Personal vs Commercial Auto Insurance, Confusion is normal if you’re a first-time car insurance buyer. To avoid, you should know the types of auto insurance coverage. Two of its most common types are personal and commercial auto insurance coverage. The key to a wise purchase lies on your ability to select the type of auto insurance you will use based on your needs or purpose.
Personal car insurance is suited to those individuals who often utilize their vehicle for the purpose of going to work, shopping for groceries, taking your kids to school and other personal and non-business matters. On the other hand, commercial auto insurance involves the use of public vehicles like taxis, limousines, vans and other vehicles in carrying out passengers for hire. This also applies if the employees of that company use the vehicle while on their respective duties.
What If I’m driving my own car for a company business?
For those who are involved in the transportation of goods and field sales, you need to clarify if your company covers personal auto insurance for their employees. According to a Memphis car insurance agency, if employer does not have commercial policies that protect their employees while driving, you may have to make a claim thru your personal insurance policy. If your employer has you covered, make sure that you are aware of the process you will work on in the event of an accident.
Commercial Auto Insurance vs. Personal Auto Insurance
Auto Insurance generally differs from the specific policies it carries. Commercial auto insurance is more comprehensive than personal car insurance because it focuses more on a business owner’s exposure on the road while using the company vehicle. Liability is also compulsory but the minimum limits are much higher than those who own personal auto insurance.
Coverage like property damage, bodily injury, no-fault no collision, comprehensive and uninsured / underinsured motorist protection, medical expenses and others are basic risks that a commercial policy has and they are also stipulated on a conventional auto insurance policy.
Choosing the Best Auto Insurance Policy
Whether it’s for commercial or personal coverage, choosing for the best auto insurance quote can be very tricky. If you really looking for the best deal, consulting an experienced, reliable and trustworthy car insurance company like Kellet Insurance Agency, a premier auto insurance company in Memphis is a must so you will be prepared for the risks involved with liabilities in case of being involved in a vehicular accident.