Selma Commercial Vehicle Insurance

Your Complete Guide to Selma, AL Commercial Vehicle Insurance

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Alabama Commercial Vehicle Insurance

Selma, AL, has 18,370 residents, and many of them are on the roads. Since Alabama has the third-highest number of commercial truck fatalities in the nation, coverage is necessary. When you're a business owner in Selma, you may be required to carry commercial vehicle insurance.

Fortunately, an independent insurance agent has policy options that won't significantly impact your bottom line. When you need to comply with local and federal guidelines, use a professional. Connect with a local expert to get tailored commercial auto quotes. 

Why Do Selma, AL Businesses Need Commercial Vehicle Insurance?

In Selma, commercial vehicle insurance is mandatory and regulated by the state and the Department of Transportation (DOT). The Alabama Highway Safety Office has a drive safe initiative to help keep the roadways safe. According to their reports:

  • In Alabama, almost 57% of road fatalities did not wear seat belts.
  • 51% 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 business drives across state lines to haul heavy loads, there are two responsibilities you'll have:

  • Your commercial vehicle policy will need to comply with state and federal requirements.
  • The type of materials you're hauling need to be monitored by the DOT and insurance carrier.

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

Your company's commercial auto insurance accounts for about 5% of your business expenses. The net commercial vehicle premiums for last year came in at $12,764,999. Many items can impact your insurance costs. 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 driving 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

Your commercial auto rates have many factors, from loss histories to local crime, when calculating the final figure. Things like weather and how likely you are to report a claim are worked into the rate. To have the lowest pricing, get multiple quotes. 

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

In Selma, AL, it is mandatory to have the minimum limits of liability if you operate autos for your business. When you use heavy trucks and tractor-trailer trucks, you'll need to abide by the DOT guidelines. Check out the state's requirements below:

Alabama 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 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

With 2,955,000 commercial truck registries per year in AL, coverage is necessary. If you're hauling hazardous materials, they will need to be accounted for on policies and with the DOT. If an accident occurs and there is a spill, your business will be responsible for any loss.  

What Else Does Selma, AL Commercial Vehicle Insurance Cover?

Selma, AL, commercial auto insurance comes automatically with liability coverage. If you need insurance for physical damage to your vehicles, it will have to be added manually. Take a look at the additional coverage choices below:

  • 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. 
  • 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.
  • 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.
  • 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.

Why Work with an Independent Agent in Selma, AL?

Your commercial vehicle insurance policies are essential to running a safe and smooth operation. When you're shopping for the best coverage and rate in town, consider using a professional. An independent insurance agent can help with policy and price. 

Since they work on your behalf at zero cost, you'll save money and time. You can connect with a local independent agent on TrustedChoice. They have a network of experts to run commercial auto insurance quotes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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