Do sole proprietor's need Business Auto policies?
I have a business, but I am a sole proprietor, and I own my truck in my own name. Do I need a Business Auto policy?
There are many reasons to have a business auto policy if you are a sole proprietor, but let's just talk about a few here. Not all business autos are big trucks or autos owned in a Corporation. All personal auto policies exclude Business Auto exposures; one on the list is a vehicle that has a sign. Whether big or small, a sign on your vehicle will make your vehicle ineligible for a personal auto policy. If your vehicle does have a sign you need to notify your Insurance Agent so that they can cover your vehicle and the sign accordingly.
You should also have a business auto is if you use your vehicle to carry your tools. If you are hauling any tools or product such as lumber, machinery, etc., you need to protect your vehicle and your liability on a business auto policy. This would also include having a trailer attached to your vehicle to haul goods for your business. Your vehicle and your trailer should be listed on your business auto policy.
Another reason to have a business auto policy is to protect your other drivers. If you have any employees that use your vehicle for your business, that vehicle needs to be covered under a business auto policy. Also, if you or your employees rent cars or trucks for your business you would also need to be covered for a 'hired' auto liability exposure.
All of these exposures are easily covered under a business auto coverage form. If you aren't sure how to properly protect your exposures call us at 877-352-2121 or visit our website at clarkmortenson.com for more information, so that you can be sure you are protected in the event of a loss.