Covering Your Liabilities with Commercial Auto Insurance

Being a business owner is a lot like being a professional athlete in a competitive sport. Not only do you need to do that thing you do—and do it well, but you must also pay attention to everything going on around you and look out for potential problems before they occur. This can be an exciting and invigorating way to live, but it can also expose you to many risks that are easily covered if you invest in the right kind of insurance coverage for your company.

Commercial auto insurance is one of the types of insurance policies that can offer your business protection, but it’s often overlooked by business owners who underestimate the amount of risk they face by carrying the wrong kind of car insurance for the business use of their vehicle.

Customer-related Liabilities
If any of your client’s property ever enters your vehicle, then you could be facing some major potential liabilities.  Not only could an accident or theft result in the loss of the client’s property and value, but depending on the nature of the property, that loss could lead to negative impacts on your client’s business or personal life, which would increase your liability. 

And your ‘customer’s property’ doesn’t just mean items that they hand over to you for your care or repair, it can also mean deliverables that your customer paid you for and expected you to deliver by an agreed upon date. This broadens the pool of what you can consider your client’s property and, as a result, increases your potential liability.

Employee Liabilities
If you send an employee out on an errand for your business or have them carrying your customer’s property in their vehicle, and they have an accident during this business-related travel, you are liable for their injuries and damage to their vehicle. If you have commercial auto insurance, then the claim can be put through your auto policy. If not, your business could lose money settling its responsibility.

There is no benefit to not buying the right kind of insurance for your car and business. Commercial auto insurance is an affordable way to protect your business assets and ensure the continuation of your company. Without it, you could lose your business and your livelihood after just one uncovered accident. Contact us today to discuss your options for South Carolina Business Auto Insurance at (864) 269-6860.