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Commercial Insurance is a Must-Have for Professional Drivers: Especially Because of These 3 Reasons

12 Aug
Commercial Insurance is a Must-Have for Professional Drivers: Especially Because of These 3 Reasons

Commercial Insurance is a Must-Have for Professional Drivers: Especially Because of These 3 Reasons

Commercial Insurance is a Must-Have for Professional Drivers: Especially Because of These 3 Reasons

If you rely on vehicles to earn a living in any way, it’s best to make sure you have Commercial Auto Insurance. Whether you drive a vehicle to make money in the gig economy, or whether you own a fleet of cars to provide specialized services, commercial insurance facilitates coverage which is specific to the unique needs of heavily-used automobiles.  

Business Necessitates Special Coverage:

Small Business Finance Specialist Priyanka Prakash explains that, “Commercial auto insurance is a type of insurance that can pay to repair damages to your vehicle, or other vehicles, when you’re involved in an accident. Not only is commercial auto coverage helpful, but it is also legally required in nearly every state except New Hampshire and Virginia.” Here are a few instrumental reasons why commercial auto insurance is essential:  

1.    Professional Use of Vehicles Voids Personal Auto Coverage:

The moment someone uses a vehicle for professional purposes, a wide range of safety rules/regulations come into play.  The only way to comply with labor laws once a vehicle has been capitalized is by purchasing commercial insurance.  

2.    Commercial Insurance is Tax-Deductible:

Commercial insurance qualifies as a business expense.  And business expenses are tax-deductible for entrepreneurs.  Even though spending extra money on insurance places a strain on budgets, all of these costs can be offset when the time comes to file taxes.  

3.    Expanded Liability Protection:

Personal auto insurance is usually configured to protect individual motorists.  On the other hand, commercial insurance is configured to protect third parties involved in certain accidents.  If an underinsured driver finds themselves liable for damage caused by professional driving, their out-of-pocket costs can become astronomical.  

Conclusion:

When purchasing commercial auto insurance, always get both liability, and property-damage protection for your assets. Additional protections may be available to customers, but these two provisions are vital. Commercial insurance can protect any vehicle used for business purposes. This includes cars, trucks, vans, tractors, and many more. For more information, visit our website or give us a call at 1-800-639-7654 to find out how Adriana’s Insurance Services can help you stay safe. We got you covered!