Commercial Auto/Truck Insurance
A commercial automobile insurance policy is required
under most circumstances when the vehicle is used for business purposes
and meets certain other requirements. It is not just the registration
that determines the requirement for a business automobile insurance
policy. Other requirements are ownership by a corporation, use in hauling
goods for hire, and gross vehicle weight of the vehicle. Some small
trucks can be owned and insured under a personal automobile insurance
policy under specific circumstances.
Commercial automobile insurance policies are not regulated in pricing, as are
private passenger policies. There is price competition between insurance companies
for good commercial automobile insurance.
