While some small business owners are tempted to rely on the personal auto policy they have, instead of purchasing Business Auto Insurance in Oklahoma City OK for the vehicles they use primarily for business, this may not be the best idea. For example, personal insurance will not cover activities for business-related activities. When you use a vehicle for business purposes, it is essential that you purchase a commercial policy to ensure it is protected.
Personal versus Commercial Auto Insurance
Business Auto Insurance in Oklahoma City OK will offer coverage for all business-related driving you do, which is essential since personal auto insurance will not always cover accidents that occur while driving for business. A commercial auto insurance policy will offer higher levels of liability than personal policies, as well.
If you have employees who drive vehicles you own for business purposes on a regular basis, the commercial policy you purchase will allow you to add their name to the actual policy to extend your coverage to cover them, as well. You can also cover their personal vehicles if they use it for business driving.
Determining Rates for Commercial Auto Insurance
There are a number of factors that commercial auto insurance rates are based on:
* How likely you are to file a claim in addition to the potential cost of the claim.
* The employees driving records. Generally speaking, a good driving record will translate into much lower premiums.
* The location of your business. If you are in the middle of a big city, where heavy traffic is common, you will pay more than if you are in a remote suburb.
* How frequently the vehicles are used. If you use the vehicle to make deliveries and sales daily, then the rate is going to be higher than what you would pay for a vehicle you only use occasionally.
If you want more information about business auto insurance, navigate to this website. You will find all the information you need to purchase the coverage that your business requires for protection. Without this coverage, you may find you are liable for any accident or injury that occurs.
