Driving a Personal Vehicle for Business Use? Insurance Concerns You Need to Know

Not all auto insurance is the same, and it’s important to understand the differences that could affect your coverage. One of the most common circumstances in which coverage questions arise is when you operate a personal vehicle for business use. What some people do not realize is that a personal auto insurance policy typically won’t cover damage to your car if you’re using it for business purposes.

Even if your personal auto policy has “business-use” coverage, you may find yourself at a loss in the event of an accident, especially if your liability limits are not high enough to cover the damage. Make sure you’re protected; be sure to review the following questions with your independent insurance agent:

• How do you define “commercial use?” Some insurers may simply define it as transporting goods for compensation or a fee, which could include services like:

                    o    Pizza and newspaper delivery

 

                    o    Catering

 

                    o    Door-to-door consulting services

 

                    o    Landscaping or snowplowing services

 

                    o    Day care/church van services
 

Even real estate agents may qualify. Fall in to one of these categories? Talk to your agent about a commercial vehicle insurance policy.

 

Is commercial auto insurance right for you? Here are some questions to ask to help you determine the answer:

•        What are my liability limits? In general, a commercial auto policy can offer higher liability limits. Larger vehicles, like delivery vans, can cause more damage than passenger cars, making higher liability limits beneficial in the event of an accident.

•        Does my personal policy cover me for issues specific to my business? For example, if you have a trailer that damages another vehicle while on a job, will you have coverage? A personal liability policy may not cover the repairs in this case, but a commercial policy will.

•        Do I have employees who drive my vehicles? In general, if other people drive your vehicles for work, you need a commercial auto policy.

You also a need commercial auto policy if your vehicle hauls tools or equipment weighing more than 500 pounds, makes deliveries, or requires filings for interstate for for-hire trucking businesses.

 

At Hunkins & Eaton Insurance Agency, our local, independent agents can help you better understand your coverage needs and custom design coverage accordingly. To learn more about securing commercial auto insurance in NH and to get a free quote, call us today at 800-427-3975 or click here.

To learn more about the differences between personal and commercial auto insurance policies, visit www.progressivecommercial.com. For additional insurance information, safety tips, and other useful resources, please read our other blog posts and connect with us on Facebook, Twitter  and Google+.

 

3 Business New Year’s Resolutions for a Safer and More Efficient 2013

If you made a New Year’s resolution for 2013, whether it was a weight loss goal or a commitment to quitting smoking, you are likely in the majority. While making personal New Year’s resolutions is quite common, not everyone thinks to make a resolution for their business. Use the following three New Year’s resolution ideas to help your business become safer and more efficient in 2013:

1. Develop an emergency preparedness plan to be prepared for the unexpected. Did you know that according to FEMA, 40 percent of businesses affected by a natural or human-caused disaster never reopen? For this reason, it’s crucial to have an emergency preparedness plan in place in case disaster strikes. To help protect your business from different types of disasters, identify the exposures it faces, like hurricanes, floods, widespread serious illness, and acts of violence or terrorism, and develop a plan for each risk. The five steps in developing emergency preparedness plans, according to FEMA, are program management, planning, implementation, testing and exercises, and program involvement. For more information on this five-step plan and how to use it to help protect your business from an unexpected disaster, please visit www.ready.gov/business.

2. Eliminate existing workplace safety hazards and implement a safety program to prevent future accidents. Among the many goals you’ve set and priorities you’ve identified for 2013, make sure you’ve included promoting workplace safety. From discovering and eliminating current hazards, to creating a safety program, there are many steps you can take to make workplace safety a priority this year. First, analyze your work environment to identify any existing safety hazards, including inadequate lighting, electrical cords on the ground, overloaded outlets, wet and slippery floors, and chemical hazards. Depending on your industry, the climate could pose additional safety hazards, like fatigue and heat stress among construction workers during the summer months. If possible, eliminate all safety hazards you discover. If you can’t eliminate the danger, help reduce its chances of causing an accident by placing warnings nearby, like labels on all chemical and “Wet Floor” signs on slippery surfaces. Provide your employees with adequate safety training, especially if they will be handling any hazardous materials, as well as any necessary personal protective equipment for their jobs, from gloves and boots to glasses and reflective vests.

In addition to eliminating current hazards, it’s important to promote future workplace safety by implementing an effective safety program. Creating a safety program will not only help you prevent employee injuries, but in doing so, it will also help you lower your workers’ compensation premium and overall claims costs, and increase productivity. For additional information on how to create an effective safety program, click here to read “Developing an OSHA Compliant Workplace Safety Program,” on BizFilings.com.   

3. Review your business insurance coverage to ensure that your company is adequately protected. Regardless of the precautions you’ve taken to promote safety and prepare your business for the unexpected, accidents can still happen. In the event of a loss it’s important to ensure that you have adequate coverage for all of your business’s operations. A business can undergo many changes over the course of the year, and since you’re focused on running your business, it’s easy to forget to update your insurance agent on changes that could affect your coverage, like expanding your office, changing locations, buying or replacing any vehicles, and adding any new drivers. Even changes that may seem minor, like creating a website or purchasing new equipment or tools, can affect your coverage needs, so it’s a good idea to review your coverage with your insurance agent every year to ensure that it still protects all of your company’s current operations.

At Hunkins & Eaton Insurance Agency, we are here to help you ensure that your business remains protected. For additional information, or to get a free quote for business insurance in Littleton, N.H. or the surrounding communities, please call us at 603-444-3975 or visit www.hunkins-eaton.com.

You can also find us on Facebook, Twitter and Google+.

Hunkins and Eaton Insurance Agency

Hunkins and Eaton Insurance Agency offers very competitive insurance programs:

• Automobile Insurance
• Homeowners Insurance
• Personal Umbrella, condominium and renter's policies.
• Commercial Umbrella

To learn more about our agency and services, please watch the video below and visit us online at www.hunkins-eaton.com.  We look forward to hearing from you!

You can also find us on Facebook, Twitter and Google+.