What You Need to Know About Commercial Vehicle Insurance


Commercial vehicle insurance covers the drivers who are on the job while they are driving for the business. It also covers the driver’s liability in an accident caused by a negligent or uninsured driver. It also covers liability for any vehicles not owned by the business. Some policies include comprehensive coverage, which covers situations other than collisions.

Coverage options

When it comes to obtaining commercial vehicle insurance, there are several options to choose from. These policies offer a wide range of coverage options and include a variety of optional features. Many companies offer additional coverage for specialized vehicles or specific business use. For instance, Farmers insurance offers specialized coverage for contractor vehicles and expensive tools. It also offers coverage for subcontractors when their indemnity agreement includes primary coverage requirements. The company also offers noncontributory coverage and custom policy options. Farmers is a large and established company with a good to excellent financial strength rating.

Another option for business owners is to purchase commercial auto insurance policies from Progressive. They offer comprehensive policies that include liability, physical vehicle damage, medical payments, and uninsured motorists. Their policies cover both private and business-owned vehicles and can provide coverage for up to 15 drivers. However, their policies do not provide full coverage for larger vehicles. Therefore, this type of policy may not be appropriate for larger companies.



The cost of commercial vehicle insurance depends on a number of factors, including the number of vehicles in a fleet, the number of drivers, and the type of cargo. Larger vehicles like semi-trucks, for example, will have a higher premium than smaller ones. The cost of insurance also depends on the driver’s driving history, and a clean driving record will translate to a lower premium. In addition, a small business will pay less for coverage if there are fewer claims.

The cost of commercial vehicle insurance varies widely, depending on the type of business and the number of vehicles. For example, an owner-operator policy may cost between $500 and $1,700 per year, while a semi-truck insurance policy could cost anywhere from $18,000 to $28,000. The amount of coverage will also depend on the size of your fleet, how many vehicles you have, and the location of your business.

Commercial vehicle insurance is necessary for businesses, and it is crucial that you choose the right coverage level for your business. You should make sure you have adequate liability coverage, which covers a wide range of accidents and damages. You should also consider adding uninsured motorist insurance, which protects you from uninsured drivers. It will help you save money on commercial vehicle insurance. In addition, a commercial fleet insurance policy will make it easier for you to track and manage the policy’s costs.


If your business owns a fleet of commercial vehicles, you may need to get the right kind of insurance coverage. Different types of coverage are required in different states. In Alaska, for example, you may need to have a higher combined single limit, which can be up to $500,000, and you may need to have a defined minimum liability coverage. Other states require you to have a certain amount of coverage for bodily injury per person, bodily injury per accident, and property damage. Generally, the cost of commercial vehicle insurance will vary depending on your business type and the value of the vehicle. However, you should expect to pay anywhere from $1800 to $2200 per year for a basic policy.

In New York, every vehicle used for business purposes must be insured. This insurance covers the vehicle’s property damage and bodily injury.


Almost all businesses need to insure their fleet of vehicles, but some types of policies qualify for discounts. For instance, a CDL discount may be available to business owners with a commercial driver’s license (CDL). The discount requires that the business have at least three years of business operations and consistent transactions with the auto insurance carrier. Other discounts include the business experience discount and the paid-in-full discount.

You can also get discounts for having several policies with the same provider, such as an auto and home policy. Depending on the insurance provider, the discounts can range anywhere from 2% to 9%. Some insurance providers also offer discounts based on affiliation, such as military service, good student, senior citizen, or distant student. If you have multiple policies with the same company, you might be able to combine them for even greater savings. Discounts may also be available for safety features on your vehicle, such as alarms.

Commercial vehicle insurance policies may also contain discounts for certain equipment, such as anti-lock brakes and security systems. Many insurance carriers offer discounts to members of professional associations, including the Restoration Industry Association, the Building Trades Association, and the Painting and Decorating Contractors of America. For more information, contact an agent with expertise in this area.