Balancing Work, Life and Auto Insurance
Millennials are famous for blurring the lines between business and pleasure. Balancing work and life is more important than ever, but it does pose some risks when it comes to your insurance – in particular, your auto insurance. Before you start driving your personal car for business purposes, make sure your insurance is going to protect you in the event of an accident.
Using one car for business and for pleasure
Many entrepreneurs are using their personal car to run business errands. However, what happens if you get into an accident while you are doing business or your car is broken into and you lose client products that you were delivering? If you are using your car for both business and pleasure, you need to make sure that you are covered for both. The insurance carrier isn’t going to be happy to be billed for a trunk full of laptops you were getting ready to fix for clients if you are only insured for personal use of your vehicle.
If you are not the only person who may be using your car for business, make sure that each person is covered. The liability coverage that you purchase needs to accurately list every person who is using your car, for business or for please, to make sure they are covered in the event of an accident.
Depending on the nature of your business, you can talk to your independent agent about the liability limit and any exclusions and provisions that should apply.
Customize your auto insurance
Working with an independent agent will give you many options for the best auto insurance to cover your car. Be sure to specify who is going to be using your car, for what purpose, and go through all the scenarios that you will need to protect yourself against, like lawsuits and the cost of replacing both the car and the work products that may have been damaged or stolen.
If you don’t have the correct auto insurance coverage for how you are using your car, an accident or theft could be extremely costly and detrimental to your business.
Work with an independent insurance agent
AAI Central is an award-winning independent agency located in Thornton, Colorado. Our agents can help you customize your insurance portfolio to protect your work-life balance.