vehicle use. To avoid this potentially costly mistake, let the Allen Insurance Agency team, serving the Ramseur, NC market, create a tailored commercial and commercial vehicle insurance plan for your business.
Understanding Commercial and Commercial Vehicle Insurance
Small businesses in North Carolina come in all shapes and sizes, and their commercial insurance needs vary based on their industry, legal entity, number of employees, and how they use motor vehicles in their business. Nearly every small business uses motor vehicles to conduct business, and that vehicle use should be covered by commercial vehicle insurance.
While small business owners often acquire property, liability, and workers’ compensation coverage, some fail to acquire commercial vehicle insurance, assuming their personal auto policy offers the necessary protection. However, only commercial vehicle policies properly cover vehicles:
- That is leased or owned by the business
- Used by you or an employee for business purposes, such as taking a client or employee to lunch or a business meeting
- That transport tools or deliver products to clients or work locations
Personal vehicle insurance generally has lower liability limits than commercial vehicle policies.
If any of the factors mentioned above apply to your vehicle use, talk to your agent to ensure you adequately protect yourself and your business while avoiding unnecessary risks.
Working with the Allen Insurance Agency
The Allen Insurance Agency proudly serves the Ramseur, NC, and surrounding business communities. Our commercial insurance experience can help guide your commercial insurance planning. Stop in today or call us at (336) 824-4130 to schedule an appointment.
