If you work as a delivery driver, whether you work for a company or if you are an independent contractor who contracts with businesses or who uses a delivery app, then you should know about commercial vehicle insurance. When you think about commercial vehicle insurance, you might really think that it's just something that big businesses need. However, if you work as a delivery driver, these are some of the things that you will need to know about commercial vehicle insurance.
You Probably Do Need Commercial Vehicle Insurance
Because you are a high-risk driver, there is a good chance that you will be required to have commercial vehicle insurance. Your regular, personal auto insurance policy might not cover you if something happens, and the company or app that you work for might require you to have commercial vehicle insurance, too.
It's Important to Get Enough Coverage
Make sure that you pay for enough commercial vehicle insurance to protect yourself, just in case something happens. The company or app that you work for might have requirements about how much insurance you are supposed to have, and you'll need to make sure that you meet these requirements, too. If you aren't sure of just how much commercial insurance coverage you need, you can talk to an insurance agent who has experience with these policies. They should be able to help you with choosing a policy and signing up for coverage. They can also do things like provide you with proof of insurance.
You'll Need to Prepare to Pay a Little More
One downside of commercial vehicle insurance is the fact that it's often a little more expensive than personal policies. However, if you do things like maintain a clean driving record and shop around for the best deal on insurance, you can keep your costs to a minimum.
It Might Be a Tax Write-Off
Lastly, even though you might have to pay a little more for your commercial vehicle insurance than what you are used to, you might be able to write your insurance premiums off on your taxes as a business or work-related expense. Of course, you should definitely check with your accountant for more information about this, as you don't want to make a mistake on your taxes. However, saving your insurance bills and giving them to your accountant or tax preparer could actually help you reduce your tax burden.
Contact a company that provides commercial vehicle insurance for more information.