Running your own business increases your financial and reputational risk, so it’s important to protect yourself by insuring both your company and your employees. Some small business owners commit mistakes when taking out an insurance policy that creates problems later on. Producer Myles Trempe was interviewed by FitSmallBusiness on why small businesses should consider commercial auto insurance.

Myles commented, “If a small business operates company cars, vans, or trucks, there is a great likelihood they need commercial auto insurance. Business owners oftentimes distort the lines between personal auto insurance and commercial auto insurance. A standard personal auto insurance policy has limitations or exclusions relating to the business use of a personal auto. Therefore, small business owners need commercial auto insurance to protect against auto liability for bodily injury and property damage to a third party. A commercial auto policy is critical for protecting the business financially, and is required by the law. A general liability policy for the business does not cover the costs of claims that arise from work-related auto accidents.”

Read the full article, “Top 25 Small Business Insurance Mistakes to Avoid.”

If you have questions regarding commercial auto insurance, please contact Wallace & Turner at (937) 324-8492 or via our contact form.