Jessica Sautter is a Content Writer for CarInsuranceCompanies.com with a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Sep 9, 2020

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Key takeaways...

  • Business owners need to remember to ensure your business assets are protected and securing the right auto insurance coverage is a must
  • The amount of business car insurance available and types of coverage are based on a number of items including the car insurance companies in your area, the type of business, your driving record and those of your employees and more
  • There are many different types of plans to choose from and companies are more accommodating than ever to help business owners acquire auto insurance so with all the options available there is no reason you should risk driving without business car insurance coverage

Business owners are busy people with a lot of worries on their mind. While concentrating on growing your business and managing employees you also need to remember to ensure your business assets are protected and securing the right auto insurance coverage is a must.

Typical business car insurance policies provide both liability and comprehensive protection. Running a business with no insurance is a disaster waiting to happen.

At the very minimum, any business owner should secure an insurance policy that provides coverage for damage to other drivers and damage to company vehicles from a car accident, vandalism or even auto-theft.

The amount of business car insurance available and types of coverage are based on a number of items including the car insurance companies in your area, the type of business, your driving record and those of your employees and more.

Use our FREE quote tool to compare auto insurance rates today!

Table of Contents

Why You Need Business Car Insurance

Business car insurance is hard to quote an estimate on as its usually quite specific to the needs of your company.

Normally a deductible is decided upon at the time of the agreement. If damage occurs to the insured car, the business owner is responsible for the amount of the deductible.

Once that is satisfied, the insurance company will cover the costs of repairing the vehicle or replacing the vehicle, depending again on what was agreed upon when the contract was initiated.

There are varying degrees of business car insurance coverage that need to be considered as well.

If a business owner wants premium auto insurance coverage for their vehicle, then their business car insurance will warrant a higher rate to pay for those extra benefits.

If he or she desires basic coverage, then it will come at a lower cost. Not having business car insurance certainly carries a number of risks.

For instance, it is illegal in all fifty states to drive without car insurance therefore at the minimum a hefty fine could be levied however far greater repercussions of not carrying auto insurance coverage for your business exist.

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If an employee driving a company vehicle were to get into an accident while uninsured, any expenses the other party accrues will have to be paid out of pocket by you which could include property damage, medical expenses, legal fees and even punitive damages should someone sue and win.

Additionally, your company vehicle may be impounded in some states should the driver be stopped by the police and it is discovered they are driving without insurance this alone could cost your company thousands of dollars due to the loss of vehicle use.

When looking for the right business car insurance it is important to evaluate your needs. The first thing to determine is exactly how many cars you need to insure, and how much of an insurance premium you can afford.

If you have numerous vehicles in your fleet then you will want to consider companies that handle commercial or fleet insurance policies. If you have anywhere from one to a few, then your local business car insurance company should be able to assist you.

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How can I find a good business car insurance company?

Talk with other local business owners for recommendations. Try reaching out to companies yourself. As you speak to the different insurance agents, remember to ask about the things that are really important to you:

  • How much are the monthly car insurance premiums?
  • When are the payments due and what payment methods available?
  • Do they offer claims service 24/7 with available rental car service if needed?
  • Can I access policy information online?
  • How long does it take to assess damage and issue a claim?
  • How fast can I get a replacement vehicle?
  • Will I have full replacement coverage?

Business car insurance is necessary for any business owner.

There are many different types of plans to choose from and companies are more accommodating than ever to help business owners acquire auto insurance so with all the options available there is no reason you should risk driving without business car insurance coverage.

Get FREE business car insurance quotes using our quote tool below now!