PDA

View Full Version : Commercial Auto


Eric E
01-18-2012, 10:15 PM
I've been wondering recently...

How many are carrying Commercial Auto Insurance?

I wonder when I see all the family vehicles pulling trailers around. Or the pickups with magnetics. Lately I've seen a lot of trailers hooked up to the bumper, I know my bumper says 500lbs max.

I could save about $100 a month if I put my work vehicle on my personal policy. Of course they will deny any claims on it.

Just wondering.

jvanvliet
01-19-2012, 08:01 AM
Why would you put your commercial vehicle on your personal car insurance knowing the will deny claims on it? :hammerhead:

Tri-City Outdoors
01-19-2012, 06:37 PM
As a business owner you must separate yourself from liability.
We have always had our work truck titled and insured under the company. This way if I cause a 15 car pile-up on 1-4. I personally can not be responsible. This is also true for all of our equipment. (In volusia county) We list all tangible property with the property appraiser and pay a small tax each year. This creates a paper trail showing who own's it.
As far as insurance. We pay $650 for a year for one truck. This gives us a very high body injury liability and property damage coverage. We also carry comprehensive. (tree falling, hitting a deer) However we do not carry collision. If we caused the accident we do not get our truck fixed. However we feel the difference in price for true full coverage is not worth it at this time.

unkownfl
01-19-2012, 09:54 PM
You can. It's called adding your vehicle as business use. You don't need commercial insurance unless you have a dump truck or tractor trailer. My business is worth more than I am. You should speak to your agent about this and whether or not you need it. If they're wrong they have a policy called errors and omissions that will pay.

jvanvliet
01-20-2012, 05:29 PM
As a business owner you must separate yourself from liability.
We have always had our work truck titled and insured under the company. This way if I cause a 15 car pile-up on 1-4. I personally can not be responsible. This is also true for all of our equipment. (In volusia county) We list all tangible property with the property appraiser and pay a small tax each year. This creates a paper trail showing who own's it.
As far as insurance. We pay $650 for a year for one truck. This gives us a very high body injury liability and property damage coverage. We also carry comprehensive. (tree falling, hitting a deer) However we do not carry collision. If we caused the accident we do not get our truck fixed. However we feel the difference in price for true full coverage is not worth it at this time.

Excellent post! Right on, this is a high liability business. People don't realize it until they throw a rock through somebodies window or takes out a pet or a person.

All our equipment is titled to the company & insured; we purchase seperate liability 1million/2million @$900 annually & $300,000 max prop & bodily injury & comp on the trucks & trailers @$1,400 annually. Equipment is on a rider & covered for theft only.

tjlco
01-20-2012, 09:15 PM
was going over insurance today, which kinda confuses the crap outta me. My commercial policy, is at 50/100, with 10/20 UM stacked. Its 4419.00 yearly for 3 trucks two trailers. Is that to little coverage? Am I paying to much? Meanwhile my personal auto went up...and this is the confusing part..3618.00 a year.. 06 BMW and an 11 Armada. Flawless driving record. What the crap

jvanvliet
01-21-2012, 10:29 AM
was going over insurance today, which kinda confuses the crap outta me. My commercial policy, is at 50/100, with 10/20 UM stacked. Its 4419.00 yearly for 3 trucks two trailers. Is that to little coverage? Am I paying to much? Meanwhile my personal auto went up...and this is the confusing part..3618.00 a year.. 06 BMW and an 11 Armada. Flawless driving record. What the crap

Good grief! Sounds like you are being raped. If you want I'll PM you the # of my agent. She's the best, and not on commission so it doesn't matter to her how much you pay.

Florida's Suncoast Lawn Care
01-21-2012, 11:33 AM
As a business owner you must separate yourself from liability.
We have always had our work truck titled and insured under the company. This way if I cause a 15 car pile-up on 1-4. I personally can not be responsible. This is also true for all of our equipment. (In volusia county) We list all tangible property with the property appraiser and pay a small tax each year. This creates a paper trail showing who own's it.
As far as insurance. We pay $650 for a year for one truck. This gives us a very high body injury liability and property damage coverage. We also carry comprehensive. (tree falling, hitting a deer) However we do not carry collision. If we caused the accident we do not get our truck fixed. However we feel the difference in price for true full coverage is not worth it at this time.

What insurance company is this? I'm with Geico right now.

Tri-City Outdoors
01-21-2012, 12:06 PM
MapFre check them out at:

http://www.mapfreflorida.com/

We use great Florida Insurance's local office for our insurance needs.

http://www.greatflorida.com/agentsearch.aspx

The real trick is finding a good agent. It is very similar to finding a good equipment dealer.

People should really ask who is your agent? not What insurance company do you use? or Who is your equipment dealer? not What brand should I buy?

A good agent or dealer should guide you in the direction that gives you the best bang for the buck based on your current needs.

Tri-City Outdoors
01-21-2012, 12:13 PM
What insurance company is this? I'm with Geico right now.

Keep in mind this is an older truck, business use only, and no collision! Typically collision is costly. Also this policy in no way compares to my family's personal policy's which is about 3 or 4 times the price.

unkownfl
01-21-2012, 09:50 PM
If your credit is ok and don't have any suspensions or tickets try State Farm. If you can get mutual rated your insurance should be really cheap.

Landscape Poet
01-22-2012, 10:15 AM
You can. It's called adding your vehicle as business use. You don't need commercial insurance unless you have a dump truck or tractor trailer. My business is worth more than I am. You should speak to your agent about this and whether or not you need it. If they're wrong they have a policy called errors and omissions that will pay.

This is correct.
My wife has worked in insurance going close to 16 years now. If you have your truck listed as business use you are covered. Insurance is a funny thing you really need to check it every couple of years in my opinion for the simple reason that cost can change dramatically between companies. The other thing to consider is this....if you have full coverage.....essentially the company is saying for full coverage they will give you replacement cost of your vehicle at best in most cases....so if you why would it make sense to be paying what you were 4 years ago as obviously the replacement cost has went down significantly each year since you have used it and natural depreciation? Why would you pay them the same to cover less risk???

I personally have Geico right now - why - they have the best possible rating and saved me hundreds a little over a year ago when we compared rates on our existing vehicles. This is the most important aspect IMHO of how to shop for insurance other than your coverage....you need to know the companies ratings.... because all that coverage does not mean anything if they have a history of fighting claims or are not able to afford to pay claims during periods of large activity.

jvanvliet
01-22-2012, 07:51 PM
For anyone that reads this, most national insurance companies are consistently higher cost than other AAA insurance carriers, they have a national presence and so we tend to gravitate towards them ; add to this voracious commission driven agents & we wind up getting taken advantage of.

There's a number of ways to reduce our insurance costs. In this industry, liability is important. That doesn't mean all of us need $1 million + coverage, but we should have some, add to this commercial automotive insurance as well as coverage riders on our trailers and equipment. This is where a good INDEPENDENT insurance agent is essential. They can compare coverage and cost across a broad spectrum of carriers and not feel compelled to pack the pony on "in-house" products to run up the commission. They can make recommendations as to whether or not it makes sense to "pool" all our insurance, home owners, personal automotive, etc with one carrier or obtain separate policies.

Going to Geico, for example, gets you whatever Geico has on the shelf and may not be cost competitive or adequately meet our needs.

I would suggest contacting an independent agent and review your insurance. If you don't know who to contact, my wife is a salaried insurance agent working for an independent. She is not commission drive and will gladly review any ones coverage and be completely honest.

Feel free to PM me and we'll see how you can $ave money and get the coverage that you need.

Landscape Poet
01-22-2012, 10:08 PM
I would suggest contacting an independent agent and review your insurance. If you don't know who to contact, my wife is a salaried insurance agent working for an independent. She is not commission drive and will gladly review any ones coverage and be completely honest.

Feel free to PM me and we'll see how you can $ave money and get the coverage that you need.

Ha, what is with insurance ladies being attracted to lawn turds? What does your old lady do Jvan? Auto, Home, health? Mixture of all the above? Mine is currently doing high value homes underwriting for a company that only handles high value homes, but she has experience in commercial and auto from over the years.

jvanvliet
01-23-2012, 08:06 AM
Ha, what is with insurance ladies being attracted to lawn turds? What does your old lady do Jvan? Auto, Home, health? Mixture of all the above?

It's our good looks, brawny bods and outsanding personalities.

She's an automotive specialist, but will do home & commercial liability also.

unkownfl
01-23-2012, 08:23 PM
Another wife here State Farm

Keith
01-23-2012, 11:11 PM
One of the agents at my Snake Farm is also married to a lawn guy.

jvanvliet
01-24-2012, 07:38 AM
One of the agents at my Snake Farm is also married to a lawn guy.

:laugh: ROLFMAO

It's good to use an independant agent.

Landscape Poet
01-24-2012, 08:16 AM
Real Wives of Lawn Turds and their insurance jobs....next following pawn stars.

Landscape Poet
01-24-2012, 08:17 AM
One of the agents at my Snake Farm is also married to a lawn guy.

Maybe Unknowns wife is the agents wife at your snake farm?

jvanvliet
01-24-2012, 09:06 AM
Maury Povich; Snake Farm and their shocking relationships with Lawn Turds.

Keith
01-24-2012, 02:14 PM
No Michael. I know her husband. Another turd married to an agent.