There are business use applications to some vehicles on a commercial auto insurance policy that for which the vehicle is used only a few months out of the year. As an example, if you are a farmer in Oregon this might apply to a flat-bed truck used for delivering hay if the vehicle was strictly for hay delivery use. You would not want to pay for liability use on the vehicle year round while it sat collecting dust. With a lay-up credit, you are charged premium for the specific time frame you are using the truck, and a lower premium for the months it is not in use.

The following lay-up credits are applicable to seasonal use farm trucks, tractors, and semi-trailers, and the specific months must be declared on the application. These credits are not applicable to pickups, vans, step/delivery vans, or dump trucks:

Lay - Up Period Less than 2 months 2 months but less than 3 months 3 months but less than 4 months 4 months but less than 5 months 5 months but less than 6 months 6 months or more

Lay-up Credit 0% 10% 20% 30% 40% 50%

 

Call us on the westside at InsureSource Agencies, LLC (503-693-2852) or on the eastside at Pulse Insurance, LLC (503-489-3143. We serve the entire state of Oregon.