There are really only eight cargo van models that dominated the American market in 2013: The Ford E-Series, the Chevrolet Express, the Ford Transit Connect, the Mercedes-Benz Sprinter, the GMC Savana, the Nissan NV, the Ram Cargo Van, and the Nissan NC200. You might be surprised by this, considering the various uses for commercial vans. Vans are excellent company resources for businesses like restaurants, catering companies, florists, rental companies, restaurant supply and parcel delivery companies.
Whether you have one vehicle or a fleet of vans, it is important to get the right commercial van insurance for your business.The coverage you need will depend on a number of factors, including how you use your vans and whether your drivers cross state boundaries.
Commercial insurance can provide coverage for vans that is specific to their use, whether they are used to deliver goods, perishables, flowers, equipment, parcels or people. Personal auto insurance is designed for car owners who use their vehicles for non-commercial driving, and it is important to know that if you use a personal vehicle for business, any incidents that happen may not be covered by your insurance.
There are many different reasons you might need to buy commercial van insurance. Here are some scenarios where commercial van insurance is important to carry:
Commercial van insurance not only provides insurance protection for the driver, passengers and contents, but it also protects the business owner as well. For example, you can set liability coverage at a higher limit with a commercial auto policy than with a personal auto policy. With higher limits, you’ll be able to protect the business operation financially if an employed driver is responsible for an accident that causes bodily injury or property damage.
Commercial accidents can involve employees, passengers, valuable goods and even hazardous materials. Your commercial van insurance needs to be able to cover the expenses of vehicle repair and replacement, lost goods, potential medical expenses if anyone is injured, and legal costs if an injured party files a lawsuit.
The type and amount of van insurance you should buy depends on whether you are a business owner, entrepreneur or contractor, among other things. The first step is to learn about the laws in your state, as many states have specific insurance requirements for commercial vans and trucks. A local independent agent can help you get your questions answered and determine the right amount of insurance for your needs. Your local agent can also help you compare quotes from several different providers.
A typical policy will include some or all of the following coverage:
The amount of compensation you receive in a covered incident will be determined by the amount of loss, the amount of coverage you have, and your deductibles. Be sure to carefully review your needs with a knowledgeable agent. If you are a business owner, one option you may want to explore is an umbrella policy that can provide much higher liability limits. Typical umbrella coverage amounts range from $1 million to $5 million, providing additional liability protection if you face a lawsuit.
There are a number of ways to save money on your commercial van insurance. Here are somt tips: