Alabama is the third-largest contributor to commercial vehicle road fatalities in the country, with the majority of accidents involving heavy and tractor-trailer truck drivers. If you own a business in Daphne, AL, your company's commercial vehicle policies need to follow local requirements.
An independent insurance agent can help with commercial vehicle coverage at a fair price. Since they know the state and federal laws around commercial vehicle insurance, your policy will comply with local guidelines. Connect with an expert to get customized quotes.
What Is Commercial Vehicle Insurance?
Commercial vehicle insurance is a policy that will cover your liability and physical damage as the business owner. When you allow employees to drive company vehicles, you have a high risk. If an accident occurs while operating a commercial auto in Daphne, coverage is not only necessary but required.
Alabama commercial vehicle insurance can protect your bottom line from a huge loss. Financial ruin could occur if you're found without adequate coverage. When a commercial auto accident happens, and your driver is at fault, you could face hundreds of thousands of dollars in legal fees.
Why Do Daphne, AL, Businesses Need Commercial Vehicle Insurance
In Daphne, AL, commercial vehicle insurance is not only mandatory, but necessary for proper protection. The Alabama Highway Safety Office has a drive safe initiative to help shed some light on local accidents. According to their reports, these are some statistics for Alabama.
- In Alabama, almost 56% of road fatalities did not wear seat belts.
- 49% of all Alabama road fatalities occurred at night, including dusk and dawn.
- In Alabama, most fatal crashes occur on a Saturday.
- Friday is when most accidents occur in Alabama.
Each state will have its own set of guidelines on how much coverage is needed. If you're looking for a policy that insures both your liability and assets, an adviser can help. When you're shopping for the perfect commercial vehicle policy, you'll need to know what limits are required in Alabama.
What Are the Commercial Vehicle Coverage Requirements in Daphne, AL?
In Daphne, AL, you are required to carry the minimum limits of liability insurance for commercial vehicles. Coverage amounts vary depending on the type of vehicle you are driving. Most fall under the standard commercial auto regulations. Heavy trucks and tractors will have to follow the Department of Transportation (DOT) guidelines.
Alabama's minimum liability requirements for commercial vehicles
- $25,000 property damage liability per accident
- $50,000 bodily injury liability per accident
- $25,000 bodily injury liability per person
Alabama's DOT minimum liability requirements for oversized vehicles / loads
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $300.000 property damage liability per accident
- $1,000,000 if a combined single limit policy
Commercial vehicle insurance may need to meet not only state guidelines but federal as well. If your commercial autos drive outside of Alabama, you could be responsible for other insurance coverages. Get with a licensed professional to go over.
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How Much Does Commercial Vehicle Insurance Cost in Daphne, AL?
Your Daphne, AL, commercial vehicle insurance costs will vary. Coverage and premiums depend on what exactly you're insuring. The type of operation you are running will also play a part in your rates. Check out the risk factors that carriers use to determine your pricing.
- Year, make, and model of all vehicles
- The radius in which you travel
- The number of drivers and their motor vehicle records
- What the vehicles are used for
- The coverage you choose
- Where you store the vehicles
- What safety measures you have in place
- The time of day or night these vehicles are driven
Insurers will take the above information and rate your policy accordingly. Couple this with your loss history, insurance score, and experience, and you've got a policy. The best way to find commercial vehicle insurance for a low price is by shopping with multiple carriers.
What Else Does Daphne, AL, Commercial Vehicle Insurance Cover?
While commercial vehicle liability insurance is required in Daphne, AL, other coverages are optional. If you want protection for the commercial autos themselves, you'll need to add it. To better insure your assets and get replacement or repair, take a look below.
Non-owned or hired auto liability insurance: If an employee or contractor uses a non-company-owned vehicle while doing business on your behalf, this will cover your exposure.
Comprehensive insurance: This covers the cost to repair or replace your commercial vehicle if it is lost or damaged due to a non-collision accident.
Collision insurance: This will replace or repair your commercial auto that is damaged due to an accident.
Uninsured motorist insurance: If your commercial auto is involved in an accident with an uninsured driver, this provides coverage for property damage and medical costs.
Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.
Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto.
Why Work with an Independent Agent in Daphne, AL?
Your company's commercial vehicle insurance needs to meet specific state requirements. When you try to DIY coverage, you could be missing key items. Instead, consider using a knowledgeable professional who has access to options.
When you work with an independent insurance agent in Daphne, AL, you'll get the best of both worlds. An independent agent does the policy comparing for you at no cost. They will use multiple carriers so that you can get coverage at an affordable price. Connect with a local expert on TrustedChoice.com to get started.