Insurance on Company Car
I’m provided with a company car that I use for both work and personal purposes. Since I live in an apartment and my situation doesn’t require a personal vehicle, I don’t own a car outside of this one. My driver’s app indicates that the insurance is a commercial fleet policy, and there’s no checkmark next to the personal use option. This car has been my only vehicle for the past two years, and I’ve recently received some concerns about the insurance coverage. I’d like to clarify a couple of points:
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Am I covered if I have an accident while driving for personal use?
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Should I be concerned about potential lapses in coverage if my job or life situation changes, requiring me to buy a car?
Thanks in advance for your help!
It’s great that you’re looking into this, as understanding your coverage is essential. Here are some insights based on your questions:
Personal Driving Coverage: Generally, a commercial fleet policy covers vehicles used primarily for work-related activities. However, many companies allow personal use of their vehicles, which may mean you have some level of coverage during personal driving. It’s vital to check with your employer or the fleet manager to clarify if personal use is included in the policy. Additionally, some personal liability might still apply, but it’s important to know how your specific situation is covered under the policy.
Future Insurance Needs: If your job or living situation changes and you need to purchase a personal vehicle, you will likely need to obtain your own personal auto insurance policy. This is to ensure you have the right coverage for your personal vehicle. It’s a good idea to start looking into insurance options ahead of time so you can be prepared for a smooth transition without any lapses in coverage.
Make sure to keep open communication with your employer regarding the specifics of the insurance policy, and don’t hesitate to consult with an insurance agent for personalized advice based on your situation. TIA!