Imagine this scenario; you allow an employee to drive your truck to a job site, and on the way he strikes and injures a pedestrian. The pedestrian is now looking to sue you personally, and the business. Now what? Who is going to pay? Your personal auto policy could deny the claim since the employee was driving for business purposes. Now your personal assets could be at risk as these claims can get quite costly considering the cost of medical care continues to rise, and defense costs can add up quickly.
Can’t you just add incidental business use to your personal auto policy? In some cases yes, but some business operations are not eligible for this. If your auto is being used for more than just driving to work you may need a business auto policy.
If you are not sure if you need a business auto policy, call your insurance advisor and let them know how the vehicle is titled to and how it is being used. It is better to be safe than sorry.
If the vehicle is titled to you personally but used for the business, you may need to develop a lease agreement between you and the business. This will help avoid any issues if a claim arises. Here at VAST we want to help you get it right! No one wants to find out at the time of loss that they don’t have the proper coverage.