Florence Commercial Vehicle Insurance

How to connect with a local adviser

Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Alabama Commercial Vehicle Insurance

Florence, AL, has over 39,852 residents, making this a mid-sized place to own a business. With over 111 fatal accidents caused by commercial truck drivers, coverage is necessary. When you operate a Florence, AL, company, commercial vehicle insurance may be required.

An independent insurance agent can help find a commercial auto policy that won't break the bank. Since insurance is mandatory, you'll need coverage that complies with state and federal laws. Connect with a local expert to get tailored quotes. 

Why Do Florence, AL, Businesses Need Commercial Vehicle Insurance?

Both the state and federal governments regulate commercial auto insurance. To better protect the people of the state, the Alabama Highway Safety Office sets safe driving initiatives. According to their reports, here 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.
  • A road accident in Alabama occurs every 197 seconds.

If your operation causes your drivers to leave state lines with loads, you'll have the below responsibilities:

  • Your commercial vehicle policy will need to meet Alabama and federal laws.
  • Materials hauled will need to be accounted for by the Department of Transportation (DOT) and your insurance carrier.

What Are the Commercial Vehicle Coverage Requirements in Florence, AL?

In Florence, AL, you are mandated by law to carry the minimum liability limits required. If you're found without coverage, you could face serious penalties or worse. Check out the state's requirements below.

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

When you haul materials with company autos, you'll need cargo coverage to have adequate insurance. These loads will be categorized by both the Department of Transportation (DOT) and the insurance carrier. Some hazardous materials will have to follow specific guidelines to be properly insured. 

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How Much Does Commercial Vehicle Insurance Cost in Florence, AL?

The commercial auto insurance industry is a 46.6 billion dollar market. Your commercial vehicle policy will be a small piece of that number. Check out the risk factors that companies use to determine your pricing below.

  • 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

Carriers look at a variety of factors when figuring your costs. In addition to the items listed above, companies look at insurance scores, loss history, and more. Local weather and crime rates are even taken into account.

What Else Does Florence, AL, Commercial Vehicle Insurance Cover?

Along with liability coverage, you may want to add insurance for your vehicles and other items. A standard commercial auto policy in Florence, AL, will not automatically include these other coverages. Take a look at the optional coverage choices below:

Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto. 

Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.

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.

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.

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.

Why Work with an Independent Agent in Florence, AL?

Commercial vehicle insurance is a mandatory and necessary policy for any business that uses company autos. If you have employee drivers, you'll need protection for them as well. To avoid fines and financial ruin, consult with a professional.

An independent insurance agent works on your behalf at zero cost to your business. They have multiple carriers to quote your coverage with, so you have options. Connect with a local adviser on TrustedChoice.com in minutes. 

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