Running a shop requires hard work, dedication, and the right tools to succeed. One often overlooked aspect of running a business with a vehicle fleet is ensuring that your autos are properly insured in the event of an accident. This guide will explain what shop insurance auto is, what it covers, the benefits of having it, and how to get it for your business.
What is Shop Insurance Auto?
Shop insurance auto is a type of insurance policy that is specifically designed to cover the vehicles that you and your employees use for work purposes. This type of insurance is different from a personal auto insurance policy because it typically covers more than just collisions and damage.
Shop insurance auto policies often include coverage for theft, vandalism, and liability in the event that an employee gets into an accident while driving a company vehicle. Shop insurance auto policies can also cover non-owned vehicles, such as vehicles that are rented for work purposes or owned by an employee.
Benefits of Shop Insurance Auto
There are several benefits of having shop insurance auto for your business:
- Protection for your business: If an employee gets into an accident while driving a company vehicle, your business could be held liable for any damages or injuries that occur. Shop insurance auto can protect your business from financial loss in these situations.
- Peace of mind: Knowing that your vehicles and employees are covered in the event of an accident can give you peace of mind as a business owner.
- Ease of use: With shop insurance auto, you can have all of your vehicles covered under one policy, making it easier to manage your insurance coverage.
What Does Shop Insurance Auto Cover?
Shop insurance auto policies can vary depending on the insurance carrier and the specific policy that you choose. However, there are several types of coverage that are typically included in shop insurance auto policies:
Collision Coverage
Collision coverage is a type of insurance that covers repairs or replacement of your vehicle if it is damaged in an accident. This coverage typically includes collisions with other vehicles, objects, or animals.
Comprehensive Coverage
Comprehensive coverage is a type of insurance that covers damage to your vehicle that is not caused by an accident. This can include theft, vandalism, weather-related damage, and more.
Liability Coverage
Liability coverage is a type of insurance that covers damages and injuries that you are legally responsible for. This can include damages to other vehicles or property, as well as injuries to other drivers or passengers.
Non-Owned Vehicle Coverage
Non-owned vehicle coverage is a type of insurance that covers vehicles that are not owned by your business, but are used for work purposes. This can include rental cars or vehicles owned by your employees.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage is a type of insurance that covers damages and injuries that are caused by a driver who does not have enough insurance, or no insurance at all.
How to Get Shop Insurance Auto
Getting shop insurance auto for your business is a straightforward process. The first step is to find an insurance carrier that offers this type of coverage. You can do this by searching for insurance carriers online or working with an insurance broker who specializes in commercial insurance.
Once you have found an insurance carrier, you will need to provide them with information about your business, including the number and types of vehicles that you have, the age and driving record of your employees, and any previous insurance claims. The insurance carrier will then provide you with a quote for your policy.
Frequently Asked Questions
Do I Need Shop Insurance Auto?
If you have a vehicle fleet that is used for work purposes, then it is highly recommended that you have shop insurance auto. This type of insurance policy can protect your business and give you peace of mind in the event of an accident.
How Much Does Shop Insurance Auto Cost?
The cost of shop insurance auto can vary depending on several factors, including the number and types of vehicles that you have, the age and driving record of your employees, and your previous insurance claims history. It is recommended that you get quotes from several insurance carriers to find the best coverage at the best price.
What Happens if My Employee Gets Into an Accident While Driving a Company Vehicle?
If an employee gets into an accident while driving a company vehicle, your shop insurance auto policy should cover the damages and injuries that result. It is important to report the accident to your insurance carrier as soon as possible to start the claims process.
Can Shop Insurance Auto Cover Non-Owned Vehicles?
Yes, shop insurance auto policies can cover non-owned vehicles, such as rental cars or vehicles owned by your employees. This coverage is typically included as part of the policy.
Do I Need Separate Insurance for Each Vehicle?
No, you do not need separate insurance policies for each vehicle. With shop insurance auto, you can have all of your vehicles covered under one policy, making it easier to manage your insurance coverage.
Conclusion
Insuring your shop’s auto fleet is an important aspect of running a successful business. By having shop insurance auto, you can protect your business, your employees, and your vehicles in the event of an accident. If you are in need of shop insurance auto, be sure to do your research and find the best insurance carrier and policy for your business’s specific needs.
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