Automobile Insurance

Jan 5, 2005
Contributor: joel randon

Even if it is totally unrelated to your business, an auto accident that leads to a large legal judgment against you can be hazardous to your personal economic health and to that of your home business. Because of this, it's important that you have adequate coverage on your car to cover both business- and nonbusiness-related accidents and damage to your auto.

Auto insurance has two main components: liability insurance and insurance for property damage. Liability insurance is the most important. It provides compensation to persons who would be able to sue you for personal injuries, medical payments, loss of earnings, or damage to their property arising out of an auto accident.

Property damage coverage includes such collision and comprehensive coverage, which compensate you for damage to your car, and assorted damage to it caused by such things as fire, theft, and vandalism.




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