What kinds of vans can be insured with cargo van policies?
Cargo van policies are able to insure most non-passenger vans that businesses use. They can usually be used for cargo vans, delivery vans, courier vans, box fans, step vans, utility vans, refrigerated vans and others.
Some businesses that frequently purchase these policies include last-mile deliverers, couriers, tradespeople (e.g. painters, plumbers, exterminators, specialist contractors), and service-oriented businesses (e.g. bakeries, equipment rental businesses, florists).
If there’s any question about whether this type of policy is suitable for a particular vehicle, businesses should ask an insurance agent who specializes in commercial van insurance.
Do cargo van policies cover passenger vans?
Commercial van insurance may be used to insure cargo vans or passenger vans. Passenger vans usually call for higher bodily injury, PIP and medical payments limits, though. A policy that’s intended for cargo vans might not be suitable for passenger vans, which likely ought to be insured with a passenger van-specific policy.
What coverages are available through commercial van insurance policies?
Most commercial van policies offer at least the following coverages:
- Collision Coverage, which might insure vans against accident-caused damage
- Comprehensive Coverage, which might insure vans against non-accident damage
- Bodily Injury Liability Coverage, which might insure against accident-caused injuries
- Medical Payments Coverage, which might extend coverage to medical bills for injuries
- Property Damage Liability Coverage, which might insure against damage to others’ property
- Uninsured/Underinsured Motorist Coverage, which might insure against accidents with uninsured drivers
- Gap Coverage, which might insure the difference between a loan’s amount due and van’s value
A knowledgeable insurance agent can explain these coverages in detail, and give examples of when each would likely apply.