Do Realtors Need Commercial Insurance For Company Registered Vehicles?
Posted on: April 22, 2015 by
Concern auto insurance, also called commercial auto or, depending on the types of coverage, non-endemic auto insurance is a necessary coverage for many dissimilar types of businesses. How does this coverage differ from personal auto insurance? Personal auto insurance covers insurable events such every bit the actual injury of yous, your passenger, or another driver, in additions to collision costs, uninsured motorist claims, theft and property damage. Realtor Business Auto Insurance, however, has dissimilar liabilities it must cover.
For case, if yous are "on the clock" and are driving a client to a certain location and an accident occurs, your personal auto insurance volition likely not encompass any injuries that occur to your customer, every bit you were on-the-task. This isn't ever the case though; some personal auto insurance policies practice allow coverage for this type of loss, if the type of vehicle you are driving is a standard passenger vehicle, versus a van or truck.
Personal automobile insurance policies typically will not cover a vehicle that is intended for "regular business concern use," which is defined differently depending on the policy. Many personal lines policies put restrictions on how much yous tin actually drive your personal vehicle for work. Do you drive your car more often that the policy allows? You'll need a business auto policy.
The biggest reason yous may need a business organisation auto insurance policy if you are a realtor, is that you likely ship clients to showings on a consistent ground. This blazon of use for a vehicle will disqualify your vehicle from a personal auto insurance policy.
If you are unsure of whether you lot demand business organisation machine insurance or if your personal machine insurance will cover your needs, please speak to your trusted NewMark insurance amanuensis today.
While our expertise lies inProfessional Liability Insurance for Real Manor Agents and a number of other professions,NewMark Insurance Services carries all the insurance coverages necessary to operate your concern. For more than information, please contact us today at(855) 777-6549.
Posted in: blog Real Estate
Do Realtors Need Commercial Insurance For Company Registered Vehicles?,
Source: https://www.newmarkins.com/business-auto-insurance-realtors/
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