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Commercial Insurance Q

Discussion in 'Business Fundamentals' started by cjasonbr, Sep 1, 2006.

  1. cjasonbr

    cjasonbr Senior Member
    from Mass
    Messages: 635

    So the lady at the RMV tells me "If you're going to be doing any kind of business with your truck you need commercial plates". So i go to my insurance Co. and the lady says that my commercial insurance at the same coverages as my personal will be $1600 opposed to the $3000+ that it was with personal. She says that's because commercial doesn't count your surcharge points. Great i say...... so she calls the underwriter (commerce) and comes back and says, "The only way we can write you a policy for commerical plates is if you go with the million dollar coverage." She says that if i want any less coverage then i can just go with a personal policy. She said that the a million dollars is the only amount that personal does not offer, so that's why they'd be willing to write me the commercial policy.

    Well even an idiot would say, well i can get a personal policy with 3/4 million in coverage for 4k or a commercial policy for a full million for 2.6k.... hmmmmm. So i think that they were BSing me to get the most $$$ out of me they could because they were losing $ by me switching to commercial......

    What do you guys think... i thought that if you were doing commercial plowing, you had to have commercial plates...... the insurance lady said that wasn;t the case :confused:
  2. Ramairfreak98ss

    Ramairfreak98ss PlowSite.com Addict
    Messages: 1,931

    im running into this crap now for my business :realmad:
  3. Ramairfreak98ss

    Ramairfreak98ss PlowSite.com Addict
    Messages: 1,931

    im running into this crap now for my business :realmad:

    but theyre stating in NJ my personal policy wont cover my truck in an accident even if i dont even have a sign on it or anything and is only used one day per week... i dont even know for 100% sure ill buy a new truck and plow this year yet...
  4. Robbie Rooster

    Robbie Rooster Member
    Messages: 33

    Every state will have different laws and you will receive 50 different answers. The issue I ran into was I need my truck for business and personal. Here, commerical policies are way higher price than personal. If I went commercial, I would have no coverage when pulling my travel trailer, boat, ect. I am on a personal policy with the trucks listed as business vehichles, I carry gen bus liability ins for 1 mil and I also have a 1 mil umbrella over all the policies, auto, business, trailers, plows, lawn equip, life policies, wife's daycare.