Differences between individual and commercial auto insurance

The differences between the individual and commercial auto insurance are many, but there are two main ones: the extension and the objective of the coverage. After all, companies have concerns that individuals do not share , such as interruption risks, for example.

Commercial insurance, also known as fleet insurance, protects vehicles used for commercial purposes. Depending on the use and type of cargo, coverage is chosen to ensure that the company, employees and vehicles are fully protected.

On the other hand, the individual auto insurance is aimed at drivers who use their car in a personal way. This protects them in case of suffering an accident, theft or total loss.

When do I need commercial auto insurance?

When do I need commercial auto insurance?

You need insurance for fleets if your company provides vehicles to employees or they use their personal vehicles to work.

This category includes any vehicle (owned or leased) of a company, company or corporation:

  • Official / utilitarian cars.
  • Trucks
  • Pick-ups
  • Buses
  • Tract-trucks.
  • Trailers
  • Cargo trucks.
  • Vehicles equipped with work equipment, etc.

Remember, if you use it for your profession or business (apart from using it to move to work), you probably need to hire commercial insurance.

What does it cover?

What does it cover?

The coverage can be broad or limited depending on your services. You can also include special functions such as:

  • Compulsory travel insurance.
  • Damages due to the load.
  • Civil liability for trailers.
  • Liability for contamination.

When do I need individual auto insurance?

When do I need individual auto insurance?

An individual insurance prevents unexpected situations in which your car may be involved, be it a theft, fire, explosion or any situation that endangers the driver and occupants . Even to third parties outside the car.

In regions such as Mexico City, insurance is not optional but an obligation. In addition, model 2002 vehicles and above must have civil liability insurance to travel on federal highways and roads as of 2017.

What does it cover?

What does it cover?

The policies and prices of the individual policy depend on each insurer, but all are based on aspects such as:

  • Age.
  • Background of the driver.
  • Type of vehicle
  • Deductible amount.
  • Type and level of coverage.

Your policy may include Civil Liability (damages to third parties), property damage, medical expenses due to accidents, roadside assistance and crash coverage.

To buy car insurance, whether individual or commercial, we recommend you:

  • Compare different insurers . The service during a disaster is very important, check the reviews of each insurer.
  • Analyze what kind of coverage you need . Choose the insurance that best suits your needs and your budget.

Do you want to take out an insurance or renew the one you have? Our experts will give you the protection and support you need.

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