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GreenMatters716
03-21-2011, 08:11 PM
Hey everyone! First year in the Biz and was wondering If I need commercial plates on my truck and do I need commercial business auto insurance? If so does it cost a lot more than personal insurance?

Hedgemaster
03-21-2011, 08:25 PM
It MAY depend on your location, so take this info with a grain of salt like any info you get for free on teh interwebs...


Per my Allstate auto insurance agent AND my commercial liability agent:
(I wanted to be 100% clear on this, so I asked both, as my commercial agent also does Erie auto ins)

If the vehicle is in YOUR name, no changes to the policy are required, nor does it affect your rates - nothing changes. It's still the same policy and yes, the truck is covered if "on the job", or going from one job to the next, or while out with the wife and kids - same as it was before.

If you are a LLC, or other type of company, it may be different. The above info is for a sole proprietorship.

I was told that if I title my truck under a company name, OR have any employees who will drive it, I need to then have a commercial vehicle policy.

Hope that helps.

GreenMatters716
03-21-2011, 08:30 PM
Im sole proprietorship with no employees and truck is in my name.

Hedgemaster
03-21-2011, 08:35 PM
Here's an idea...

When I started into this in the fall, I worried that my rates would go up if i were using the truck for business purposes - I delayed contacting my agent for that reason.

If you're worried about the same thing, call another insurance company and ask them questions. That way, your current agent will be none the wiser, if my info does not hold true where you are located.

For me, it turned out I worried over nothing.

poolplayer
03-21-2011, 08:46 PM
Here's an idea...

When I started into this in the fall, I worried that my rates would go up if i were using the truck for business purposes - I delayed contacting my agent for that reason.

If you're worried about the same thing, call another insurance company and ask them questions. That way, your current agent will be none the wiser, if my info does not hold true where you are located.

For me, it turned out I worried over nothing.

i have commercial insurance on my truck and it worked out being cheaper than regular insurance and i have more coverage with the commercial policy

Hedgemaster
03-21-2011, 09:46 PM
i have commercial insurance on my truck and it worked out being cheaper than regular insurance and i have more coverage with the commercial policy

Good to know.

Can you still use it as your "daily driver" and be covered, or is it only to be used for work in order to be covered?

I ask because mine is my daily driver as well.

poolplayer
03-21-2011, 09:57 PM
Good to know.

Can you still use it as your "daily driver" and be covered, or is it only to be used for work in order to be covered?

I ask because mine is my daily driver as well.

only catch to commercial insurance is anyone who will drive your vehicle must be added as a driver. every one in my family is listed on my policy with no change in cost, but we all have good driving records too. my insurance is through citizens i found them to be the least expensive for me.

psparaco
03-21-2011, 10:03 PM
I have my personal auto insurance for my truck. My agent even told me i do not need additional insurance for my trailer as long as its hooked up to my truck, its covered along with the truck insurance. While its unhooked in my driveway my home owner's insurance covers damages to it.

poolplayer
03-21-2011, 10:09 PM
I have my personal auto insurance for my truck. My agent even told me i do not need additional insurance for my trailer as long as its hooked up to my truck, its covered along with the truck insurance. While its unhooked in my driveway my home owner's insurance covers damages to it.

that covers your trailer when its connected but not the contents, my homeowners doesnt cover a trailer or any item used for business, like commercial mowers. i would check on that i have a trailer i keep in my garage and its not covered by my homeowners i have a rider on my truck insurance for when its not connected

Hedgemaster
03-21-2011, 10:45 PM
Another concern with using your homeowners policy to cover you junk while on your property is the fact that they may drop you like a hot potato if you file a claim. Homeowners policies can be crappy like that.

I'd prefer to keep my homeowners policy for bad stuff that happens to my house. Eventually, I'm adding a rider to my commercial policy to cover my equipment while stored at home. It's not that much more.

GreenMatters716
03-22-2011, 02:41 PM
Thanks so much guys!

Steve
03-23-2011, 11:47 AM
Keep us posted on what you decide to go with and why you chose them.