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Home Insurance

• The 17 Perils
• Actual Cash Value vs. Replacement Cost
• Understanding Deductibles
• Documentation of Valuables
• Expanding Coverage
• Floaters for the Finer Things
• Flood Insurance
• Insuring a Home
• Liability Coverage
• The Basics of Homeowners Insurance
• Cover Yourself with an Umbrella Liability Policy
• Insuring a Condominium
• Special Circumstances: Property Under Construction and Rental Property
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Auto Insurance

• On the Move: Insurance Protection for Your Automobile and Other Vehicles
• Auto Insurance Basics: Liability, Collision, Comprehensive
• Additional and Optional Coverages
• Who's At Fault?
• Premiums and Discounts: Factors that Affect Your Rate
• What To Do After an Accident
• Getting Your Car Back
• Using Your Personal Car for Business
• Risky Drivers
• Adding a Teen or College-bound Driver
• Motorcycle Insurance
• Watch the Hull: Insurance for Boats and Other Watercraft
• Specialty Policies Insure Fun
• Aviation Insurance
Risk Management

• Term Life Insurance
• Whole Life Insurance
• Universal Life Insurance
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• Auto Insurance
• Insurance Claims
• Maximizing Insurance Benefits
• Protecting Your Home
• Assessing Disability Insurance
• Types of Health Care
• Additional Liability Coverage
• HMOs and PPOs
• Evaluating Insurance Companies
• Long-Term-Care Costs
• Medicare Coverage

Using Your Personal Car for Business

Many individuals who run a business from their home must decide whether or not to buy personal or commercial auto insurance. And other drivers may use their own car to handle business at the request of their employer. Whatever the circumstances, some questions arise regarding the insurance coverage for a car that has a job to do.

If you frequently use your own car for company business, ask your employer if a commercial policy would cover you should you get into an accident. It may be helpful to know in advance if or when your company's insurance would foot the bill. Your personal policy should take effect if your employer is not covered.

If you are self-employed and use your own auto to make sales calls or move equipment from job to job, a personal policy is usually adequate. However, if you are paid to make regular deliveries or use your vehicle as a taxi you probably need to inform your insurer, secure extra coverage, or maybe even get a commercial policy. Generally, a personal auto policy may be all you need unless you are driving other people around frequently.

In some cases, an independent contractor such as a carpenter or landscaper may need a commercial policy - if the vehicle is used more than 50 percent of the time for business purposes. And personal auto policies must have increased limits to cover any equipment that is permanently attached to the vehicle, such as an expensive generator.

If you own a home-based business, you will need to assess your liability and think about how often your car is used for business. If you explain the specifics of your situation, a knowledgeable insurance agent may be able to help you determine your insurance needs.

© 2003 Emerald Publications
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