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Commercial Auto Vs. Personal Auto Insurance | Business Wire

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–(BUSINESS WIRE)–(NAPSW)—Whether your company owns and operates a fleet of pickup trucks

for ploughing snow or a single car to make business trips, the reality is

many businesses use the same vehicle for business and personal reasons.

But not all business use requires a commercial auto insurance policy. So

how do you know which you need?

Factors to Consider

Since every business is unique and each insurance company uses different

standards, it’s a good idea to consult a professional business insurance

agent. Some of the variables that can help you determine if your

business requires a commercial auto insurance policy include:

• Number of vehicles owned

• Who’s driving the vehicle(s)—if you need to list other employees as

drivers, you need commercial insurance

• How often the vehicle(s) is (are) used for commercial purposes—talk to

your agent about what's defined as “business use”

• Type and size of vehicle(s)

• Registration—if the vehicle(s) is (are) registered in the name of the

business, you need commercial insurance.

For example, you own a small dry-cleaning business and own two vans that

your employees use five days a week to pick up and drop off your

customers’ orders. You sometimes use the van to run errands or grab

lunch. They're primarily used for business purposes. The title of

both vans is in the name of your business.

So what do you think—does the dry-cleaning owner need personal or

commercial auto insurance? If you guessed commercial auto insurance, you

guessed right.

Safeguard Your Vehicles

Similar to personal auto insurance, a commercial auto policy will likely

include a combination of bodily injury, property damage, collision and

comprehensive coverage, including:

• Vehicle repair or replacement after an accident

• Damage caused by theft, vandalism or inclement weather

• Property damage expenses

• Injury or damage to others

• Medical bills.

Also, if your company’s vehicle is involved in an incident that causes

damage to someone’s property or gets in an accident with another car,

driver, passenger or pedestrian, commercial auto insurance would offset

related costs.

Get Further Advice

Visit www.wellsfargo.com/insurance

to learn more.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50444854&lang=en

Wells Fargo & Company
Katie Ellis, 415-222-3767

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