I used to believe that my standard auto insurance was sufficient. As a spoiler, it wasn’t.
The majority of people? Do you drive for business and don’t recognize it until it’s too late? When things become complicated, personal insurance may fail you. I discovered it on my own. It hurts. Hard.
Insurance for commercial vehicles is a different animal. It’s your life, not just wheels. I chose to disregard it until an incident involving my work van transporting equipment changed my mind.
Imagine this: a vehicle full with thousands of pieces of equipment, and then you are struck. Is it your fault? Not your fault? Not important. Personal policy shrugs, walks off. The heart stops. A reality check.
Coverage? surprisingly wide. litigation, stolen tools, third-party injuries, and occasionally strange mishaps like a tree falling on my van. This is a true story. Completely arbitrary.
If your employment requires you to drive, such as for early-morning bread delivery, Uber, electricians, or plumbers, this is a must. Future at stake.
My friend had a moving company. A Mercedes was rear-ended by a driver. No commercial coverage. thousands of dollars out of pocket. brutal.
Regulations? States have different systems of government. The bare minimum of liability? Actual. Until I read the fine print, I was unaware. No one reads fine print. Until catastrophe strikes.
Normal coverage for a policy (about, mind you):
* Liability (your fault) * Collision (car damage, even your fault) * Comprehensive (fire, theft, hail, raccoon?)
* Medical compensation for your injuries and those of your passengers * Uninsured driver coverage
* Sometimes tools or cargo
either required or optional. It depends. more expensive than personal vehicles. It makes sense: more driving equals more risk.
Range of prices? everywhere. An old dent? The quote is extremely high. A spotless record? Great bargain. Sometimes insurance math is unfair.
Cost-influencing factors:
* The type of vehicle (box truck = $$$)
* Usage * Miles traveled each day * Driver history (relative Todd with fines = nay) * Limitations of coverage
I occasionally transfer providers in order to compare. Fleet savings if you have more than one car = bonus.
Advice: know what you’re insuring. Really. Don’t only check boxes on the internet. Give an agent a call. Pose silly queries. Yes, I did. broken down distance, tools, and van use. prevented me from getting headaches.
Combining business and auto insurance results in savings of about 15%. When you work for yourself, every dollar matters.
Error: when I modified van use, I neglected to update the policy. Local travel -> gigs outside of the state. One restriction: unless otherwise stated, coverage is not extended beyond 250 miles. Crazy.
Not glitzy. No posts on Instagram. However, insurance protects you against accidents, thefts, and malfunctions. Calm? Priceless. Improve your quality of sleep (except from that transmission nightmare).
Imagine losing your car tomorrow. How much would it cost to replace it? How much does it cost to halt work? At that point, commercial auto insurance becomes worthwhile.
Get in touch with InsureDirect
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(800) 807-0762, extension 602