Insuring the Vehicles That Drive Your BusinessAlthough a vehicle driven for business purposes typically needs the same insurance coverage as one driven for personal reasons (i.e., liability, collision, comprehensive, and medical payments), finding the appropriate insurance policy for your company vehicles could be a bit more complex than selecting one for a personal car. A personal car used incidentally for business may not need a commercial policy. A vehicle titled to your business probably will. An examination of your specific circumstances could help determine which type of coverage would be appropriate — or possibly required by law. Commercial auto insurance typically pays a benefit (up to the policy limits) if your company vehicle is damaged or stolen, and can help protect your company from liability claims if you or one of your employees causes damages and/or injuries while driving a company vehicle. It can also help pay medical expenses for your employees or other parties injured in an accident involving your company vehicle. There are many variables to consider when choosing a commercial policy.
Selecting the appropriate policy is a critical task with one vital goal: protecting not just your vehicle, but possibly the future of your business.
The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2020 Broadridge Investor Communication Solutions, Inc.
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