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Old 05-20-2019, 08:45 PM   #1
f4phantomii
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Default Insurance policy for work vehicle

Small biz owner, and one of our employees drives a company van as a commercial vehicle.

A handful of our commercial customers require us to carry a minimum $1 million in liability coverage on the vehicle.

This year Geico stopped offering a policy in that amount for commercial vehicles and the highest limit they have is $500k.

Calling around to the major auto insurance places, we only found one with a limit that high, and the premium is more than 4x what we had been paying.

Is it possible to insure the same vehicle with 2 different carriers? Like get a $500k primary policy and another $500k supplemental policy? Is there an insurance industry term for that?
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Old 05-20-2019, 09:15 PM   #2
shiplemw
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It is called a $1 million dollar policy. Shop for a smaller insurance company.
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Old 05-20-2019, 09:41 PM   #3
n2oiroc
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wouldnt an umbrella policy carried by the business cover the company vehicles liability too? im 99% sure it does.
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Old 05-21-2019, 07:19 AM   #4
Jack
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Quote:
Originally Posted by n2oiroc View Post
wouldnt an umbrella policy carried by the business cover the company vehicles liability too? im 99% sure it does.
This. Not commercial, but I've got $2M umbrella which requires 100/300 on every car.
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