Innfo: Operating A Successful B&B
A Guide For The Serious B&B Innkeeper
Auto Insurance
for the Bed and Breakfast Innkeeper
January 22, 2006
by Kit Cassingham
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Auto insurance is necessary for your business car. Whether you go with a discount auto insurance or
standard auto insurance company depends on pricing and your expectations, though you often get what
you pay for. Cheap auto insurance usually means cheap coverage, though not always. You want the best
auto insurance rate for the best coverage. You can shop for auto owner's insurance online or through
an agent. Just make sure the auto insurance coverage is complete.
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Bed and breakfast innkeepers owe it to themselves to get auto
insurance coverage on any vehicle they are using for business. Whether you are running errands like grocery
shopping or buying flowers or taxing guests, the car being used needs good coverage. You want insurance
that will cover your business assets if you are involved in an accident. You can opt to have an insurance
agent who will help you get the best coverage for your situation, or you can shop for your auto insurance
online. Cheap auto insurance may not be the same as discount auto insurance because of what's covered and
how claims are handled; shop carefully. Note: you may not be able to get a quote online if you have an
older car, if your car is registered out of state, or if you have more than five drivers you are insuring.
Here are some terms and concepts, as gleaned from several auto
insurance company websites. Your auto insurance coverage should give you auto owner's insurance with
various additional policies attached. Consider collision, gap, liability, medical, rental reimbursement,
towing and labor, uninsured motorist, and under-insured motorist. Be sure to look for the best auto
insurance rate that gives you as much as you need to protect your assets.
Collision insurance pays to repair your vehicle if you cause the
accident. This is generally the most expensive component of auto insurance. Usually you only get the car's
replacement cost. Comprehensive insurance covers damages to your car that weren't caused by an accident
like colliding with a deer, vandalism or theft, fire, and a tree limb falling on you (and other natural
disasters). In both coverages, the higher your deductible, the lower your payment. And in both cases, the
insurance company will only pay as much as the car was worth before it was damaged.
Gap insurance pays the difference between the cash value you
receive for a totaled car and the cost of your new car.
Liability insurance is the basis of auto insurance policies and
is required in most states. Accidents you are at fault in will be covered for property damage and bodily
injury expenses, as well as your legal bills.
Medical payments coverage pays medical expenses for you and your
passengers after an accident. Personal Injury Protection (PIP) is an expanded form of medical payment
protection, as is no-fault coverage. These options may not be as important if you have a good health
insurance policy and disability insurance.
If your car is damaged, or stolen, rental reimbursement will
cover the rental of a car until you can get yours repaired or replaced.
In the event your car breaks down, you want towing and labor
coverage to handle the expenses to get you back on the road.
If an uninsured motorist hits your car, or your car is involved
in a hit-and-run accident, uninsured motorist coverage is important, and required in many states. Under-
insured motorist coverage is important when the damage caused during an accident is greater than what the
other motorist's policy will cover. In some states, both uninsured and under-insured motorist coverage pays
for property damage too..
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