What Businesses in Vermont Need a Business Auto Insurance Policy?

Most businesses in Vermont that own vehicles which are driven on public roads are required to carry a business auto insurance policy. The policy must at least meet the state’s minimum liability coverages. Businesses that fail to do this may face serious legal and/or financial consequences.

In some cases, businesses that don’t own vehicles but have employees driver vehicles for work-related purposes may want a business auto policy. Specifically, they may need hired and non-owned auto liability protection. This coverage may provide protection for non-company vehicles while they’re driven for work.

Is Business Auto Insurance Expensive?

As is the case with personal auto insurance, business auto policies’ premiums can vary dramatically. Some of the factors that insurers consider when setting premiums include the:

• Number and type of vehicles being insured
• Location where vehicles are parked when not being used
• Ways vehicles are used for work
• Distance vehicles driven within a year
• Coverages and limits a business selects
• Business’ recent auto insurance claims history

The best way to find out how much a business auto policy will cost a particular business is by requesting a quote, and the best way to find the lowest quote is by comparing multiple policies with an experienced independent insurance agent. When shopping for coverage with an agent, businesses can be confident that they get the most affordable policy that provides the coverages they need.