Everything Entrepreneurs Need to Know About Commercial Vehicle Insurance in North Carolina

Written By Charlotte Insurance on March 22, 2023. It has 0 comments.

Everything Entrepreneurs Need to Know About Commercial Vehicle Insurance in North Carolina

Did you know that if you get into an accident while driving your vehicle for business purposes, your standard automobile insurance policy more than likely won’t cover any damages? You could end up paying a lot of money out of pocket should you be found at fault for the accident. Rather than take this chance, it’s probably time for you to take out a commercial vehicle insurance policy.

How can you know for sure that this is the best option? Keep reading as we answer plenty of important questions below.

Do You Use Your Vehicle for Business Purposes?

This seems like an easy question to answer, but in some cases, it can be complicated. Driving your personal vehicle to and from your office doesn’t count as a business purpose, but taking it out to meet with clients or do sales calls does. If you deliver things for people (like Instacart or DoorDash), or even have your vehicle operate as an Uber, then you need a commercial vehicle policy.

Also, what if you’re an artisan who sells items at farmer’s markets? Obviously, you’ll need a vehicle to transport your small-batch soaps and table setup to those locations. Does that count as a business purpose? The answer to this question is: you might need a commercial vehicle insurance policy. It could depend on how often you use your vehicle for this reason, as well as what the state of North Carolina has to say about related regulations. It’s best to speak with your insurance agent, just to make sure that you have the coverage you need.

What About Having Employees Drive the Vehicle?

The answer to this question is much easier: if you have your employees drive one of your vehicles for company purposes, then you need to have a commercial vehicle insurance policy. Your personal auto insurance policy won’t cover them if they get into an accident. Even if you have one worker who occasionally drives your vehicle for a sales call or to drop off some packages in the mail, you still need to have a commercial policy in place. There really aren’t exceptions when it comes to this type of usage.

Protecting Your Fleet of Vehicles

Just because you’re an entrepreneur, doesn’t mean that you don’t have a fleet of business vehicles at your disposal. Any time that you plan to use one for business purposes, no matter how seldom that may be, you need ensure that you have the right insurance on the vehicle. Otherwise, you might end up having to pay a lot out of pocket should something happen.

Do You Need a Commercial Vehicle Insurance Policy?

Still have questions about these policies or are unsure whether or not you need one depending on the circumstances? Contact Charlotte Insurance today, and we’ll be happy to help ensure your business is fully protected and all your insurance policy needs are met.

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