car insurance

Do You Need Personal or Commercial Auto Insurance?


Do you use your personal vehicle for business purposes? Or maybe you use a company vehicle for personal reasons? If either of these situations apply to you, it’s possible your auto insurance policy isn’t giving you the protection you need.


Here’s what you need to know about personal and commercial auto insurance to help you make the best choice to protect you, your business and your car.


Personal auto insurance

Personal auto insurance will help you with financial losses sustained in a crash while you’re using your car for personal reasons such as driving to work or going to the grocery store. This includes losses pertaining to injuries, fatalities and damage to the vehicle.


Standard personal auto insurance policies include:


• Third-party liability coverage. If you’re in a crash and it’s your fault, this policy protects you in a situation where someone is injured or killed, or property is damaged.


• Statutory accident benefits coverage. If you’re injured in a crash, this will provide financial help for things such as medical treatments, rehabilitation services or income replacement.


• Uninsured automobile coverage. This protects you if you’re involved in a hit and run or someone in your vehicle is injured or killed by a driver without insurance.


Drivers with bad records, young drivers and novice drivers are all considered high-risk as they’re more likely to file a claim. Unfortunately, high-risk driving personal auto insurance policies tend to be more expensive.


Commercial auto insurance

Commercial auto insurance covers you while driving for all types of business activities in your industry. If you use a vehicle for deliveries, haul equipment for your business or drive around clients, then a commercial auto insurance policy is right for you.


Here are some benefits of commercial auto insurance:


• It protects you from liability if you, an employee, or a client is injured or killed in a crash involving a company vehicle. This includes medical expenses and lost wages.


• It covers the repair and/or replacement costs to items and products lost or damaged while doing deliveries.


• It can provide replacement vehicles so that you don’t lose productivity if your vehicle is out of commission.


You may also need a commercial policy if you’re a rideshare driver (Uber or Lyft), so you should check with your insurance broker to make sure you’re covered.


Auto insurance in Nova Scotia

When it comes to car insurance in NS, Eisenhauer Insurance Inc. can help you secure auto insurance at competitive rates. Our experienced brokers can explain your options and help you find the best auto insurance policy for your needs. Contact us today to learn more and get a free quote.