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Insurance ???

GM - 2007-11-25 20:09:26 - Insurance Registration

how to put commercial-Insurance on my truck, for my company when the truck is in my name and my state is nh and we do not have commercial-plates in this state and will i better with c-insurance than paying inexperience driver on my insurance on my truck which is a 1994 gmc SS 454 7.4l v8 big block one ton truck with all of the options,the truck books for $15,000 how much is Insurance for this truck worth

Best Answer:

You can get commercial auto insurance in your person name if it is commercial use. Sounds like it is. Also, it sounds like the truck is over 10,000 GVW if it is, it does not qualify for personal auto insurance. Call your agent find out. You may have to put your business name on the vehicle to get a commercial package. Otherwise you will probably have to get the policy with Progessive on their business auto policy. Your young driver will still need to be listed on your personal insurance (if you have another personal use vehicle), so there really is no getting around that.

Answers:

You have to either declare the truck a commercial usage - which means, a higher rating than private passenger usage - or start a corporation and sign the truck over to your corporation. Lots and lots of people have tried to get around surcharges and youthful drivers, by putting a private vehicle on a commercial policy. It hasn't been done in New England, in YEARS, because 1. a company that offers commercial coverage isn't going to give it on a vehicle with an operator under 25, without a 25% surcharge and 2. they require that the vehicle be classed as commercial (031) or delivery (021) in order to be able to be written - NOT service use, the cheapest class. Sorry, it's not going to work.

You can get commercial auto insurance in your person name if it is commercial use. Sounds like it is. Also, it sounds like the truck is over 10,000 GVW if it is, it does not qualify for personal auto insurance. Call your agent find out. You may have to put your business name on the vehicle to get a commercial package. Otherwise you will probably have to get the policy with Progessive on their business auto policy. Your young driver will still need to be listed on your personal insurance (if you have another personal use vehicle), so there really is no getting around that.

FROM PAST EXPERIENCE IT WILL DOUBLE AT LEAST.

Depending on your age the premium for a youthful driver may be more than commercial insurance. The use of the vehicle is the important factor, not the tag. Here's what can happen if you do nothing. If you have a claim, your personal auto insurance can deny coverage because you are using your vehicle for business. It's right there on the policy under the "exclusions." Those guys delivering Pizzas with their cars? Essentially un insured. Same goes for you under a Personal Auto Policy. Go see a couple of different agents. While you are there you may as well get a quote for your work (contractor of some sort I assume) Most places have payment plans. You arent alone, its a step toward running your business right. It will help you with sales to show your customers that you have insurance in case anything goes wrong on the job. Don't let the price scare you into a disaster! I've dealt with people in your situation many times and we almost always find a way to make it work out just fine.