New Hampshire Commercial Auto Insurance
Many companies in Amherst and the surrounding towns rely on the vehicles as an integral part of their business. Goods need to be delivered, contractors need to pick up supplies and get to job sites and face-to-face meetings need to occur (regardless of how heavily we rely on the internet). Without a truck or vehicle, where would your business be? Are you confident that the vehicle you use in business is insured correctly to give you and your business the protection you need when you need it should an accident occur? Whether or not your company owns vehicles, if you or an employee's vehicle is used for company business and is involved in an accident, your business could be held responsible for the damages. This could include both property damage and bodily injury! This risk is real, especially in New Hampshire's long and slippery winter season where we rely so heavily on our cars to get around. NH Commercial auto insurance is a way to help protect your business.
Commercial Auto Insurance in Amherst, NH
Much like personal auto coverage, commercial auto insurance can help cover your company's owned or operated vehicles if there is an accident. While not required by law in New Hampshire, this type of policy can provide significant protection for your Amherst business. Standard policy options include:
Liability coverage: includes both bodily injury and property damage if you cause where you are legally obligated to pay, including hospital and medical bills, pain and suffering and lost earning.
Medical payments: can covers the cost of treatment you receive from a medical provider
Uninsured motorist (UM)/Underinsured motorist (UIM): Given car insurance is not mandatory in NH, UM and UIM can be a critical protection for your business as it can pay for medical expenses, lost wages and pain and suffering that result from an accident caused by a driver who is uninsured. UIM can pay for medical expenses from an accident caused by a driver who has too little insurance to cover all the injuries including medical bills, lost wages and pain and suffering.
Collision: provides coverage for your vehicle if it collides with another object (excluding an animal) or overturns.
Comprehensive: provides coverage to your vehicle if damaged by something other than a collision including fire, theft, vandalism, hail, glass breaking and collision with an animal.
Rental Reimbursement: should you need to rent a vehicle while your vehicle is being repaired/replaced due to a covered loss.
Hired non-owned coverage: can extend coverage to an employee-owned vehicle if deemed loss occurred while conducting company business.
Commercial Auto Insurance vs. Personal Auto Insurance
Many business owners use their vehicles both commercially and personally, so what type of policy should you have? This answer will depend on several factors that should be discussed with an insurance professional. These factors can include:
- How is the vehicle titled and registered?
- Who drives the vehicle? (You, employees, family members?)
- How is the vehicle used? (Multiple job sites or appointments per day? Delivery of goods or livery?)
- What type of vehicle?
- Do you have liability limit requirements?
Determining the usage is critical however as many personal auto insurance policies will exclude any type of business activity as well as have limits on the amount of liability coverage offered as well as vehicle weight limits.
New Hampshire Insurance Requirements:
New Hampshire is one of the few states in the country that does not explicitly require vehicle owners to obtain auto insurance when a vehicle is registered. However, not having insurance could be financially devastating due to the fact that just because you are not required to have insurance, does not mean you would not be required to pay should your company be held legally responsible for an at-fault accident.
Why contact HPM Insurance to handle your Amherst Commercial Auto Insurance?
- We take the time to explain the coverage so you understand what you are buying or currently have in place. There may be an opportunity to reduce your costs and expand your coverage.
- It is FREE to get a quote!
- It's easy to get a no-risk quote. Simply fill out this short form and we'll get back to you within one business day with a surprisingly affordable Commercial Vehicle Insurance quote.
If you have a business in Bedford, NH or Milford, NH check out our pages regarding business auto insurance for these communities.