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If you own a business that requires use of a company vehicle or use your personal vehicle for business purposes, make sure you are covered with commercial auto insurance. This includes driving for ride share programs (Uber, Lyft), completing your deliveries, driving between construction sites or transporting passengers.
What Is Commercial Auto Insurance and Why Do I Need It?
Commercial vehicle insurance is designed to cover any commercial usage of your vehicle. If you use your vehicle for business needs rather than your personal needs you may need business vehicle insurance for your auto. We always recommend speaking to your Champlain Insurance broker to check whether commercial insurance is required for you. Not having a commercial policy when you need one leaves yourself vulnerable to risk.
Here are some important coverage components that a commercial auto insurance policy may include:
- Liability coverage
- Personal injury or medical
- Comprehensive coverage
- Collision coverage
- Injury to you, your employed drivers or passengers
- Loading and unloading liability
- Replacement vehicle coverage
Your business is unique to you and so specialized coverage should be applied for your individual needs. For example, if you own many vehicles for business purposes, a commercial fleet policy can be implemented to cover multiple commercial vehicles.
In the majority of cases, if you use your vehicle for any of the following reasons, you likely require commercial auto insurance coverage:
- You transport or deliver goods, materials or merchandise
- You transport equipment or tools
- Your vehicle is used for driver training
- You transport customers for any reason
Do I Need Commercial Auto Insurance or Personal Auto Insurance?
One of the most frequent questions we get asked is ‘do I need commercial auto insurance or is it covered under my personal auto insurance?’. The primary difference between commercial vehicle insurance and personal auto insurance is that commercial vehicle insurance has more specialized coverage for multiple drivers and tends to have higher liability coverage limits. Some types of business use may indeed be covered under your personal car insurance but unless you are an insurance specialist, don’t make this decision on your own.
Here are some of the reasons you may need to get commercial auto insurance on your vehicle:
- You use your vehicle for business purposes
- Your vehicle is registered for commercial use
- You use your vehicle for driver training
- You are a taxi service (including Uber or Lyft)
- Your employees use their vehicles for your business
- You use your business to drive between constructions sites (if you are a contractor for example)
- You make deliveries using the vehicle
If your business is not included on this list, don’t assume you don’t need commercial auto insurance coverage. A quick phone call to a Champlain Insurance Broker will be able to answer this question for you.
Does Commercial Auto Insurance Cover Uber Ridesharing?
The taxi industry is changing and ride share apps have become more frequently used. If you’re looking to become a driver for Uber or Lyft, make sure you have business vehicle insurance coverage. Our Champlain Insurance brokers work with companies who will be able to provide commercial coverage for your vehicle that your personal auto insurance typically won’t cover when you use your vehicle for ridesharing.
How Much Does Commercial Auto Insurance Cost?
The cost of commercial auto insurance varies. There are a number of factors that determine the cost of your commercial auto insurance premium. These include:
- Type & number of vehicles
- Employees’ driving records
- Amount of coverage
- Whether you own or lease the vehicle
Our brokers understand that you want to ensure you are getting the best price for the coverage you need. We will take the time to understand what coverage you need and also advise you of any discounts and savings available. These may include:
- Multi-policy discounts
- Telematics discounts
- Winter tire discounts
- Anti-theft device discounts
- Claims free discounts
How Do I Get Commercial Auto Insurance with Champlain Insurance Brokers?
You can begin by filling out our online quote form for your company car insurance with Champlain Insurance. We will shop different commercial auto insurance companies on your behalf to find the most suitable insurance company offering the coverage you need at the best possible price we can find.