If you operate a business in or around Albany, NY, it’s essential to be cognizant of the Empire State’s commercial auto insurance requirements. Commercial insurance isn’t necessary if your vehicle only serves for commutation purposes, i.e., travel to and from work. However, its significance becomes paramount in cases where the vehicle’s purpose extends to goods transfer, procuring supplies, or employee usage.
What are New York’s Commercial Auto Insurance Requirements?
There are several commercial auto insurance policies you need to adhere to when using a car for business purposes in New York. The first requisite is property damage liability coverage, which is expected to cover up to $10,000 per individual incident. Subsequently, bodily injury insurance becomes a necessity, covering at least $25,000 per person for bodily injuries and $50,000 per person in the unfortunate event of one or more fatalities. Further, New York drivers must opt for a personal injury protection policy, which provides coverage for medical expenses regardless of who instigated the accident.
Remembering that the state isn’t the sole entity dictating commercial auto insurance requirements is crucial. Obligations might arise for acquiring alternate forms of commercial auto insurance if you are renting, leasing, or in the process of paying off a vehicle. Additional insurance requirements are also in place for vehicles like tractor-trailers and semi-trucks.
Contact Toedt Insurance Agency LLC for Exceptional Commercial Auto Insurance Policy Choices
If you’re on the hunt for superior commercial auto insurance policy options for one or more of your business vehicles, don’t hesitate to place a call at your convenience. Toedt Insurance Agency LLC actively extends its services to business owners in and around Albany, NY, providing singular policies and policy bundles tailored to accommodate businesses of varying sizes and industries.
