In the list of the best places to live in the U.S., Pennsylvania ranked 10th, with a combined score of 59.21/100. Further, the state ranked second based on its quality of life, seventh for its safety, 30th for its affordability, and 42nd for its economy.
Many of Pennsylvania's 1.1 million small businesses require commercial auto insurance to protect themselves from accidents and mishaps caused by the use of their company vehicles. Commercial vehicles require higher limits and specialized coverages not included in a personal auto policy, unlike other insurance policies.
Over 750,000 small business owners in the United States rely on good insurance providers to protect their work vehicles and livelihoods. Whether they own a consulting firm in Philadelphia or a manufacturing facility in Pittsburgh, each receives coverage tailored to their specific needs.
All commercial auto policies in Pennsylvania must have a minimum liability limit of $15,000 per person, $30,000 per accident for bodily injury, and $5,000 for property damage (i.e., 15/30/5). Some policies must carry higher limits due to the vehicles they insure.
Medical benefits coverage is legally required to help pay for the medical expenses of those covered by your policy as a result of an accident involving your commercial vehicle.
All vehicles in Pennsylvania, whether for personal or commercial use, must have a minimum amount of auto liability insurance coverage. Pennsylvania's insurance requirements are as follows:
Depending on the type of vehicle and how it's used, semi-trucks, tractor-trailers, and other vehicles with a Pennsylvania Department of Transportation serial number will have additional liability coverage requirements.
Knowing the different types of insurance and their coverages is important in getting the right policy for you if you want to cover your bases and get your commercial vehicles insured. Here are some of the most common types of car insurance, how they work, and what they cover:
Reliable commercial auto insurance for business vehicles remains competitive in small and large enterprises. However, finding the right commercial auto policy with the right insurance company can make a big difference in your business' future.
To learn more about commercial auto insurance policies for your business in Pennsylvania, read through our blogs at Assured Standard and grasp what smart long-term business solutions could look like.