Hey guys stupid question the truck I use for work is currently registered to me personally. However I have commercial auto on it under the business. Should I or do I have to switch the registration out of my name and Into the business?
It may depend on your state, but here in Cali I would say no… I worked for a Cleaning Franchise before and all work trucks where under the business owners personal name… Even tho the trucks where wrapped with the Franchise logo
If the business is it’s own entity (LLC, Corp, etc)., then you would want the car to be registered under the businesses name. So for instance, if the commercial auto policy insured is “B16bri, LLC” then the registration should be “B16bri, LLC.” - If your business is an entity, you really need to keep your personal assets as separate as possible from the businesses assets i.e. car, bank account, etc., so that if god forbid you have a claim/lawsuit against your business you can show that the business is wholly separate from you, personally, which shields your personal assets. The more spillover you have between your personal assets and your business assets allows a lawsuit to extend to your personal assets. (this isn’t legal advice.)