Transforming your vehicle into a business asset, such as employing it for ridesharing, delivery services, or other commercial purposes around Parma, OH, demands a comprehensive understanding of auto insurance implications. Standard policies often don’t provide adequate coverage for business use.
Personal vs. Commercial
Personal auto insurance merely safeguards vehicles that are for personal affairs and non-commercial purposes. Once you commence using your car for business reasons, such as the transportation of goods or offering ride-along passengers for a fee, your policy no longer covers accidents or damages incurred during these activities. Insurance providers deem business usage at a higher risk due to increased mileage and the nature of commercial driving.
Commercial Auto Insurance
Commercial auto insurance is explicitly tailored for vehicles involved in business operations. This policy provides more expansive coverage, including liability, physical damage, medical payments, and uninsured motorist protection. It also encompasses employees who may operate the vehicle for business activities. For instance, if you’re using your car for delivery services, commercial auto insurance will shield you in case of an accident while on the job, which a personal policy might exclude.
Ridesharing Insurance
Ridesharing insurance is vital for those engaged in ridesharing services like Uber or Lyft. These services often provide coverage while you are logged into their app and actively transporting passengers. However, there may be gaps in coverage during periods when you’re waiting for a ride request. Ridesharing insurance can bridge these gaps, offering continuous protection whether you are en route to pick up passengers or waiting for a new fare.
Capretta Insurance Agency Is Here For You
Capretta Insurance Agency is available when you need insurance information. Our services are accessible in Parma, OH, and surrounding areas. Call today.
