I own a 1999 Plymouth van and want to start a courier business. Is commercial insurance expensive?
I will be a one man operation until I can pick up some business. I am bonded and will provide notary service in addition to courier and confinement services. I will not be dealing in securities.
Answers:
Yes, if you're NOT going to residential homes, the liability alone on it usually runs about $4,000 a year. If you run to residences, dropping off or picking up, it's closer to $6,000.
Plus, as a public carrier, you're subject to PUC filings - and will be REQUIRED to own cargo coverage (there might be a few exceptions in some states that I don't know about). The luggage policy will start at $1,000 including your PUC filing.
All this, assuming you're working in underneath a 25 mile radius, and not crossing a state line.
You can't do this on a private passenger policy, as it's excluded under every pp form I've ever see. Source(s): agent, 21+ years
It will be more expensive than personal auto. As a new business, you may have difficulty getting any preferred companies to look at you and courier services are big risk even for commercial auto.
Depending on what state you're in and your driving record, I'd look at 200-300 per month for a array of 100 miles from your garage address. A few years is business and cost could go down if you're a clean driver. Call the independent agent who handle your home & auto.
Good luck Source(s): http://ohio-insurance-forum.blogspot.com…
Related Questions:
Answers:
Yes, if you're NOT going to residential homes, the liability alone on it usually runs about $4,000 a year. If you run to residences, dropping off or picking up, it's closer to $6,000.
Plus, as a public carrier, you're subject to PUC filings - and will be REQUIRED to own cargo coverage (there might be a few exceptions in some states that I don't know about). The luggage policy will start at $1,000 including your PUC filing.
All this, assuming you're working in underneath a 25 mile radius, and not crossing a state line.
You can't do this on a private passenger policy, as it's excluded under every pp form I've ever see. Source(s): agent, 21+ years
It will be more expensive than personal auto. As a new business, you may have difficulty getting any preferred companies to look at you and courier services are big risk even for commercial auto.
Depending on what state you're in and your driving record, I'd look at 200-300 per month for a array of 100 miles from your garage address. A few years is business and cost could go down if you're a clean driver. Call the independent agent who handle your home & auto.
Good luck Source(s): http://ohio-insurance-forum.blogspot.com…
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