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Generally speaking: no. Personal auto insurance protects individual liabilities but does not protect company assets in the event of an accident.
Business auto insurance helps protect your company’s assets from liabilities associated with company owned vehicles, such as accidents and breakdowns.
Cost will vary depending on the number of vehicles you need to insure, who will be driving company owned vehicles, and a variety of other factors. Speaking with a business auto insurance agent from Ansay is a great way to get an accurate range of quotes.
Typically, commercial auto insurance is higher than personal auto insurance because there is a risk of higher liability. Additionally, the vehicles are much more frequently in use.
Although not a legal requirement in all states, business auto insurance coverage for a sole proprietor is very important. As a sole proprietor you lack the layers of protection offered by an LLC or S-Corp designation, putting all of your assets at risk in the event of an auto accident while working.
Find out if you're adequately protected when it comes to your off-road vehicle.