Over the years I have reviewed several insurance policies. One of the most overlooked coverage is the Commercial Auto Coverage because people will assume that they have coverage under their personal auto policy (PAP). Several people today start their own businesses on the side besides their normal 9-5 job to either provide a better lifestyle or to get away from their current job. They are using their own personal vehicles in these businesses without reviewing their personal insurance coverage.
Most PAP policies are designed and rated to provide coverage for people that drive to and from work, 5 days per week, leaving their automobile parked outside that job for 8 hours and then go home. There are exclusions in the PAP and one of them is for business use. There is an endorsement that can be added that provides business use for professionals like attorney’s, insurance agents, and realtors who use their cars in their business. There is an extra charge for this and is not included under the normal policy. Continue reading “Commercial Auto Insurance…Do I really need it?”