4 Things You Need to Know About Commercial Vehicle InsuranceWe correct some of the most common misconceptions.

If you're operating a business that uses a car or truck, skimping on insurance is the last thing you want to do. This is just common sense, says Loretta Worters, vice president of the Insurance Information Institute. "Business vehicles are targets," she warns. "We've seen accidents where a physician was targeted because he had 'MD' license plates, and people assumed he was rich."

But the biggest oversight Worters sees is the assumption that a personal insurance policy covers liability in an accident that occurs while using the vehicle for business. It usually doesn't, as most policies explicitly exclude coverage for business use. Instead, you'll need a separate commercial vehicle policy to cover your vehicle.