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New York Dump Truck InsuranceBODILY INJURY/PROPERTY DAMAGE COVERAGE (BI/PD) Bodily Injury Liability provides coverage in the event a covered Dump Truck causes injury or death to another person and the insured is considered at-fault for the accident. It covers expenses related to medical costs, lost wages, sickness, death and pain and suffering for an injured third party. It also covers legal defense costs related to claims against covered damages. Property Damage Liability provides coverage in the event a covered Dump Truck causes damage to any property and the insured is considered atfault for the accident. It also covers legal defense costs related to claims against covered damages. Available Limits: 25/50/10 100 CSL 500 CSL 50/100/25 300 CSL 750 CSL 100/300/50 350 CSL 1,000 CSL 250/500/100 Rules: The BI/PD limits must be the same for all vehicles on the policy. Dump Trucks Insurance.com will not write multiple policies for the same named insured. UNINSURED/UNDERINSURED MOTORISTS COVERAGE (UM/UIM) UM/UIM provides coverage for damages which an insured is legally entitled to recover from another party who is considered at-fault for an accident, but is uninsured or underinsured for the level of damages. This coverage is available on power-driven vehicles only. Limits must be the same on each Dump Truck of a multi-Dump Truck risk. Mandatory Uninsured Motorist (Applies only to accidents in New York State whenever Supplemental Uninsured/Underinsured Motorist Coverage is not purchased) Available Limit: 25/50 Supplemental Uninsured/Underinsured Motorist (provides coverage for accidents in and out of New York State) Available Limits: 25/50 100 CSL 50/100 300 CSL 100/300 350 CSL 250/500 500 CSL 750 CSL 1,000 CSL Rules: Mandatory Uninsured Motorist Coverage must be written on all policies having Liability Coverage. Increased limits of Supplemental Uninsured/Underinsured Motorist Coverage shall be provided at the option of the insured. Supplemental Uninsured/Underinsured Motorist Coverage limits selected may not be higher than Bodily Injury limits. PHYSICAL DAMAGE COVERAGE Collision provides coverage in the event of a loss or damage to an insured Dump Truck caused by a collision or overturn. Collision must be written with Comprehensive or Fire & Theft with CAC. Comprehensive provides coverage in the event of a loss or damage to an insured Dump Truck caused by incidents other than a collision. This includes damages due to fire, theft, vandalism, windstorm or contact with an animal. Fire and Theft with Combined Additional Coverages provides coverage in the event of a loss or damage to an insured Dump Truck caused by a specific occurrence. The damage or loss must be caused by: fire, lightning or explosion; theft; windstorms or hail; earthquakes; flood or rising waters; vandalism; while being transported by a third party; or by a collision with an animal. Available Deductibles: 100 250 500 1,000 2,500 5,000 Rules: Eligibility for Comprehensive coverage is determined by Dump Truck type. Comprehensive or Fire and Theft with CAC can be purchased without Collision coverage, as long as BI/PD is also purchased. Physical Damage Only policies can be written. Dump Trucks Insurance.com allow an Unlimited Radius on Physical Damage Only policies. The limit of liability and rate are based upon a Dump Trucks Stated Amount (not cost new). The Stated Amount on a Dump Trucks Insurance.com policy should reflect a Dump Trucks current retail value including any special or permanently attached equipment. Using Stated Amount provides a superior value by allowing our insureds to customize their policy to accurately capture a Dump Trucks true value. The easiest way to establish a Stated Amount is to consult a book or other publication. Other possibilities include consulting with a dealer/manufacturer or checking Internet sites. When determining Stated Amount, remember to take condition, mileage and location into consideration. Also consider any Dump Truck upgrades, engine or major component rebuilds that could further increase a Dump Trucks value. Possible resources include: Valuation Publications & Internet Sites - Truck Blue Book, truckpaper.com, tradeonline.com Dealerships - What is the current retail value of the Dump Truck? Manufacturers - What is the special or permanently attached equipment worth? Lending/Financial Institutions - What is the current Blue Book value of the Dump Truck? Market-Value Software - N.A.D.A. (possible fee involved for the software) A Stated Amount must be maintained to remain accurate. Each time a policy term renews, you should review the values of all insured vehicles and modify stated amounts as needed to ensure they remain accurate. Dump Trucks Insurance.com does not automatically depreciate Stated Amount. Rules for Stated Amount: A minimum value of $5,000 will apply for rating purposes. (This minimum does not apply to trailers.) Passenger autos, pickups, vans, utility vehicles or trailers valued over $125,000 must be submitted for approval. Trucks, buses or motor homes valued over $200,000 must be submitted for approval. The customer is responsible for determining the appropriate amount of coverage. In the event of a loss, our policy pays the least of the stated amount, actual cash value, or cost to repair or replace. Dump Trucks Insurance.com does not have any affiliation with the above Stated Amount resources. The Stated Amount listed on a policy is NOT an agreed value and is subject to review upon servicing a claim. Physical Damage Inspections Physical damage inspections are required for the following body types: pickups, vans, SUVs and private passenger autos if requesting Physical Damage coverage (including Comprehensive Only coverage), with these exceptions: Leased Dump Truck under a 6-month lease or less. Temporary substitute Dump Truck. A new, unused Dump Truck (less than 45 days old). However, a copy of the bill of sale containing a full description of such Dump Truck, including all options and accessories, or a copy of the MV-50 form and a copy of the window sticker or invoice showing the itemized options and dealeradded options, must be attached to the application. FAILURE TO SUBMIT THIS INFORMATION COULD RESULT IN CLAIM PAYMENT HANDLING DELAYS. Vehicles 7 years or older. In 2006, for example, vehicles with model years 2000 or older do not require inspections. PERSONAL INJURY PROTECTION (PIP) COVERAGE Mandatory Personal Injury Protection: PIP must be written on all policies having Liability Coverage. PIP rates apply to all commercial vehicles, including trailers. PIP selections must be the same for all vehicles of a multi-Dump Truck risk. Driver surcharges are applied to Mandatory PIP. Optional Deductible: Available Deductible: $200 Not available to partnerships or corporations. Benefit Reductions: Available when one or more drivers are not covered by Workers Compensation or when vehicles are owned by an individual. Benefits may be reduced if Work Loss is coordinated. PIP coverage will be discounted if collateral Workers Compensation is in force and ALL drivers are covered under the Workers Compensation policy. Include the policy number and carrier on the application. ADDITIONAL PERSONAL INJURY PROTECTION COVERAGE Out-of-State (Guest) PIP: Out-of-State Guest PIP is only available in conjunction with Mandatory PIP. Extends the Mandatory PIP to losses out of the state of New York. Full Additional PIP: Provides higher limit coverage to Mandatory PIP. Optional Increased Limits must be the same on all vehicles of a multi-Dump Truck risk. Full Additional PIP rates apply to all commercial vehicles, including trailers. Out-of-State Guest PIP is automatically included in Full Additional PIP. Available Limits: 50,000 75,000 100,000 OPTIONAL BASIC ECONOMIC LOSS (OBEL) Available Limit: 25,000 Rules: OBEL is an optional coverage. Applies to all commercial vehicles, including trailers. MEDICAL PAYMENTS COVERAGE Medical Payments provides coverage for certain medical and funeral expenses for all those occupying a covered Dump Truck involved in an accident regardless of who is at-fault. Available Limits: 500 1,000 2,000 5,000 10,000 Rules: Available on power driven vehicles only. Can only be written in conjunction with BI/PD. Limits must be the same on all covered vehicles of a multi-Dump Truck risk. Coverage limits are per person and not per accident. Coverage is optional. |