Many people think that arranging auto insurance is a complicated task. Therefore, they may think that insuring a fleet of company vehicles will be too tricky to even tackle. Considering the coverage requests will be similar, the only thing you need to overcome is the overall arrangement. Take the company needs into account instead of individual preferences.
Personal Auto Insurance
Most cars are bought for personal use such as going to work, traveling for essential needs and pleasure. Usually, they have one or two drivers and mostly they are family members or life partners. They are not advertised for gainful activities and kept at home when they are not being driven around.
Insuring for any damages and injuries you may cause to third parties is mandatory in the United States of America before you can legally drive a vehicle. This requirement applies to every vehicle regardless of the purpose and ownership. Furthermore, every driver must be covered one way or another before they can use cars owned individually or by employers.
Commercial Vehicle Insurance
An automobile policy bought for personal use does not cover business activities. For example, you cannot start carrying paid passengers in your private car or use it for your flower delivery business unless it is properly insured. In the same way, when you are using a company car it is for the purpose of making money for your employer. Therefore, it should be covered under an appropriate commercial policy.
Key Differences Between Business And Personal Policies
Essentially, both commercial and private policies will aim to protect for the same type of risks. However, the level of risk will be different depending on the commercial use of the autos. They will be driven by employees, not owners who care a bit more. Vehicles may be modified to carry the tasks better and they may vary in purpose. On the other hand, the type of cars for a family and where they might be used is pretty typical to work out.
Small business car insurance may only cover two or three cars. But a larger company will need to insure a fleet of vehicles. They may be the same type of cars, vans or trucks. In that case, it will be easier to have them covered with one multi-vehicle policy. However, it will be slightly trickier but you can insure all sorts of different vehicles under one commercial policy.
It is normally not a bother to buy off the shelf private auto insurance. There are many standard packages from various insurers to choose from. On the other hand, most sizeable commercial packages will need to be a custom policy to meet the needs of that organization properly. Those will be blanket coverage including many vehicles and drivers.
Essentially, you are not allowed to carry out any gainful activity or charge money for transporting goods and people in your private car. As soon as you do, you will have to include business usage. It may be possible to include this within a standard private cover when you are running a small trade and have only one car for both home and shop uses.
When a company car causes injuries and damages to other people, both the driver and the employer can be sued separately. Furthermore, companies will probably insure against the injuries employees may suffer while driving for the business. Those aspects should be considered and appropriate additions and endorsements made in a commercial policy.
Otherwise, the considerations for the protection of the vehicles are the same. Both individuals and firms will want to insure against fire, theft, collision, weather and accidental damages. Majority of those requirements can be met by comprehensive and collision coverage.
Most automobile insurers will be able to handle custom packages of any size for any businesses. You can find them here at http://www.storybuildersbooks.com and discuss your requirements, get quotes and buy whatever type of policy you need.