
Business Auto Insurance in NJ
If you are a business owner who owns and operates motor vehicles, you’ll need to ensure that your fleet is insured.
Whether you have a small number of company cars or an extensive collection of vans and trucks, it makes sense to ensure your vehicles are protected with business auto insurance in NJ.
What is Business Automobile Insurance?
Business auto insurance is designed to cover vehicles used for commercial purposes. If you run a business and your employees operate vehicles, such as cars, vans or trucks, you should have coverage.
Your personal policy, along with the personal policies held by your employees, will not cover the use of most commercial vehicles. When you take out a business auto insurance policy in New Jersey, the cost of accidents and injuries and vehicle damage will be covered.
Your personal policy will not cover the use of most commercial vehicles.
Who Needs Coverage?
There are several industries that use commercial cars and trucks on a regular basis. No matter how many or how few vehicles you manage, you or your business should have some form of auto coverage.
Examples of industries that can benefit from business auto insurance in NJ include:
- Outside sales
- Marketing agencies
- Real estate professionals
- Logistics and supply chain management
- Construction and contracting
- Deliveries and transportation
When you inquire about commercial auto insurance, your provider will ask you questions about how many vehicles you have, which kinds of vehicles you own, and how you use commercial vehicles. The answers will enable them to find a policy that suits your requirements.
Which Vehicles are Covered?
If you take out a business automobile insurance policy, it should cover:
- Any vehicles owned by your company
- Any vehicles your business leases or hires
- Any automobile used for business purposes
Business auto insurance policies in NJ can be used to cover a wide range of vehicles, including:
- Cars
- Trucks
- Vans
- Construction vehicles
- Tractors
- Trailers
- Snowplows
- Buses
- Taxis
- Limousines and private hire
Types of Coverage
There are various options available to you when you take out a business auto insurance policy.
Here are 3 of the most common types of coverage:
- Collision coverage protects against losses that occur as a result of a collision or a vehicle overturning.
- Comprehensive coverage is designed to minimize the risk of any losses associated with accidents or incidents on the road. This is the most expansive form of coverage, and it shields against virtually everything apart from collisions and overturning. There are a few additional exclusions, such as damage caused by war, so check the details of your policy.
- Specified perils includes coverage for specific “perils,” which are outlined in the policy beforehand, such as theft, fire, lighting, explosions and more.
Businesses might consider opting for additional liability insurance, which can protect companies when an employee is at fault for an accident.
Additional liability insurance can protect your business when an employee is at fault for an accident.
If you own or rent vehicles, it’s wise to invest in business auto insurance in NJ. Seek expert advice to find a policy that is suitable for your company’s needs today.