Most small businesses use or own at least one vehicle, sometimes more.
But often small business owners blur the lines between the personal autos that they use for business purposes and vehicles that are purchased by the business itself. The standard personal auto insurance policy generally has limitations or exclusions relating to business use that could have an impact on the recovery for damage to the vehicle or personal injury.
Consider for example, a self-employed computer technician who drives a pick-up truck to visit clients. In addition to his own computer equipment, he carries property that belongs to his clients. What happens if he is in an accident and the client's equipment is damaged? What happens if the truck is parked in a parking lot and all the contents are stolen?
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
