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 would-be issues before they arise. This can be an exciting and invigorating way to exist, but it can also expose you to many risks that are easily covered if you invest in the right type of insurance coverage for your company.
Commercial auto insurance is one of the kinds of insurance policies that can offer your business security, but it’s often ignored by business owners who underrate the amount of danger they face by carrying the wrong kind of car insurance for the business use of their car.
If any of your client’s property ever enters your automobile, then you could be facing some major potential liabilities. Not only could a mishap or theft result in the loss of the client’s belongings 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 raise 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 decided upon date. This broadens the pool of what you can regard as your client’s assets and, as a result, increases your possible liability.
If you send an employee out on a task for your business or have them transporting your customer’s property in their vehicle, and they have an mishap during this business-related travel, you are responsible 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 advantage to not purchasing the right type of insurance for your vehicle and business. Commercial auto insurance is an inexpensive way to defend your business assets and guarantee the continuation of your company. Without it, you could lose your business and your livelihood after just one uncovered accident.
For more information about Kankakee business insurance or for a commercial auto insurance quote call us at 815-468-8763.