COMMERCIAL AUTO INSURANCE
You know when you get behind the wheel that you need to have the right auto insurance in place, but did you know that commercial auto insurance is entirely different? Your personal auto insurance doesn’t cover you when you get in a commercial vehicle, and general liability business insurance doesn’t cover commercial vehicles either, unless it is a very specific add-on with it. Even then, the coverage may not be enough to totally cover your commercial needs in a vehicle.
What does commercial auto insurance cover?
We all know that commercial insurance covers commercial vehicles and the employees that drive them. However, there is more detail to look at when it comes down to the itemized insurance that you can get for your commercial vehicle. For example, you can get commercial insurance that will cover you in the following sections (just like personal car insurance would).
Commercial Auto liability Insurance coverage
Liability coverage is going to cover both medical and image-related fees for the other driver in the event of a collision. The maximum will differ depending on the particular policy that you choose. Call us for the best commercial auto insurance coverage.
Medical; Commercial Auto Insurance
This kind of coverage refers to your employee’s medical bills as well as clients or others are that are in the commercial car on commercial-related business. This is often why commercial vehicles are so strict with who is allowed to ride in them. This will be valid even if you are considered at-fault for the accident.
Collision coverage
In the event of a collision, you can get coverage for any injuries and damages to your commercial car. The deductible will depend on the policy, of course. The collision coverage also applies to storm-related accidents or even theft of vandalism to the car itself. The actual details on something like vandalism or weather events will differ from policy to policy, however, so it’s important to check in detail.
Uninsured driver insurance
The other focal point of commercial auto insurance is that you are going to have coverage for damages and injuries for those in the commercial vehicle (who are allowed to be there) in the event that the other driver in a collision or accident does not have insurance. This will still be applied even if your employee is the one who is responsible for the collision.
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Commercial Auto Insurance
The average cost of commercial auto insurance will differ depending on what kind of commercial vehicle is being insured. For example, something like food delivery services often have to pay higher because there are constantly drivers on the road and this puts them at more risk of having to file a claim. When it comes to something a little more new age such as Uber, it tends to be a bit lower. There is also a lay-up option that you can consider when you are looking at only doing Uber for a certain amount of time, Though, this often does often lead people to be unsure of protection since it is in a personal vehicle under a company policy. More clarification is available on that below and, as well, with the chosen provider that you go to in order to get a specific commercial auto insurance quote.
Commercial auto insurance quote
While all too people tend to think otherwise, commercial insurance on a personal vehicle (such as an employee driving their own personal vehicle for business purposes) isn’t covered under a traditional commercial insurance for vehicles. Some providers allow it to be added in as a bonus to a commercial auto insurance, but it’s always important to take a look at the expulsions and inclusions on the policy that you end up getting, to make sure that you are covered where you think you are.
When you are looking to make sure that you offer the right kind of protection to employees, tools, and commercial vehicles, the details are going to have to all come together with the insurance that you choose. As with personal car insurance, there are often some add-ons and different kinds of insurance focuses that you can consider for your commercial vehicle. These will differ from broker to broker, however, and you will need to keep in mind that you have to insure all commercial vehicles with the right protection, so you’ll have to pick a policy that is going to work for all of your different commercial vehicles.
Commercial Auto Insurance
Whether you have a fleet of cars or trucks, Eugene C Yates Insurance Agency can provide you with the commercial auto insurance you need for your business. At Eugene C Yates we have been insuring commercial auto fleets since 1946. We offer competitive rates and service with a smile.
When you are looking for a commercial vehicle insurance policy you want to know you’re dealing with a company that will be there for you when you need them most. We have been around for over 70+ years and we aren’t going anywhere. You can count on us for all of your commercial vehicle insurance needs.
Determining what coverage is needed for your commercial auto fleet can be challenging for the majority of business owners. That’s why we make getting insured easy. All you have to do is call one of wonderful agents and they will walk you through all of your options and find the policy that’s right for your business.
Commercial Auto Insurance Quote
Getting commercial auto insurance can provide protection from liability and physical damage to your company vehicles. Your commercial fleet requires a separate auto insurance policy due to the amount of risk involved and how they are used.
Commercial auto insurance is useful for a lot of different vehicles. Most may think it’s only helpful to insure your semis and dump trucks, but any vehicle used to run business errands should be insured with a good commercial auto insurance policy.
When it comes to getting a great quote on commercial auto insurance, we make it easy for you. Call us and we will do all the heavy lifting for you. We have access to the best insurance companies in the commercial auto insurance industry. This allows us to shop the top companies and find you the best rates for your situation.
Commercial Auto Insurance Cost
The cost of commercial auto insurance is going to be dependent of the amount of insurance you need and the risk involved. A policy limit of $1,000,000 the median cost of commercial vehicle insurance is around $142 per month which comes out to annual premium of $1,704. With the median cost we are able to see a figure that may be closer to the actual amount you will end up paying on your commercial auto insurance versus an average estimate. The reason for this is it excludes outlier high & low insurance premiums.
Most small business owners will pay less than $1,500 annually for their commercial vehicle insurance.
Best Commercial Vehicle Insurance
When you’re looking into commercial vehicle insurance companies, you want to know you got the best policy for your company. Cheap commercial vehicle insurance isn’t always the best option when looking at protecting your business.
Finding the best commercial auto insurance for your situation is easy for us at Eugene C Yates Insurance Agency. With access to the biggest and best companies in the commercial auto insurance industry, all we have to do is reach out to our network of commercial auto insurance carriers and explain your situation.
So if you’re looking for the cheapest commercial vehicle insurance, or at least cheaper commercial vehicle insurance, then you’ve come to the right place. We can help you secure coverage that will give your company the protection it needs for your commercial vehicle fleet.
Commercial Auto Insurance Requirements
The amount of commercial auto insurance you carry is determined by state and federal laws and regulations. Said laws determine commercial auto insurance requirements based on vehicle weight, or the number of passengers riding in the vehicle. Another determining factor on the amount you’ll be required to carry will vary if your fleet carries hazardous waste or flammable cargo.
There are not any real clear rules revolving around the amount of commercial auto insurance coverage you carry. Some companies like Nationwide will require a minimum amount of $100,000 in commercial auto liability coverage for each vehicle you want insured. In addition to the recommend minimum amount of $500,000 up to the max of $1,000,000.
California requirements for commercial auto insurance;
Passenger carriers / vehicles:
Seating:
- 1-7: $750,000
- 8-15: $1,500,000
- 16+: $5 million
Property carriers:
- Automobiles less than 10,000 lbs.: $300,000 liability
- Automobiles 10,000 lbs. or more: $750,000 single limit
Household goods carriers:
250/500/100 or $600,000 CSL
Intrastate motor carriers petroleum/waste petroleum products:
$500/1,000/200 (other than property being transported) or $1.2 million CSL
Hazardous substance carriers:
Federal regulations apply: $5 million or $1 million CSL depending on substance