Auto Insurance for Work Trucks and Commercial Vans
You’ll need insurance for your work trucks, vans, or other vehicles used for your contractor business — but you also need the right type of insurance. A Commercial Auto Insurance policy provides coverage specifically for vehicles used for your business. Your personal auto policy doesn’t cover most business-related activities, possibly leaving you vulnerable to a lawsuit if you are involved in an auto accident. Commercial vehicle accidents involving injuries can be particularly expensive. Medical coverage for yourself and your passengers is usually included with your policy. Medical coverage options vary by state. Much like your personal auto policy, your Commercial Auto Insurance provides an option to cover damage to your work vehicles as well.
Workers’ Compensation and Other Essential Coverages
If you have employees or subcontractors, you’ll likely need to purchase Workers’ Comp coverage to be compliant with state requirements. If you’re a subcontractor, you may be required to carry Workers’ Comp coverage by the contractor or it may be a requirement of the contract to meet the client’s needs.
Professional Liability Insurance is another commonly chosen policy which provides coverage for losses due to errors made by you or your employees, as well as by subcontractors or third-party specialists you may hire, such as engineers.
Surety Bonds may be required for certain projects, such as public sector projects or for larger private sector projects. A surety bond ensures the project’s completion and adherence to the contract terms.
Health insurance, employment liability insurance, business property insurance, and inland marine insurance, which protects property in transit by truck or van, are all other common coverages chosen by contractors. CoverWallet gives you the freedom to bundle the insurance coverages you need into one convenient Commercial Package Policy that makes your coverage easy to manage and saves money by bundling with one insurer.
Whether you’re an independent contractor or have a larger team, getting covered is easy. Just reach out to CoverWallet’s team of trusted insurance agents for a fast, no-obligation quote.