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New York Commercial Electric Vehicle Insurance Policy Information

NY Commercial Electric Vehicle Insurance

New York Commercial Electric Vehicle Insurance. For countless business owners, transportation plays a vital part in their overall success. Transporting products to clients, meeting with customers, driving clients to and from their locations; no matter what type of business you own, there's no doubt that you rely on transportation to some degree.

New vehicles are constantly being introduced, and a lot of business owners are making a switch to one of the latest innovation in the transportation industry: electric vehicles (EVs).

Not only can EVs help to reduce carbon emissions, but more importantly, they can help to reduce costs and improve productivity; two factors that are particularly beneficial for business owners.

Whether you've recently decided to start using electric vehicles for your business or you're thinking about making the switch sometime in the future, you want to be sure that you have the proper insurance coverage.

Just like traditional combustible engine vehicles, EVs have to be insured. Not sure what type of New York commercial electric vehicle insurance coverage you'll need?

Read on to find out what type of insurance business owners need to invest in for their electric vehicles.

New York commercial electric vehicle insurance protects your EVs used for business from liability and physical damage lawsuits from accidents - with rates as low as $67/mo. Get a fast quote and your insurance card now.

Is There A Difference Between Conventional Business Auto And Electric Vehicle Insurance?

Generally speaking, conventional commercial auto insurance and electric commercial auto insurance are the same in that they offer these policies offer the same type of protections; for instance, both types of policies protect other drivers on the road, as well as third-party property owners.

They can also feature other coverage options; for example, they can be customized to cover the cost of any damaged that your company's electric vehicle may suffer in the event that it's involved in an accident, as well as any medical care that the driver or that any passengers in the vehicle may sustain.

So how does commercial auto insurance for standard vehicles and New York commercial electric vehicle insurance differ? The price.

Typically, NY auto insurance for commercial EVs is more expensive than the cost of coverage for conventional equivalents because of to the need for special parts that aren't as common and the training and availability for servicing.

It is important to note that some insurers offer special discounts to reward businesses who buy eco-friendly vehicles.

How Much Does New York Commercial Electric Vehicle Insurance Cost?

While EVs usually cost more to insure than vehicles that are powered by combustible engines, the price difference really comes down to the company that's providing the insurance coverage. That's because rates vary from company to company.

Therefore, the best way to find out how much New York commercial electric vehicle insurance will cost for your business is by actually reaching out to different companies, getting price quotes, and comparing those quotes.

There are factors that will be taken into consideration that will impact the cost of coverage for the cost of covering a commercial electric vehicle. These factors can include:

  • How long your business has been in operation
  • How many vehicles you'll be insuring under the same policy
  • The make and model of your electric vehicle
  • What kind of industry you will be using your commercial electric vehicles for
  • What type of coverage your policy will offer
  • Where your business is located
  • Your driving record

Why Does NY Commercial Electric Vehicle Insurance Cost More?

Since EVs operate differently from traditional internal combustion engine (ICE) vehicles, they do create some unique issues for business auto insurers such as:

  • Costs of specialized EV parts
  • Expensive car and truck batteries
  • Specialized mechanics needed for service

In the current time, this means New York commercial electric vehicle insurance policies are a little more expensive than standard ICE business insurance polices.

That being said, as more electric vehicles are manufactured, and more parts are available, along with training of services techs - the cost of business auto insurance for EVs will eventually come down.

What Companies Offer New York Commercial Electric Vehicle Insurance?

There are several companies that offer NY EV commercial insurance. Some of the more popular companies include:


Tesla, one of the most popular manufacturers of electric vehicles, has also started offering auto insurance for EVs, but it appears for now only under personal coverage. However, it's important to note that currently, the company only writes polices for some of their vehicles, such as all Model S, Model X, Model 3, Model Y and Roadster owners in California. You can read more here: Tesla Insurance.

The coverage for these vehicles is offered in California for now, with plans to expand to other states. According to Tesla, they decided to start offering insurance coverage for electric vehicles, as they have such an intimate relationship with these vehicles, as they develop and manufacture them.

What Type Of Insurance Coverage Is Available For NY EVs?

The basic protections that New York commercial electric vehicle insurance policies offer the same basic coverages that policies for conventional vehicles provide including:

  • Covered auto liability coverage insures your legal obligations that arise from an accident, including lawsuits and their associated costs. The limits you purchase should be high enough to handle the potentially serious injuries and loss of earnings a victim may sustain.
  • Uninsured and underinsured motorists coverages protect you when you are involved in an accident caused by a driver who has no insurance or insurance with relatively low limits. The limits you select for this coverage should be the same as your liability limits.
  • Physical damage coverage on vehicles directly protects your assets. Comprehensive, Specific Causes of Loss and Collision are the coverage options available. Deductibles should be as high as you can comfortably absorb to maximize the protection provided relative to the premium cost.
  • Medical payments coverage and towing expense costs for private passenger vehicles are other optional coverages to consider.

To find out more about what specialized coverages might be available for commercial EVs, speak with an agent that specializes in commercial auto insurance.

What Are The Minimum New York Commercial Electric Vehicle Insurance Requirements?

Find your state below to see what the NY minimums are for EVs:

Do keep in mind business EV auto insurance limits are usually required to be higher than the state minimums listed below - either by state or federal regulations - or by contract.

State Minimum Required Auto Insurance Limits
Alabama
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Alaska
  • $50,000 bodily injury liability per person
  • $100,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Arizona
  • $15,000 bodily injury liability per person
  • $30,000 bodily injury liability per accident
  • $10,000 property damage liability per accident´╗┐
Arkansas
  • $15,000 bodily injury liability per person
  • $30,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
California
  • $15,000 bodily injury/death liability per person
  • $30,000 bodily injury/death liability to more than one person
  • $5,000 property damage liability per accident
Colorado
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
Connecticut
  • $20,000 bodily injury liability per person
  • $40,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
Delaware
  • $15,000 bodily injury or death per person
  • $25,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
Florida
  • $10,000 property damage liability per accident
  • $10,000 personal injury protection
Georgia
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Hawaii
  • $20,000 bodily injury liability per person
  • $40,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $10,000 personal injury protection
Idaho
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
Illinois
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
Indiana
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Iowa
  • $20,000 bodily injury liability per person
  • $40,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
Kansas
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
Kentucky
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $10,000 personal injury protection
Louisiana
  • $15,000 bodily injury liability per person
  • $30,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Maine
  • $50,000 bodily injury liability per person
  • $100,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $50,000 uninsured motorist coverage per person
  • $100,000 uninsured motorist coverage per accident
  • $2,000 medical payments coverage
Maryland
  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
Massachusetts
  • $20,000 bodily injury liability per person
  • $40,000 bodily injury liability per accident
  • $5,000 property damage liability per accident
  • $20,000 uninsured motorist coverage per person
  • $40,000 uninsured motorist coverage per accident
  • $8,000 personal injury protection
Michigan
  • $20,000 bodily injury liability per person
  • $40,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
Minnesota
  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
  • $40,000 personal injury protection
Mississippi
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Missouri
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
Montana
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident
Nebraska
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
Nevada
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident
New Hampshire
  • Auto insurance is not mandatory in NH. There is no minimum car insurance requirement, but state law does require you to pay for any bodily injury or property damage arising from your operation of a vehicle that you own.
New Jersey
  • $15,000 bodily injury liability per person
  • $30,000 bodily injury liability per accident
  • $5,000 property damage liability per accident
  • $15,000 uninsured motorist bodily injury
New Mexico
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
New York
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $50,000 liability for death per person
  • $100,000 liability for death per accident
  • $10,000 property damage liability per accident
  • $50,000 personal injury protection
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
North Carolina
  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $30,000 uninsured motorist coverage per person
  • $60,000 uninsured motorist coverage per accident
  • $25,000 uninsured motorist property damage coverage per accident
North Dakota
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
  • $30,000 personal injury protection
Ohio
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Oklahoma
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Oregon
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
  • $15,000 personal injury protection
Pennsylvania
  • $15,000 bodily injury liability per person
  • $30,000 bodily injury liability per accident
  • $5,000 property damage liability per accident
  • $5,000 medical benefits
Rhode Island
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
South Carolina
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
  • $25,000 uninsured motorist property damage coverage
South Dakota
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $25,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
Tennessee
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
Texas
  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
Utah
  • $25,000 bodily injury liability per person
  • $65,000 bodily injury liability per accident
  • $15,000 property damage liability per accident
  • $3,000 personal injury protection
Virginia
  • VA has special conditions around auto insurance. You do not necessarily have to buy auto insurance, according to the DMV, Virginia law requires that all drivers have a way to pay for injuries or property damage resulting from a car accident.
Vermont
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $50,000 uninsured/underinsured motorist coverage per person
  • $100,000 uninsured/underinsured motorist coverage per accident
  • $10,000 uninsured/underinsured motorist property damage coverage per accident
Washington
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
Washington D.C.
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $20,000 uninsured/underinsured motorist coverage per person
  • $50,000 uninsured/underinsured motorist coverage per accident
  • $5,000 uninsured/underinsured motorist property damage coverage per accident
West Virginia
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
Wisconsin
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident
Wyoming
  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident


New York Commercial Electric Vehicle Insurance - The Bottom Line

There is no doubt that EVs will become more and more popular as they offer an environmentally friendlier way to drive, quieter engines and less carbon dioxide pollution.

To find out more about the specific types of New York commercial electric vehicle insurance coverages you'll need, and how much coverage you should carry and the related premium costs, consult with a reputable broker that is experienced in commercial business auto insurance.

New York Economic Data And Commercial Insurance Requirements

The State of New York is famed for industry, particularly Manhattan and the surrounding areas. As such, it's no wonder why so many entrepreneurs look to do business in this state.

If you are thinking about starting up a business in NY, it's important for you to have an understanding of the status of the state, regarding its economy. It's also important to know about the insurance requirements for business owners in the Empire state.

Made In New York

Below, we offer a brief overview of New York's economic status, as well as the types of insurance policies business owners are legally required to carry, and policies that they should consider investing in.

The Economic Status Of New York State

While the economy is growing in the State of New York, it is lagging behind other states, in terms of growth. Overall, more jobs have been added in this state in recent years. In 2018, it is expected that this trend in job growth will continue; however, it will likely be at a slower pace than previous years.

If you are thinking about doing business in the Empire State, one of the best industries to consider is finance. It is predicted that this sector will contribute largely to the economy in 2022, as well as in the coming years. Healthcare services and education are also expected to see growth, as are the transportation industry, and professional and business services.

Insurance Requirements For Business Owners In NY

The New York State Department of Financial Services regulates insurance in the Empire State. Organizations that employ a staff of part-time or full-time workers that are either hourly or salaried are required to carry workers' compensation insurance. This type of insurance is required, no matter what size your staff is; even if it only consists of one W2 salaried person. You must also carry NY commercial auto insurance if you are using a vehicle to conduct any business affairs.

While there are no mandates surrounding commercial liability insurance, business owners in New York would be wise to invest in this type of coverage. Should a client or a contractor sue you for an accident or injury that happens at your place of work, or if a client claims you damaged his or her property, commercial liability insurance will protect you from having to pay the cost of legal fees and any settlements that may be awarded out of your own pocket.

Additional Resources For Small Business Insurance

Protect your company and employees with the right commercial insurance policies. Read informative articles on small business insurance coverages - and how they can help shield your company from legal liabilities.


Small Business Commercial Insurance

Your small business faces many potential disasters including: fire, floods, theft, equipment breakdown, lawsuits from clients or customers and current & former employees. Any many other risks you haven't even thought about.

A small business commercial insurance program should provide protection for both larger and smaller disasters. The obvious things like fire, flood and theft most business owners think about... but what if a hacker infects your computers with a virus - and files containing private customer information like credit card and Social Security numbers are stolen?

Who is going to pay to fix your customers credit rating etc...? Will your insurance pay for the cost? You need to know that.

Your commercial insurance program should cover events that can close down your company, or cause it to lose revenue. Anything less than that is not enough coverage. Commmercial insurance doesn't cover everything, and all policies have exclusions and limits.

You need a written plan that allows you to get your operations back up and running as quick as possible.


Request a free New York Commercial Electric Vehicle insurance quote in Airmont, Albany, Albion, Amityville, Amsterdam, Auburn, Babylon, Baldwinsville, Ballston Spa, Batavia, Bath, Bayville, Beacon, Binghamton, Briarcliff Manor, Brockport, Bronxville, Buffalo, Canandaigua, Canton, Cedarhurst, Chestnut Ridge, Cohoes, Colonie, Corning, Cortland, Croton-on-Hudson, Depew, Dobbs Ferry, Dunkirk, East Aurora, East Hills, East Rochester, East Rockaway, Elmira, Endicott, Fairport, Farmingdale, Floral Park, Fredonia, Freeport, Fulton, Garden City, Geneseo, Geneva, Glen Cove, Glens Falls, Gloversville, Goshen, Great Neck Plaza, Great Neck, Hamburg, Harrison, Hastings-on-Hudson, Haverstraw, Hempstead, Herkimer, Hilton, Hornell, Horseheads, Hudson Falls, Hudson, Ilion, Irvington, Ithaca, Jamestown, Johnson City, Johnstown, Kenmore, Kingston, Kiryas Joel, Lackawanna, Lake Grove, Lancaster, Larchmont, Lawrence, Lindenhurst, Lockport, Long Beach, Lynbrook, Malone, Malverne, Mamaroneck, Manorhaven, Massapequa Park, Massena, Mechanicville, Medina, Middletown, Mineola, Monroe, Monticello, Mount Kisco, Mount Vernon, New Hyde Park, New Paltz, New Rochelle, New Square, New York, Newark, Newburgh, Niagara Falls, North Syracuse, North Tonawanda, Northport, Norwich, Nyack, Ogdensburg, Olean, Oneida, Oneonta, Ossining, Oswego, Patchogue, Peekskill, Pelham Manor, Pelham, Plattsburgh, Pleasantville, Port Chester, Port Jefferson, Port Jervis, Potsdam, Poughkeepsie, Rensselaer, Rochester, Rockville Centre, Rome, Rye Brook, Rye, Salamanca, Saranac Lake, Saratoga Springs, Scarsdale, Schenectady, Scotia, Seneca Falls, Sleepy Hollow, Solvay, Spring Valley, Suffern, Syracuse, Tarrytown, Tonawanda, Troy, Tuckahoe, Utica, Valley Stream, Walden, Wappingers Falls, Warwick, Washingtonville, Waterloo, Watertown, Watervliet, Webster, Wesley Hills, West Haverstraw, Westbury, White Plains, Williamsville, Williston Park, Woodbury, Yonkers including the neighborhoods in the Five Boroughs of New York City (Bronx, Brooklyn, Manhattan, Queens, and Staten Island):

Borough Park, Bronx Park and Fordham, Brooklyn, Bushwick and Williamsburg, Canarsie and Flatlands, Central Brooklyn, Central Harlem, Central Queens, Chelsea and Clinton, East Harlem, East New York and New Lots, Flatbush, Gramercy Park and Murray Hill, Greenpoint, Greenwich Village and Soho, High Bridge and Morrisania, Hunts Point and Mott Haven, Inwood and Washington Heights, Jamaica, Kingsbridge and Riverdale, Lower East Side, Lower Manhattan, Manhattan, Mid-Island, North Queens, Northeast Bronx, Northeast Queens, Northwest Brooklyn, Northwest Queens, Port Richmond, Queens, Rockaways, South Shore, Southeast Bronx, Southeast Queens, Southern Brooklyn, Southwest Brooklyn, Southwest Queens, Stapleton and St. George, Staten Island, Sunset Park, Upper East Side, Upper West Side, West Central Queens, West Queens and all other NY cities & New York counties near me in The Empire State.

Also find NY local small businesses by General Liability Class Code and learn about New York small business insurance requirements for general liability, business property, commercial auto & workers compensation including NY business insurance costs. Call us (212) 235-2003.

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