Are you in the market for a personal auto insurance policy? Personal auto insurance is more than just a way to protect yourself and others if you’re in an accident. If you’re thinking about purchasing this type of insurance, there are a few things you need to know before you start shopping around for it.
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The answer largely depends on what types of cars you own and how often you use them in your daily course of business. Commercial car and personal auto insurance both have plenty of similarities in regards to the basic forms of coverage they provide. However, each also provides their own particular set of benefits in the event that you or another driver is at fault in an accident. Commercial insurance is often sold as a package deal, so if you purchase it in conjunction with another driver’s policy, you can get the most protection for a price that is right for you. On the other hand, personal auto insurance is typically purchased separately for each driver and is designed to provide the minimum amount of financial protection. This might include bodily injury and property damage coverage, but it typically does not include coverage for any medical costs or lost wages that result from an accident.
Another difference between personal auto insurance and a commercial policy is the manner in which the insurance is issued. When you buy a personal auto policy, the insurance company does not ask you for permission to use your personal logo or image when promoting your business. When you buy commercial auto insurance, you are instead given a decal or sticker to place on your vehicle that says something to the effect of “Caution! Business Name Or Company” and to keep the car properly maintained so that it is legally able to serve its purpose.
Another important difference between the two is the amount of financial protection provided. A personal auto policy generally provides coverage for bodily injury and property damage, but does not usually provide any financial protection beyond those bare minimums. A commercial auto policy will usually provide coverage for bodily injury and property damage, but does not usually provide any coverage for an uninsured motorist or a driver of a commercial vehicle that is considered a “hit-and-run” driver. An uninsured motorist policy is designed to provide any protection for the driver of a vehicle that is not damaged or stolen and has no insurance or proof of financial responsibility to provide coverage. Finally, a hit-and-run driver policy provides financial protection for drivers that are at fault in an accident with another motorist. However, an uninsured motorist policy does not provide any monetary protection if a driver is at fault and has no proof of financial responsibility to provide coverage.
When comparing car insurance rates online, be sure to compare the different types of coverage available and then choose the one that best meets your needs. Be sure to check into the deductibles and the limits of the various policies as well as the level of coverage provided. Also consider the level of customer service that you receive from the company you purchase the commercial auto policy through. The reputation of major insurers such as Allstate, GEICO, etc.