Monthly Archives: April 2021

Do You Need Auto Insurance for Your Business?

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As a business owner, you should know that almost every state requires commercial auto insurance if there are business-owned vehicles and employees that operate them. You won’t legally have a choice in the matter if this is your s situation. Our team at the Insurance Center of Green Valley, AZ understands this and is here to help business owners navigate commercial insurance requirements as well as any coverage they may need to safely run their business. 

It’s the Law…for the Most Part
Most states require businesses to purchase commercial insurance if there are cars that fall under the company name, or owned by the company. Also, company vehicles that are used by employees to transport clients and equipment, and drive to job sites require commercial insurance coverage. Personal car insurance is generally not designed to cover commercial or business needs if those terms aren’t stated in the policy. This is significant because involvement in a job-related car accident could invalidate your personal insurance policy. 

Why Personal Car Insurance May Not Cover Commercial Use
Many personal insurance policies have an exclusion that clearly declares that there’s no coverage for personal vehicles that are used for business purposes. This is one of the many reasons why it’s important to purchase a policy that is designed for the specific use of a vehicle. The right insurance coverage will protect both you and your employees legally and serve the purpose of the vehicle more accurately. Where your personal auto insurance policy would fall short, a commercial insurance policy would provide more coverage for a vehicle used for commercial purposes. 

Other Considerations
Personal auto insurance is less costly than business insurance. A car used for commercial purposes is more than likely more frequently driven, hence, more prone to accidents and liability, particularly if you are transporting clients or business equipment. The increased risk usually translates into higher costs. If you have questions regarding whether or not you need commercial auto insurance, give us a call. We’re here to help.

Is commercial insurance needed in Arizona?

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When you are looking for a fun and exciting career, being a business owner can be a good decision to consider. There continues to be a lot of opportunity for success for business owners, particularly if you open one in the Green Valley, AZ area. When you are going to start a company here, it is important that you protect and secure it with insurance. Arizona businesses need commercial insurance for a few different reasons.

Insurance is a Requirement for Many Businesses

One reason that you should get a commercial insurance plan for your Arizona business is that it is often a requirement for business owners here to maintain this coverage. If you have taken out a business loan or raised outside capital, having commercial insurance is required. This insurance protection will ensure that the business assets are covered and that the lender or investor’s investment is protected against a variety of losses.

Insurance Protects Business

Even if you do not have commercial insurance requirements, having coverage is a good idea. A business that has commercial coverage will be protected against the risks of asset loss and liability claims. As both of these situations could be detrimental to your company and threaten future viability, your insurance policy could help to keep your organization fiscally healthy in tough times. 

Those that would like to start a small company in the Green Valley, AZ area should consider reaching out to the Insurance Center of Green Valley. Those that choose to contact the Insurance Center of Green Valley will find that the team offers a lot of resources that can help you choose a new plan. When you do call them, they will offer personalized guidance that will help any business choose a plan that offers ideal insurance protection.