When you work with a Schumacher Insurance Agent they will work with you by finding the right insurance policy for your business. The biggest benefit working with us is that we work with over 30 Insurance Carriers to find you the best and most affordable coverage.
As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, medical payments (known as personal injury protection in some states), and coverage for uninsured motorists.
In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the “principal insured” rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.
Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them, and whether employees — if you have them — are likely to be driving their own cars for your business. While the major coverages are the same, commercial auto insurance in NJ differs from a personal auto policy in many technical respects.
Ask your insurance agent to explain all the differences and options. Almost every business faces a loss due to owning, renting, using, or loading/unloading of a vehicle. Most coverage needs can be handled by a business auto policy (BAP) or similar form.
A BAP policy may cover a variety of operations, including trucking, garaging, public and private transport, and businesses with auto exposures that fall outside the other classes. Coverage is flexible. It may be purchased as a separate policy or as part of a package of coverage that may also protect buildings and business property (equipment, furniture, etc.).
Protection for physical injury to other persons or their property because of an accident related to your covered vehicle including legal defense cost or expense.
Handles loss from any cause, except collision. A limited, less expensive option is available. It only protects against a set of specific causes such as fire, lightning, explosion, vandalism and several others.
Takes care of damage from crashes with another object or overturn of the vehicle. This coverage is usually requested by a lender when leasing or financing a car.
Is optional and covers costs associated disabled vehicles. Common occurrences include flat tires and dead batteries.
If you damage a rental car, this option helps reimburse the rental company for income it loses because the vehicle is out of use. There may be limited coverage for injury or damage that you cause to others while using a rented vehicle.
Under the commercial vehicle insurance umbrella in NJ, there are many different types of automobiles covered. There is standard business auto coverage, truck insurance and trailer coverage.
Standard commercial auto insurance covers cars, vans, small trucks, SUV’s, CUV’s, motorhomes/RV’s, buses, and limos. Golf carts, emergency vehicles, monster trucks and military vehicles might not be covered.
Commercial truck insurance in NJ covers tractors, pickup trucks, tow trucks, box trucks and dump trucks. Additional trucks that might be covered under a policy include flatbeds, cement mixers, garbage trucks, ice cream trucks and street sweepers.
When it comes to trailer policies, auto hauler, dry freight, flatbeds and utilities can receive coverage. Concession trailers, tank trailers and dry freight trailers are also covered.
Truck insurance covers many different business entities; owner operators, for-hire truckers and private carriers.
is for individuals who, as the name implies, own and operate their own trucking business. This includes small businesses with one truck, or large ones with an entire fleet.
are independent contractors can be hired by any business who needs passengers, property or goods sent across state lines, or even across the country.
use their own trucks to transport goods for their employer. This is common for construction workers and those working in manufacturing.
No matter what trucking business you are in, a Schumacher Insurance Agent can find an affordable policy that fits all of your commercial auto insurance needs in New Jersey.