Understanding Commercial Van Insurance in Scotia, NY
Scotia, NY, business owners who use vans are legally obligated to possess a commercial van insurance policy. Though a basic policy offers necessary coverage in case of accidents and injuries, other policies deliver comprehensive protection, safeguarding your assets against unfortunate incidents.
Basic Commercial Van Insurance Requirements
New York law mandates commercial van operators to hold a commercial auto insurance policy encompassing:
- A minimum liability limit of $25,000/person
- A minimum of $50,000/accident for bodily injury
- A minimum of $10,000 for property damages
As New York is a "no-fault state," bodily injury coverage not only includes third-party victims but also drivers covered by the insurance policy and any passengers.
Why Consider Additional Coverage?
Several reasons compel Scotia, NY business owners to opt for more than just a basic commercial auto policy:
- Basic coverage doesn’t offer compensation for theft, vandalism, and damage caused by natural disasters. Comprehensive insurance is a must for these.
- While a basic policy covers damage to another vehicle, damage to the insured vehicle is only covered if the other driver is at fault and adequately insured. To avoid out-of-pocket expenses to fix your van if the other party is uninsured or underinsured, consider uninsured/underinsured motorist coverage.
- Commercial auto insurance doesn’t encompass business assets or products transported in the vehicle.
Assessing Your Options with Rowledge & Falvo Insurance Agency
With Rowledge & Falvo Insurance Agency, you’ll receive comprehensive assistance in assessing your commercial insurance options, thus ensuring the best picks for your business. Reach out today for more information or to get policy quotes.
