For most business owners, insurance is certainly a significant slice of the profit pie.  Most business owners realize that they need general liability coverage, professional liability, business property, and, in some cases, workers compensation.  But what about your automobile?

Using Your Personal Vehicle for Business

Most salespeople and entrepreneurs use their personal vehicle in the course of the day to day business life.  You know this is the vehicle that’s titled in your personal name that you take to the park, grocery store, and church on the weekends.  Do you have this vehicle covered to protect your assets during the week? When you’re traveling to clients’ houses, meeting up with prospective commercial clients, going to the post office, supply store, and, yes, even networking, are you sure you’re covered?  Have you discussed this with your agent? Does your agent even know what you do for a living and have they rated your policy appropriately? If you have answered yes to the previous two questions great, but if you have even a little doubt in your mind, read on.

Keep Your Insurance Carrier Informed

It is your responsibility to notify your agent or company if you are using your vehicle for anything but pleasure.  Pleasure meaning the running around you do on the weekends. If you’re driving your car back and forth to the office and staying stationary during the day they need to know.  If you’re out and about all day long tending you your business they need to know that as well. By informing your agent or company they can classify your vehicle properly and charge the appropriate premium.   But what happens if you don’t? It could mean the difference of whether your carrier covers your claim. If you have not provided them with pertinent information they have every legal right to deny your claim.  This could be mean the difference between having a successful business and losing everything you have, including future earnings.

Act Today Don’t Delay

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I would suggest that you check today.  Don’t assume that it’s been taking care of.  Usage will show on your declarations page. If you don’t see it, ask your agent.  I have been extremely surprised how many vehicles are not classified properly. It isn’t worth the few dollars you’re saving on premiums.