CSIS Insurance Services, Inc. Blog
It is a common point of confusion. When should we purchase a commercial auto insurance policy? What is the difference between it and a personal auto insurance policy? This is one of the most common questions regarding auto insurance. Is the coverage the same for both? What are the advantages for getting commercial auto insurance? The following will outline the difference for each.
What is commercial auto insurance?
A commercial auto insurance policy provides protection for any vehicle that is used for business. It can be a company vehicle or a personal vehicle used for that business. Depending on your policy, the following are what is most commonly covered by this policy.
What is the difference between commercial auto insurance and personal?
Although the coverage for both are very similar. Both having coverage as described above, the main differences lay in eligibility, exclusions, and limits.
Personal auto insurance policies are not meant for business, and there are certain uses that are excluded in its coverage. The terms and conditions of commercial insurance are written more in line for its use as a business unit. Limits are usually higher for a commercial policy as well due to the intended use of the vehicle.
When should we purchase it?
If you use your vehicle for the following purposes:
In summary, a commercial policy is required if the use of the vehicle is directly related to the business it is in. This can exclude your daily commute to and from your place of work.
What are the types of vehicles covered by this policy?
Vehicles that are insured are not limited to company cars. Either individual or a fleet of vehicles, the following are the common vehicles insured.
Knowing the right type of insurance policy required for each scenario can be confusing. However, there are many benefits to determining the right kind of policy for your needs. It is important to talk to your agent to better understand what type of coverage you actually need.
At CSIS Insurance Services, we aim to make our client’s life easier with policies that are tailored to their needs. You can get more information about our products and services by calling our agency at (888) 501-2747. Get your free quote today by CLICKING HERE.
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