Personal Or Commercial Car Insurance: Which Is Right For You?

Personal Or Commercial Car Insurance: Which Is Right For You?

(NAPS)—If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy.

You’ll need to consider buying a commercial policy or making sure that your existing personal auto policy covers the vehicle for business use. Whether or not you need a commercial policy depends on how you use your vehicle and what company you have it insured with. Every company has different guidelines and may surcharge for business-use coverage on a personal auto policy.

If you’re not sure whether business use is covered on your personal policy, it’s important to call your insurance company or agent. The Progressive Group of Insurance Companies has put together these four questions you may want to ask:

§         How do companies determine commercial use? One definition could include “engaging in transporting goods for compensation or a fee,” which includes pizza or newspaper delivery, catering, door-to-door consulting services, landscaping or snowplowing services, logging business, day care/church van services or farm-to-market delivery. People who do these kinds of work should consider purchasing a commercial vehicle policy.

§         Do you need more liability coverage than a personal auto policy provides? Generally, a commercial auto policy offers higher limits of liability, but less or no coverage in areas that are typically not associated with commercial auto risks.

§         Do you need special coverage for situations encountered while conducting business? Commercial auto policies usually offer these coverages, and they’re normally not available with personal auto policies. These include hired and nonowned auto coverage and coverage for towing a trailer for business use.

§         Do you need to list any employees as drivers? Commercial auto policies allow you to list anyone that you employ. You don’t have that option with a personal auto policy. In general, you’ll need commercial auto coverage if the vehicle you use is owned by a corporate partnership or driven by employees, or if it’s used to haul tools or equipment weighing more than 500 pounds, make deliveries or heavy enough to require state or federal filings.

For more information about commercial auto insurance, visit progressiveagent.com. www.carlisleinsagency.com

 

Did You Know?

If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy. For more information about commercial auto insurance, visit progressiveagent.com.

Finding A Commercial Auto Insurance Company

Insurance Matters

Finding A Commercial Auto Insurance Company

(NAPS)—For many business owners, the road to success cannot be driven without company vehicles. They are a key component of the business’ continued operations and are essential to the company’s livelihood.

And just as you’d never consider going on a job without all the necessary tools of your trade, you should never consider driving your business vehicle without the right insurance coverage. But finding the right commercial auto insurance company can be a tricky proposition. There are lots of companies offering commercial auto coverage, so it’s important that you select one that meets the needs of your business.

Of all the factors you’ll want to take into account, the company’s experience with commercial auto insurance and claims service will have the biggest impact on you and your business. Here are some questions to ask yourself as you consider different commercial auto insurance companies:

                        Do they have experience with your business type? How long has the company offered commercial auto coverages? Do they understand the insurance needs that are unique to your line of work? A carrier with commercial auto expertise ensures that you’ll get the right coverage for your business.

                        Do they excel in customer service? You need 24/7 service that is fast, accurate and focused on your bottom line. You also need the convenience of being able to handle your insurance business

on nights and weekends, because you can’t count on having the time to deal with such matters during regular business hours.

                        Do they offer flexible, competitive products? Pay­ment options? Insurance rates can vary a great deal from company to company, so you’ll want to compare. You want flexibility in the types of coverages—and also payment options. Monthly bill plans can help small-business owners maintain necessary cash flow.

                        Do they have a demon­strated record of claims expe­rience? Keeping vehicle down-time to a minimum is vital to any business. Each minute a vehicle is out of commission affects your bot-tom line. Look for a company that’s known for efficient claims service and fast, fair resolution.

To learn more about commercial auto insurance or to find an independent agent, visit the Web site at progressiveagent.com. www.carlisleinsagency.com

The Risk Of Flooding Is Real

PERSONAL INSURANCE

The Risk Of Flooding Is Real; Don’t Gamble Anymore

     A recent survey of a Vermont town affected by the recent Northeast flooding found that 80% of the people suffering a flood loss did not have the funds to repair all of the damage they received.  Between 2001 and 2010 the average loss paid by the National Flood Insurance Program (NFIP) was $48,000. 

 

     Because most homeowners policies do not cover flood losses, would the average flood loss—or even a smaller flood loss— cause you a significant financial burden?  If so, a flood insurance policy can help.  A flood insurance policy can provide up to $250,000 in structure coverage and up to $100,000 in contents coverage for homeowners.   Renters can purchase up to $100,000 in contents coverage.

 

     You can buy flood insurance no matter what your flood risk.  Almost anyone in a community that participates in the NFIP can purchase coverage.  There are very few exceptions. 

     You do not need to live near water to be flooded.  Many people affected by flooding live miles from the nearest river or ocean.  Floods are caused not only by storms and hurricanes, but also snowmelt, inadequate and overloaded drainage systems and even broken municipal water mains.

     Flood insurance is affordable.  Homeowners in low-risk areas can purchase $20,000 in building and $8,000 in contents coverage for as little as $129 a year.  Even a small amount of flood insurance can help reduce the burden of a potential flood loss.

   

     Do you think a flood can’t happen to you?  That’s what the people in the Vermont survey thought.  They gambled and lost.  Some of them may never recover.   Don’t let that happen to you.  Please contact our office and we will be happy to discuss your flood insurance options.

Flood Insurance