Business Vehicle Insurance 101

Understanding Your Commercial Coverage

As a business owner, you know that your insurance coverage is the key to protecting your business's financial future. While you have probably taken out a business owners policy (BOP) to safeguard your business, it is important for you to note that it does not contain coverage for your car. Consequently, if you are using your vehicle for work, you need to secure a separate business vehicle insurance policy to protect your car and your company.

When you take out this coverage, you will have a few options. You can insure just the vehicles your business owns, expand your coverage to include automobiles your business hires or leases, or push your coverage even further to include any cars used by your business, even those it neither owns, hires, or leases. In general, the third option is best as it will protect you if one of your employees causes an accident while driving his or her personal vehicle for work.

It is also important that you examine which kinds of physical damage coverage your vehicles are offered in your policy. First, make sure that you have collision coverage, which will cover losses that result from your car colliding with another car or object. Secondly, get comprehensive coverage so that you can be protected against theft, floods, fire, and more.

Ultimately, securing business vehicle insurance ensures that nothing that happens on the road can damage your business's long-term success. Talk with your agent to put the right protections around your business.

As a business owner, you have enough on your plate without having to worry about the minutiae of your business vehicle insurance. Fortunately, knowledgeable insurance agents can review your coverage for you, ensuring your New York business has the protection it needs. To set the right commercial coverage in place, contact Scavone Insurance Agency Center LLC in White Plains.