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Commercial auto insurance NY is a must in the modern business world. So many businesses large and small use vehicles in their day to day operations that commercial auto insurance just makes sense because of the amount of travelling business vehicles do. More than that, commercial auto insurance NY is required by law.

Why Would You Need Commercial Auto Insurance NY?

Aside, from the fact that it is required by law, you want commercial auto insurance NY for the same reason that you want any other type of insurance. You want financial protection. Many businesses need company vehicles to complete their daily business operations. With employees driving these vehicles for business purposes, the insurance needs fall to you.

You have to remember that there are minimum requirements. It is the law that every commercial vehicle owner purchases a commercial auto insurance policy with a minimum amount of liability defined by the state. This minimum limit should only be your starting point.

How Much Coverage Do You Need?

There are so many factors that go into answering this question that you will need someone to guide you through the selection process. You may want to cover all vehicles owned by the company or those not owned by the company but used for business purposes. After you decide what vehicles you want covered, you will need to complete some basic calculations to decide how much you need.

Your coverage needs will depend on the size of your business, the number of commercial vehicles you have, and other factors. We at Colstan & Associates will discuss the importance of all these factors with you and listen to your concerns so that if you qualify for our policies then you will end up with a policy that gives you the coverage you need to run a successful business. We will get you the maximum coverage for the minimum price. When you need commercial auto insurance NY, auto insurance NY, boating insurance NY, or garage insurance NY, call Colstan & Associates for insurance done the right way.

The reasons why Business Insurance policy is a necessity is that it protects your business from 3rd party liability, and it also protects your assets from fire, water damage, vandalism, theft etc.   There are premiums that are paid to the Insurance Company; either monthly, quarterly, semi annually, or annually.

Third party liability is when a client, or a prospect gets injured on your premises or near your premises, and demands a monetary amount to help pay for medical bills, and also large amounts of money to help heal the wounds from the injury.  This is a way to protect your business, and or personal assets to purchase Business Insurance Policy, so that you transfer your liability to an Insurance company.

Also, with Business Insurance usually called BOP (Business Owners Policy) you usually get a bundled coverage that you normally would not buy ala carte, nor even think on purchasing. That is why companies bundle coverage, because it’s that it’s looking to attract prospects to buy their product.

With Business Insurance policy you also get contents insurance which you get to choose the amount of contents, keeping in mind that if you pick less amounts than it costs to replace your contents Insurance companies will place co-insurance clause, and you will get hurt monetarily once the clause kicks in.  So when talking to an Insurance agent, ask them if this will affect your co-insurance clause in your policy.

The things that you might get in a Business Owners Insurance policy, which you might not consider on insuring:

1)         Money & Securities

2)         Sewer Back up

3)         Employee Dishonesty

4)         Equipment breakdown

5)         Sign coverage

6)         Loss of Income - check policy for limitations or exclusion (Some companies give up to one year.)

7)         Goods in Transit (very limited coverage)

Please keep in mind that all Insurance companies have their own forms and conditions.  Please read before purchasing a policy so that there is no misunderstanding.

We would like to welcome all to our Blog,  We are presently writing insurance in NY,NJ,CT,PA, NH, VT.  We are the one stop shop for all of your insurance needs.  We write personal auto insurance, personal homeowners insurance, business insurance, contractors insurance, workers compensation insurance, commercial auto insurance, public liability insurance.  Please visit us on our website www.colstan.com .  Or can call us with any questions that need to be answered at 516-944-7520.  Thank you for your interest

Al Stanco pres.

Colstan & Associates.