When using personal vehicles for business purposes, small business owners can encounter ambiguous situations. For example, making bank deposits or driving a client to the airport could be considered a business use of the car.   One major concern with relying on personal auto insurance in such cases is that an accident may occur and a personal insurer may deny coverage. So how do you know whether or not you should switch to a commercial auto policy? That all depends on the type of vehicle, the purpose for which it is used, and who owns it. Let’s dive into some questions that can help you determine whether or not you need to update your policy. What kind of vehicle is it? When looking into personal and commercial auto insurance policies, it is important to consider the type of vehicle you're using. If your vehicle is used for any business-related purpose, then a commercial policy would be necessary to provide financial protection against potential liabilities. Certain commercial vehi...

Will My Home Insurance Cover Home-Sharing? The introduction of home-sharing companies like Airbnb and VRBO has changed the norm of what it looks like to rent out a residential home. In the past, renting out a home mostly occurred on a long-term basis where the renter occupied the home for at least 6 months at a time. This made the insurance process pretty streamlined since carriers usually knew what to expect. These home-sharing companies have provided options and flexibility that makes renting a much more customizable experience. That being said, some insurance companies steer clear of homes that are used for this purpose. Other companies have welcomed these new opportunities with open arms. Do I Need Short-Term Rental Coverage? Before we get into what type of policy you should be looking at for your Airbnb, we need to understand the difference between a short-term and long-term rental. Long-term rental is the more traditional way to rent out a property. Anyone who rents out a home fo...