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Commercial insurance for vehicles owned or operated by businesses functions quite similarly to private auto insurance, except that personal use of the vehicle is not covered. Commercial insurance pricing is also usually higher than private insurance, due to the expanded types of coverage offered for commercial users. [2]
In the United States, a vehicle is designated "commercial" when it is titled or registered to a company. This is a broad definition, as commercial vehicles may be fleet vehicles, company cars, or other vehicles used for business. Vehicles that are designed to carry more than 15 passengers are considered a commercial vehicle.
Multiple-peril insurance coverage is a kind of insurance that bundles together multiple coverages that typically would be needed with each other. Typically the package may include coverage for business crime, business automobile, boiler and machinery, marine, or farm. [1]
Proper insurance coverage protects your small business from unexpected circumstances and costs. Yet, according to the 2023 Hiscox Underinsurance Report, 75% of small businesses in the U.S. don’t ...
Starting your own business requires a significant investment of both time and money. Millions of people continue to step up to the challenge with 33 million small businesses active in the U.S. as ...
However, if you own a business and purchase a company vehicle, you will need to purchase business auto insurance coverage. The vehicle will need to be insured as a business auto rather than a ...
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related to: commercial vs business auto insurance- 21 W Broad St, Columbus, OH · Directions
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