How to Determine Commercial Auto Insurance Needs

Determine what you will be using your commercial vehicles for and who will be using them. If you are the only driver, your policy may be quite different than if you have employees that need to be insured as well.

Discuss your current policy with your insurance agent and see what changes are recommended. If you are converting a personal-use policy into a commercial policy, there may only be a small number of changes. A new commercial auto insurance policy may require a bit of learning on your part. Make sure you understand the different types of coverage.

Question how the policy will handle you may use the different types of vehicles, such as autos, pickups, vans and trucks, including non-owned and rented vehicles.

Find out the amounts of coverage that you need based the way your vehicles will be used. Often, a commercial auto insurance policy has higher liability limits, but has no coverage in other areas that are not considered commercial auto risks. Ask if you will need special coverage for certain situations that might occur while conducting business, such as hired and non-owned auto coverage.

Review the coverage that your insurance agent recommends and use that information to shop around. It is a good idea to get quotes from multiple companies to make sure you get the best coverage at the best rates. Asking a variety of agents and companies questions may help clarify what you are purchasing and what you really need.

Purchase or upgrade your commercial auto insurance policy. Having done the research to ensure that your policy is right for you will help you relax and get on with running your business.