When it comes to protecting business vehicles, there are many factors to consider. If your operation owns its own business vehicles, you will have different risk exposures and NJ business vehicle insurance needs that an operation which relies on their employee’s to use their own vehicles for work activities. Many small business owners and employees often utilize their personally owned vehicles for business purposes mistakenly believing that the motorist’s own personal auto insurance will protect them in the event of an accident. However, when a vehicle is being used for work related functions, travel or other activities on a regular and reoccurring basis, the situation becomes more complex. The fact is, when a vehicle is being used for work purposes, NJ businesses can be held responsible for any losses, damages, or liability claims that surface in connection with a vehicle being used for your business purposes.
Protecting business owned vehicles is much more straight-forward than protecting your employee’s personal vehicles which they also use for work. A commercial or business vehicles policy should have the same coverage inclusions as any personal vehicle. These policies should include liability, collision, comprehensive, personal injury protection and coverage for uninsured motorists. When insuring business owned vehicles, the policy can be taken out through the company itself, naming the business as the “principle insured”. This will help avoid possible confusion in the event that you or an employee need to file a claim or a claim is filed against you.
Personal auto insurance policies will often provide coverage for some business use of non-business owned vehicle, however it is unlikely to provide enough coverage if the vehicle in question is used primarily in business. When employees are utilizing their own vehicles for business use it is important that the vehicles and drivers have sufficient liability coverage to protect your business in the event of a serious auto accident.
There is a lot to consider when looking to protect your operation from loss and liability exposures, but working with the right NJ insurance agency can help. At Vreeland Insurance, we work with our clients to identify their unique needs and exposures before crafting customized New Jersey business insurance solutions to meet those needs. Our NJ business vehicle insurance specialists can create a business auto insurance package tailored to the specific needs of your operation, including owned and non-owned vehicle coverage. To learn more about our NJ business vehicle insurance policies or any of our other business solutions, give us a call today at (877) 755-3767.