Commercial vehicle insurance VS personal vehicle insurance- which is better?
It is often very difficult and confusing to determine how much or the kind of insurance you need. You definitely will agree that car insurance is very important for individuals and businesses.
In the event of an accident, an insurance company is going to give the affected party compensation that will cover the damages incurred. But this is only going to happen if your vehicle is insured.
Know the differences between commercial and personal vehicle insurance is not only going to help you choose between them, it is also going to help you determine the one that will suit your needs.
Of course, there are a lot of similarities between them especially in the type of protection they offer. But there are also key differences between them when it comes to policies and how well they can protect your business.
If you find yourself needing commercial vehicle insurance, do consider Allegiance Associates. They cover a wide range of insurance not only for vehicle, but for personal and corporate. You should check out their site here today: https://www.allegiance.com.sg/commercial-insurance/commercial-vehicle-insurance
The following article by progressivecommercial shed light on some differences between commercial and personal auto insurance.
Commercial vs personal auto insurance
Figuring out what kind of insurance – and how much – you need can be confusing. Use the following resources to help you decide whether personal auto insurance or commercial auto insurance is right for you. Here are some things to consider when deciding what kind of insurance policy you need. Read more here.
You likely now know the differences between personal and commercial vehicle insurance. If you own a small business, you are likely going to wonder if personal vehicle insurance will be able to protect your business. Most of the time, the nature of your business will determine the type of insurance you should get. If you don’t run many business errands or you carry out most of your business activities at a particular location, then you should consider getting personal vehicle insurance.
The following article by pscinsurance will help you determine if personal vehicle insurance will be able to protect your business.
Is personal vehicle insurance adequate to protect your small business?
Having finished the weekly shopping, you’re backing out of your car park in your business car, which is only covered by personal car insurance. In a moment of distraction, you continue to back out, only to hear the crunch as your car connects with a parked Holden. A minute later you’re calling the insurance company, however, they have only bad news. Your personal vehicle insurance won’t cover the accident to your business car. Read more here
You probably now know some important things about personal insurance. But do you know that there is a thin line between personal and commercial auto insurance? Many business owners have a false notion that personal and commercial vehicle insurance is the same. Well, this is not entirely true. Of course, they cover the same type of damage (accident) but their policies are not the same. If you know the thin line between these two, you will be able to determine the one that will suit your needs.
The following article by Alex Glenn unveils that thin line between personal and commercial auto insurance.
The thin line between personal and commercial auto insurance
If you don’t operate a fleet of business vehicles — or run a business at all — you may never have given commercial auto insurance a thought. But it’s possible you may need a commercial policy even if you don’t fall into these categories, particularly if you use your own vehicle for work purposes other than commuting. To help you avoid confusion, we’ll explain when shopping for commercial auto coverage makes more sense than getting personal car insurance quotes. Read more here.
You likely now know the differences as well as the similarities between personal and commercial vehicle insurance. That said, you need to have it at the back of your mind that you don’t need have fleets of vehicles you use to run your business before buying commercial vehicle insurance. If you use your personal car to carry out business activities on a regular basis, then you should consider getting commercial vehicle insurance.
Final note
It is often a challenge to determine if personal vehicle insurance or commercial vehicle insurance will suit your needs. You are definitely going to agree that insuring a vehicle is important. But understanding the differences between personal and commercial insurance will help you determine the one that you needs.
Small business owners often wonder if personal vehicle insurance is right for them. They often find out the hard way that getting commercial vehicle insurance is better since they are going to be running a lot of business errands.
Surely, there is a thin line between personal and commercial insurance. They both cover the same type of risk (accident) but their policies are somewhat different.