How Do I Know if I Need Business Auto Insurance?
If you operate a business with a lot of vehicles, it is imperative that you get business auto insurance so you are covered in the case of an accident. Let's say you owned a plumbing company. Chances are you have a lot of vans under your control that are constantly in the field driving from customer to customer. If one of those vans runs into another car on the freeway on the way to call, you would be protected if you have business auto insurance.
If you didn't have auto insurance for your vans, it could be a disastrous situation. If someone were to get seriuosly hurt in an accident you could get sued for a lot of money and it my bankrupt your company. It's not just other people that you need to worry about, it's also your own employees, if they were to get in an accident you would owe a lot of money and damages.
Often when you get set up with this type of insurance, you pay monthly premiums depending on the level of coverage you choose. Typcially the more vehicles you insure, the lower your monthly rate that you pay. If you want 1 million dollars of coverage against accidental death, that may cost extra, but is usually included in a standard offering. Sometimes you get discounts for paying the entire yearly amount off up front instead of paying it month to month. If you pay it month to month the insurance company will most likely tack on interest charges of 7-10% and you will end up paying much more over the life of the policy.
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