If you own a business that requires you to have vehicles for it, such as a trucking company or a plumbing business, then you will be required to provide insurance coverage for them. Although your vehicle may not be used for commercial purposes, if it is titled to the company, you would still need commercial insurance. Here are some of the requirements for commercial insurance in North Carolina.
Insurance Coverage Requirements
Under the NC Financial Responsibility Laws, businesses must maintain liability coverage if they have vehicles titled to their company. The same liability limits that apply to consumer auto insurance apply to commercial insurance. However, you will probably need better coverage, especially if you are financing the vehicles. Fortunately, auto insurance consultants in Belmont, NC can help you get the coverage you need to protect your business.
Insurance Options
There are several insurance options for commercial businesses that you should consider. If you use your car for business purposes or have employees run errands for your business, auto insurance consultants may recommend a “Hired & Non-Owned” liability policy. Since your business could be liable for damages if the car being driven is in an at-fault accident, this policy would help cover those expenses.
Since liability policies do not cover the damage to your property, you should consider collision or comprehensive insurance coverage so you do not end up with out-of-pocket expenses. The Ewing Insurance Agency has auto insurance consultants to help you find the right coverage for your business vehicles. Give them a call at 704-861-0100 for help with selecting the best coverage to protect your company.
Not having the right insurance coverage can put your business at risk, so have commercial auto insurance consultants find the right policies for your company. You can pay a visit to Facebook page for more information!
