New Hampshire Commercial Van Insurance Policy Information
New Hampshire Commercial Van Insurance. If you operate a van in the course of doing business, then you must make sure that your commercial van insurance protects you from losses resulting from claims, accidents and injuries you or your employees may cause. Vans are used widely across a number of industries, including by rental companies, florists, caterers, restaurants, and others.
If you own one van or even a fleet of commercial vans, it is important to get the appropriate level and type of New Hampshire commercial van insurance on your cargo van. The coverage needed depends largely on the number of vans you own, whether you drive out of state or in-state only, and how you use your vans in the business.
New Hampshire commercial van insurance helps your business cover medical and liability costs from an accident- with rates as low as $97/mo. Get a fast quote and your proof of insurance now.
New Hampshire commercial van insurance is generally written based on the specific use of the van, what the van is used for hauling, and whether or not you cross state lines during the course of transacting business and making deliveries. By contrast, personal vehicle insurance is for owners who use their vans in non-commercial settings. If you do use your personal vehicle for business purposes, then there's a good chance that your insurer will not cover any accidents that occur during its business use.
There are several types of commercial vans that your business may use. These include box vans, cargo vans, step vans and refrigerated vans. There are also passenger and courier vans. Each of these vans has unique properties and different applications, but all of them have one thing in common: they are used commercially and require New Hampshire commercial van insurance to protect your business from unmitigated risks.
Choosing Commercial Van Insurance
A variety of scenarios exist that necessitate buying NH commercial van insurance. Here are some of the most popular, although your situation may be slightly different:
- You are the owner of a business that offers a service that requires deliveries. This might be a flower shop, a bakery, or a company that rents equipment. You make deliveries in your van to customer's venues.
- You are the owner of a commercial business that hires employees to transport people or make deliveries.
- You are a plumber, carpet installer, painter or some other type of contractor working from home. You use your van to haul items to your job site.
- You deliver documents or packages around your area using a van and work as a courier.
- You are a contractor who contracts your van out to make deliveries.
- You rent your van as part of your business.
- You own a fleet of vans that transport passengers to the airport.
- You own a daycare facility that picks up and drops off children.
- Your church uses its van to transport parishioners to service.
For all of these scenarios, New Hampshire commercial van insurance is an important purchase. It provides insurance protection for you, your passenger, and any contents that you haul. When compared to personal auto insurance, you can choose higher limits for your commercial insurance, and with those higher limits, you can protect your business financially if you or an employee cause an accident that results in property damage or bodily harm to another person.
Hazardous materials, valuable goods, passengers, and employees can all be involved in commercial accidents. Your insurance should be able to cover any expenses involved in repairing or replacing the van, lost cargo, medical costs, and legal costs to defend the business if someone files a claim against you.
What Type of Commercial Van Insurance Do You Need?
The type of New Hampshire commercial van insurance and the limits set by your specific policy should be based on several factors, including whether or not you are a contractor or a business owner. You should also tailor your policy around the particular requirements and laws in your state, since they vary widely. There is typically a minimum mandated coverage amount and type for commercial vans, and each state department of insurance or your insurance agent can help you determine the right level and type of coverage for your particular needs.
Although every business owner's situation is different, a typical commercial van insurance policy generally offers:
- Bodily injury liability coverage. This covers expenses incurred by injured persons if you or someone in your employ is found to be at fault for an accident in your commercial van.
- Property damage coverage. If the driver of your commercial van damages the property of someone else, this coverage pays.
- Collision insurance. This type of coverage handles repairs to your own vehicle following an accident. It covers costs regardless of fault.
- Comprehensive insurance. This insurance covers all non-collision damage. For example, theft, weather-related damage and damage from vandalism.
- Medical payment coverage. The driver and passengers in your commercial van are covered under this type of policy.
- Uninsured or underinsured motorist's policy. If someone with inadequate or no insurance hits your commercial van, this policy makes up the insurance coverage shortfall.
Buying Your Commercial Van Policy
When you purchase New Hampshire commercial van insurance, any compensation that you receive following a covered event depends on the event, the amount of your loss, the deductible on the policy, and the type of coverage your purchase. You may want to consider an umbrella policy if the limits on your policy do not fully cover your potential risks as a business owner. Discuss your situation with a knowledgeable insurance agent to find out if your policy is sufficient for your needs.
New Hampshire Economic Data, Regulations And Limits On Commercial Insurance
You have an entrepreneurial spirit and a great idea for a business, now you just need to decide on a location for your headquarters. Before you pick a location, it's important to take several factors into consideration and weigh your options.
If the area doesn't offer a market that the products and/or services you intend on offering will appeal to, and the overall economic climate isn't healthy enough to support a business, there's a good chance you aren't going to achieve the success you desire.
How can you determine where to set up shop? By assessing the economic trends of a location, as the economy of an area offers good insight about the potential for success. Additionally, you should consider the commercial insurance requirements of an geographic location so that you know what type of policies you'll need to have in place.
If you're thinking about starting a business in New Hampshire, read on for an overview of the state's economic trends and mandated commercial insurance policies.
Economic Trends For Business Owners In New Hampshire
As of December, 2019, the unemployment rate in the Granite State was 2.6%, which was 0.9% below the national average of 3.5%. This statistic indicates that the economy of New Hampshire is healthy, as there are enough job opportunities to support the residents of the state, and those employment opportunities directly reflect the health of businesses in the state.
Additionally, New Hampshire offers a diverse workforce that is comprised of individuals from varied backgrounds, so prospective business owners should have ample opportunities to secure employment for their organizations.
In addition to the low unemployment rate, the Granite State offers many other features that will appeal to business owners; low taxes, an above-average per capita personal income, and the close proximity to large regional markets, just to name a few.
While businesses of varying sizes and in various industries can find success in the state of New Hampshire, there are some sectors that show particular promise. The leading industries in the state are as follows:
- Bio Science and health care
- High-tech manufacturing
- Hospitality and tourism
The best locations for business owners within NH include metropolitan regions and the surrounding areas. This includes Portsmouth, Portland, Concord, Derry, and Londonderry.
Commercial Insurance Requirements In New Hampshire
The New Hampshire Insurance Department regulates insurance in NH. New Hampshire mandates very few forms of insurance coverage by law. They enforce worker's compensation.
New Hampshire requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
New Hampshire also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Commercial Auto Insurance
Learn about small business commercial auto insurance which includes liability and physical damage protection for vehicles that are used for business purposes.
- Insurance Automotive Terms Glossary
- Amazon Delivery Drivers
- Ambulance Services
- Big Rig Truck
- Bobtail Non-Trucking Liability
- Charter And Tour Bus
- Commercial Auto
- Commercial Auto Liability
- Commercial Electric Vehicle Insurance
- Commercial Van
- DoorDash, GrubHub & Uber Eats Drivers
- Dump Truck
- Food Truck
- Freight Forwarder
- Household Goods Moving
- Motor Truck Cargo
- Non-Owned And Hired Auto Liability
- Owner Operator
- Pizza Delivery
- Tow Truck
- What Are Commercial Auto Insurance Endorsements?
- What Does Commercial Auto Physical Damage Insurance Cover?
The person injured in an vehicle accident may be a child, a wage earning single parent, a brain surgeon, or even a homeless person. The costs of the accident may be relatively small or run into the millions of dollars, depending on the victim and his or her injuries. Do you have the assets to handle such costs?
Trucking operations in this chapter are among the most heavily regulated in the country. All are subject to multiple types of regulation including municipal, state and federal. The regulations are necessary because potential for severe property damage and/or bodily injury is extremely high.
All carry cargo that if not handled appropriately could have serious consequences to the cargo owner and/or the public at large. Those that carry people must prove that they keep their equipment in good condition and that employees operate in a safe, sober manner.
The insurance company pays amounts an insured is legally obligated to pay as damages because of bodily injury or property damage and certain types of pollution events covered by this insurance caused by an accident and resulting from ownership, maintenance or use of covered vehicles.
The obligation to pay is triggered only by accidental occurrences involving vehicles covered under the Business Auto Coverage Form. An eligible pollution event is covered only if it is connected to a covered bodily injury or property damage loss.
It is important that you have the proper Limit of Insurance to protect your operations. This limit is the most the insurance company pays for the total of all damages, including any covered pollution cost or expense resulting from any one covered accident, is the Covered Auto liability limit of insurance on the declarations.
This limit applies regardless of the number of insureds, autos covered, vehicles involved in an accident, premium paid, or number of claims made.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income and Extra Expense, Accounts Receivables, Computers, Motor Truck Cargo, Valuable Papers and Records, Employee Dishonesty, Money and Securities, General Liability, Employee Benefits, Umbrella, Motor Carriers Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Flood, Mobile Equipment, Signs, Warehouse Operators' Legal Liability, Cyber Liability, Employment-related Practices, Environmental Impairment, Underground Storage Tank, Stop Gap Liability and International Coverages.
Request a free New Hampshire Commercial Van insurance quote in Allenstown, Alton, Amherst, Atkinson, Auburn, Barnstead, Barrington, Bedford, Belmont, Berlin, Boscawen, Bow, Brentwood, Brookline, Canaan, Candia, Charlestown, Chester, Claremont, Concord, Conway, Danville, Deerfield, Derry, Dover, Durham, Enfield, Epping, Epsom, Exeter, Farmington, Franklin, Fremont, Gilford, Goffstown, Greenland, Hampstead, Hampton, Hanover, Haverhill, Henniker, Hillsborough, Hinsdale, Hollis, Hooksett, Hopkinton, Hudson, Jaffrey, Keene, Kingston, Laconia, Lebanon, Lee, Litchfield, Littleton, Londonderry, Loudon, Manchester, Meredith, Merrimack, Milford, Milton, Moultonborough, Nashua, New Boston, New Ipswich, New London, Newmarket, Newport, Newton, North Hampton, Northfield, Northwood, Nottingham, Ossipee, Pelham, Pembroke, Peterborough, Pittsfield, Plaistow, Plymouth, Portsmouth, Raymond, Rindge, Rochester, Rye, Salem, Sandown, Seabrook, Somersworth, Strafford, Stratham, Swanzey, Wakefield, Walpole, Weare, Wilton, Winchester, Windham, Wolfeboro and all other NH cities & New Hampshire counties near me in The Granite State.
Also find NH local small businesses by General Liability Class Code and learn about New Hampshire small business insurance requirements for general liability, business property, commercial auto & workers compensation including NH business insurance costs. Call us (603) 601-4771.
Federal Motor Carrier Safety Administration Information
- Federal Motor Carrier Safety Administration (FMCSA) - The Federal Motor Carrier Safety Administration's primary mission is to prevent commercial motor vehicle-related fatalities and injuries.
- Safer System - The FMCSA Safety and Fitness Electronic Records (SAFER) System offers company safety data and related services to industry and the public over the Internet. Users can search FMCSA databases, register for a USDOT number, pay fines online, order company safety profiles, challenge FMCSA data using the DataQs system, access the Hazardous Material Route registry, obtain National Crash and Out of Service rates for Hazmat Permit Registration, get printable registration forms and find information about other FMCSA Information Systems.
- FMCSA Forms - All forms needed for the Federal Motor Carrier Safety Administration.
- Update MCS 150 - Form MCS-150 and Instructions - Motor Carrier Identification Report.
- How does CSA work? - CSA (Compliance - Safety - Accountability) re-engineers the former enforcement and compliance process to provide a better view into how well large commercial motor vehicle carriers and drivers are complying with safety rules, and to intervene earlier with those who are not.