Understanding when there should be an auto insurance for your personal vehicle is actually an easy thing. Yes, you will need one, when the law makes it compulsory and when you wish to protect your loved ones. However, understanding when will you need a commercial auto insurance in Tampa is a different subject. The important point you should remember here is that there are some kinds of vehicle usage that are not covered under a personal auto insurance. If you are running a business and are planning to use a vehicle solely for your business alone, you should have a commercial vehicle coverage for this automobile. In addition, if your car has commercial tag in it, it is important that you will have to get a commercial coverage for the same.
When you are thinking about the type of coverage that will be ideal for your commercial vehicle, here are points you should understand:
Registration: The first and foremost factor to consider is the name under which the automobile is registered. If the vehicle is registered under your business name, you should surely have a commercial auto policy for it. On the other hand, if it is in your name, it does not mean that a personal auto coverage is enough. This is because, in most of the cases, a solely owned vehicle would have been registered in the name of the business owner only and not on the name of the business. The point to remember here is that if the vehicle is going to be solely used for your business, it becomes important that you will have to take commercial auto insurance Tampa for it.
Who drives? Another indicator that shows that you need a commercial coverage for the automobile is whether the other employees in your company will be running the vehicle. Generally, you will be required to submit a list of people, who may be running the automobile. This will help the insurance company to properly underwrite the risk on the vehicle.
Business use: The next question that you should ask for yourself is whether the car/bike gets regular business use. When a vehicle is used for more than 3 times in a month for commercial purposes, it should be covered under a commercial coverage policy. The insurance company will ask you about the purpose for which the automobile will be used, whether for carrying devices, carrying inflammable material or for any other purpose, to decide on the premium they will be charging.
When you are thinking about the type of coverage that will be ideal for your commercial vehicle, here are points you should understand:
Registration: The first and foremost factor to consider is the name under which the automobile is registered. If the vehicle is registered under your business name, you should surely have a commercial auto policy for it. On the other hand, if it is in your name, it does not mean that a personal auto coverage is enough. This is because, in most of the cases, a solely owned vehicle would have been registered in the name of the business owner only and not on the name of the business. The point to remember here is that if the vehicle is going to be solely used for your business, it becomes important that you will have to take commercial auto insurance Tampa for it.
Who drives? Another indicator that shows that you need a commercial coverage for the automobile is whether the other employees in your company will be running the vehicle. Generally, you will be required to submit a list of people, who may be running the automobile. This will help the insurance company to properly underwrite the risk on the vehicle.
Business use: The next question that you should ask for yourself is whether the car/bike gets regular business use. When a vehicle is used for more than 3 times in a month for commercial purposes, it should be covered under a commercial coverage policy. The insurance company will ask you about the purpose for which the automobile will be used, whether for carrying devices, carrying inflammable material or for any other purpose, to decide on the premium they will be charging.
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