When Should You Have Commercial Auto Insurance?

When Should You Have Commercial Auto Insurance?When it comes to vehicles, drivers, and their purposes, personal drivers don’t have the same car insurance concerns as businesses. Businesses have special liability requirements or recommendations. While personal auto insurance, as its name implies, is for individuals to cover themselves and their own vehicles, businesses require commercial car insurance to sufficiently cover employees, passengers, work gear, other people and equipment. Coverage and requirements may vary by states, so make sure you’re in the know on requirements for commercial auto insurance in New Jersey.

Those Who Need the Coverage

Commercial car insurance coverage isn’t just for big rigs; it’s needed if you use your vehicle for work or own vehicles operated by a business. Commercial vehicles can include what may be considered “regular vehicles,” such as cars, pickup trucks, and sports utility vehicles. It also covers what’s more commonly associate with commercial work, such as fleets like dump trucks, and catering trucks.

Other work related vehicles such as utility vans, limousines, taxis, and other delivery vehicles should have adequate coverage as well.

Speak to a New Jersey commercial auto insurance agent if the vehicle is used for any work-related purposes and you’re unsure if commercial auto insurance is needed. If your business has a fleet of company cars that employees can use for personal reasons as well, make sure you’re adequately covered on that front.

What is covered?

Commercial auto insurance covers the same major coverages private individuals purchase, but with add-ons suited for commercial driving such as coverage for employees, equipment, and protects business assets in the event of a lawsuit.

A New Jersey commercial auto insurance agent can inform you of your unique coverage needs based on your business and vehicle use.

Specific Coverages

You must meet New Jersey commercial auto insurance specific liability requirements. This includes bodily and property damage coverage.

If you don’t own your commercial vehicles, you may be required to obtain comprehensive and collision coverage.

Consider additional auto insurance protection such as:

  • Uninsured/underinsured motorist insurance if you’re involved in an accident with another driver who has no insurance or not enough.
  • Personal injury protection helps with medical payments and wage loss when you or passengers are injured in an accident.
  • Emergency roadside insurance helps if you’re left stranded on the side of the road.
  • Personal effects insurance takes care of your or your employees’ personal belongings in the event of theft.

The Purchase

A commercial car insurance coverage purchase is done the same way you’d purchase regular vehicle insurance. Seek a New Jersey commercial auto insurance agency with strong financial standings and customer service feedback, and discuss liability insurance requirements and optional coverages. The agent should offer the best coverage for your specific needs and explain the purchase for your commercial auto insurance plan.

About Tri-State Insurance Agency

At Tri-State Insurance Agency, we want to ensure your high-net-worth homes are protected during the holidays and year-round. Our homeowners’ insurance policies are designed specifically to protect affluent homes like yours. To learn more about our coverage options, contact our specialists today at (973) 579-6776.