Do small businesses need commercial insurance and commercial vehicle insurance?

Owning a small business requires balancing risks and rewards, and one way to reduce risk is to ensure your company is adequately insured. Unfortunately, some small business owners take a risk by incorrectly relying on their personal insurance coverage while using vehicles for business purposes. To avoid this and other commercial insurance mistakes, allow the Einstein Insurance team, serving the greater Portland, OR community, to create a commercial insurance plan, including commercial vehicle insurance, to meet your business’s needs.

Commercial Versus Commercial Vehicle Insurance

Commercial insurance protects firms of many shapes and sizes because businesses vary by industry, number of employees, and whether they use motor vehicles in conducting business. Prudent business owners recognize the need for Workers’ Compensation, General Liability, Commercial Property, and similar commercial insurance coverage but sometimes do not address their vehicle usage, believing their personal insurance policy provides coverage when using a personal vehicle for business purposes. However, only commercial vehicle policies cover vehicles:

-Used to transport goods, tools, or people for work-related purposes

-Owned by the company or driven for work purposes

This failure to acquire the correct coverage is especially problematic if employees use personal vehicles for work purposes.

Regardless of your business, take the time to think about your vehicle usage and consider talking with your agent to ensure you fully protect yourself, your employees, and your business. Don’t take the chance to learn after an accident that your personal policy did not provide adequate protection.

Working with Einstein Insurance

Einstein Insurance proudly serves the personal and business communities in the Portland, OR area. Let us help you build an insurance plan to protect your business and livelihood. Drop by or call us today to review your needs and options.