A large number of diverse industries call New York home. Many of the greats include financial management, construction, educational services and manufacturing. One of the things that all of these different companies have in common is that eventually there is going to be a need for a commercial vehicle.
In order to make certain that your company cars, employees behind the wheel and passengers are protected, as well as your personal assets, you need to obtain proper Commercial Vehicle Insurance. As a responsible business owner, this is something that cannot be overlooked if you want your business to succeed.
The search for the right coverage can be quite daunting. It is vital that you have an agent who is willing to help you determine your exact needs and identify the ideal policy for your business. In addition to providing you with the right coverage, you also need someone who can provide you with the right price.
Is Business Auto Insurance Right For You?
First and foremost, you need to know exactly which vehicles are classified as commercial vehicles, such as:
- Automobiles that are used for making deliveries, whether they are trucks, vans or cars
- Limousines that you use to pick up clients from the airport, drive around executives, etc.
- Recycling and garbage collection trucks
- Buses and vans that are used to transport school children
- Tractor trailers
In the construction industry alone, there are several vehicles that can be considered as commercial vehicles, including:
- Cement trucks
- Flatbed trucks
- Dump trucks
These are only some of the most common vehicles that may require Commercial Auto Insurance. The fact is that a commercial automobile is any truck, van or car that you use during the course of conducting business.
If you do not have a vehicle that you use specifically for business, but instead you drive your personal vehicle to conduct business, it may still be considered a commercial vehicle. The reason for this is because a vehicle that is used for any business operations is best protected with the right Business Auto Insurance policy. This will provide you with coverage against any accidents or property damage that may take place when the vehicle is being used for business purposes, which most personal auto insurance policies will not cover. You cannot rely on your personal auto coverage to protect you in against incidents that are business related. If you do, you may find yourself paying a lot of money out of your own pocket when an accident does occur.
In some cases, commercial autos are exposed to greater risks, making a separate policy necessary. For instance, if you have a fleet of trucks that you use to transport hazardous material, you will need to invest in a commercial auto policy that covers these specific liability exposures.
How Much Commercial Vehicle Insurance Coverage Do You Need?
In the state of New York, you are required by law to carry a minimum level of liability coverage on your policy. However, it may be a good idea to invest in additional coverage depending on the risks and needs of your business.
If you have a small car that you use to meet with your clients, you will require a different Commercial Auto Insurance policy that a business owner that is responsible for an entire fleet of garbage collection trucks. You will need to consider the types of vehicles that are used by your business. You also need to think about who owns the vehicles that your company uses, who drives them and how often. Finally, you will also need to take into consideration what you transport with these vehicles.
Your insurance agent will be able to help you determine the proper amount of coverage based on the automobiles that are owned by your company, as well as the experience and training of the employees that operate those vehicles. Other factors will also be considered that may be unique to your company.
With the right Commercial Vehicle Insurance policy in place, you can rest assured that your business is protected financially when an accident occurs. If the accident causes serious injuries and major property damage, you will be cushioned from the blow of high cost repairs, medical treatments and legal action. In addition, your policy will also provide you with protection in the event that one or more of your company vehicles are damaged due to severe weather or some other hazard.
Putnam Record Insurance Agency works with a large number of insurance companies, which makes it possible to compare a variety of Business Auto Insurance quotes quickly and easily. All you have to do to get started right away is complete the risk-free quote form or call us at (716) 366-2744 and contact an agent today. You will be connected with a knowledgeable agent who can assess the needs of your business and match you with a policy that is tailor made.