It is generally advisable to opt for a commercial auto insurance policy as an ice cream truck owner because these plans have better access to
higher auto liability limits.
PEL Primary only requires you to have minimum
auto liability limits of $ 100,000 / $ 300,000, so most people can meet the requirements without incurring the expense of increasing their auto coverage.
Maryland House Bill 526 would require twice convicted drunk drivers in the state to carry much
higher auto liability limits than the minimums mandated by state law.
For example, a $ 1 million umbrella policy essentially converts a $ 500,000
auto liability limit or a $ 300,000 homeowners liability limit to $ 1.5 million and $ 1.3 million respectively.
While the above situation may be the most common, there are several other situations where your home and
auto liability limits aren't enough:
Protect your financial stability and personal assets with Massachusetts umbrella insurance, which provides excess liability coverage, above and beyond your home and
auto liability limits.
For example, you may feel well protected with
an auto liability limit of $ 300,000 per accident.
Commercial auto insurers, on the other hand, readily provide a $ 1,000,000
auto liability limit.
You may have the option of increasing
your auto liability limits — and the III suggests that's a good idea.
In most states your UM / UIM limit can not exceed
your auto liability limit.
That's why it may be a good idea to increase
your auto liability limits above the state's minimum requirements by purchasing more coverage.
In these cases, it is often smarter to reinvest some of that money in increasing
your auto liability limits, giving you more protection against personal financial liability in the event of a serious accident for which you are found responsible.
For example, a $ 1 million umbrella policy essentially converts a $ 500,000
auto liability limit or a $ 300,000 homeowners liability limit to $ 1.5 million and $ 1.3 million respectively.