Understanding Commercial Insurance for Your Business
As a business owner, you know that commercial insurance is vital for protecting your business assets. Several types of commercial insurance are available, and knowledgeable insurance agents can help you determine which types are best for your business. If you’re based in West Hartford, CT, and looking to ensure your business is adequately insured, our expert agents at ALLConnecticut Insurance Brokers are ready to help you. Since 1994, we’ve been advising clients on insurance solutions and are ready to assist you.
Reporting Requirements for Commercial Vehicle Insurance
Commercial vehicle insurance is a critical type of commercial insurance. It’s crucial for every motorized vehicle your company uses for business purposes. According to Connecticut state law, businesses are required to report the details of each insured vehicle to the DMV annually. If companies must insure vehicles, the DMV provides a guide outlining which vehicle classes require insurance. The coverage for qualifying vehicles ranges from $750,000 to $5,000,000.
Your business needs to be insured if it owns a vehicle that conducts interstate business operations and has a gross vehicle weight in excess of 10,001 pounds. Vehicles used to transport hazardous materials also need insurance. Other vehicles that require commercial vehicle insurance include those with the capacity to carry 15 passengers.
Discuss Your Insurance Needs with Us
Besides commercial vehicle insurance, a business also needs property, liability, and worker’s compensation insurance. Chat with one of our agents about your insurance needs, and let us offer you an array of options to meet these needs. If you’re a West Hartford, CT business, you’ll find your insurance answers at ALLConnecticut Insurance Brokers. Call us today for an appointment to ensure your business has complete coverage.