Did you know you can insure your business vehicles for both commercial and personal use? Owners and employees can use the vehicles on the job, and then drive home or use them after hours under the same policy.
Bear in mind, that the reverse may not be true. Your personal auto insurance may exclude damages or liability in certain work conditions.
A commercial auto policy will include numerous other benefits including coverage for:
1. Injuries and accidents when transporting people or materials for work
2. Property damage caused while operating the vehicle on a work site
3. Physical damage to the vehicle due to work conditions or natural
4. Replacement of the vehicle following its theft
Illinois law requires the same minimum insurance coverage for work vehicles as for personal autos,
Bodily injury — $20,000 for one person in an accident and at least $40,000 for all people in a single accident
Property damage — up to $15,000 per accident
In order to make sure you have full coverage, you’ll want to consider the cost of the vehicles, the losses your businesses might suffer without them, and the financial assets put at risk if your insurance is not sufficient. An independent insurance agent can help you review your options and make sure you have enough coverage.
To learn more about commercial vehicle insurance in Worth, IL and the southwest suburbs, contact Reta Insurance Agency.