The difference between personal and business auto insurance is basically who owns the car. If your company owns a car, then it should be covered by personal auto insurance. Commercial auto insurance only covers incidents that happen when you or your staff are using a business car. It’s a good idea to have both kinds of coverage so that you are adequately protected in the event of an accident. Personal and commercial insurance are not the same thing; however, they do fall under the same umbrella. If you purchase personal auto insurance and use that coverage in the event of an accident with a company car, then it will not be covered under business auto insurance.
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Every state requires that personal auto insurance cover collision on one vehicle and damage to another vehicle that occurs in an accident. However, the states also require that personal auto insurance to provide additional coverage for uninsured motorists. This means that your company will be responsible for costs incurred due to an uninsured driver. States also require that personal auto insurance provides coverage for medical payments and any other expenses that are incurred as a result of an accident. In most states, personal auto insurance also requires companies to pay if the insured party is at fault but no one else is injured or killed in the accident.
When you compare auto policies, you may want to include all of these types of coverage so that you have all of the protection that you need. Although most personal vehicles are relatively inexpensive, it still pays to shop around to find the best rates on these types of vehicles. For example, if you own for personal vehicles and each of them has a different age, value, and sex, you will have to pay significantly more for coverage than someone who drives just two vehicles. In addition, if you have an older vehicle, then you may want to consider an older vehicle age-group policy. These policies will cost you less money overall than a newer vehicle would. However, you should check with each company to determine what they will not cover.
Other items to add to a personal auto insurance policy include rental car reimbursement, physical damage coverage, and roadside assistance. If you are involved in an accident, the last thing that you will want is to have to worry about paying for someone to come tow your vehicle to a shop. Having this type of coverage can help to ease your mind about having to pay to get your car back and get on the road again.
If you use your personal vehicle for business purposes, then you should not purchase a personal auto policy. Most business personal auto policies do not provide coverage if you use your personal vehicle for personal driving purposes. Instead, you should look into a commercial vehicle policy. These types of policies are much more affordable than personal auto policies and they provide coverage for business vehicles as well. They do not limit the amount of coverage that you have, but they do limit the type of coverage that you have.
You need to carefully consider which type of policy you need before choosing the one that will give you the best value. There are many different types of personal auto insurance available on the market today. In order to make sure that you are making the right choice, you should take the time to compare different policies online. Look for a site that will allow you to make an application to receive quotes from several different companies. This will allow you to get a good idea of the price range for a commercial auto insurance policy.