Troy Commercial Vehicle Insurance

Your Complete Guide to Troy, AL Commercial Vehicle Insurance

How to connect with a local adviser

Alabama Commercial Vehicle Insurance

The commercial auto insurance industry is a $46.6 billion market. An average of 10,486,622 commercial truck are sold per year. When you own a business in Troy, AL, your company's commercial vehicle policies are required to follow state and federal guidelines.

An independent insurance agent can help you find a commercial vehicle policy at a low cost. An independent agent can review your business policies for accuracy at zero cost. Connect with an expert to get tailored quotes. 

What Is Commercial Vehicle Insurance?

Commercial vehicle insurance will cover your business's liability and any physical damage resulting from a vehicle accident. If employees are allowed to drive company autos, you'll want to make sure coverage is sufficient. In Troy, AL, commercial auto insurance is necessary and required. 

If you're looking to avoid financial ruin when a loss occurs, commercial vehicle insurance can help. When you have adequate limits of protection, you are less liable. Insurance will pick up any expenses that may be involved in a commercial auto claim. 

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

In Troy, AL, heavy trucks and tractors have to follow the Department of Transportation (DOT) guidelines. In contrast, standard commercial vehicles fall under general liability requirements. Alabama mandates that every commercial vehicle policy needs to carry the minimum liability limits set by the state.

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

If your commercial autos leave the state, you may be required to meet both local and federal laws. Businesses that drive heavy load tractor-trailer trucks have to follow the DOT guidelines. When you haul materials, carriers will ask for an inventory to get an accurate rate.

What Else Does Troy, AL Commercial Vehicle Insurance Cover?

There are optional coverages to choose from in Troy, AL. If you want protection for your commercial assets and more, you'll have to add it. To better insure your vehicles and get coverage for repair or replacement, take a look below:

  • Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.
  • 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.
  • Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto. 

Why Do Troy, AL Businesses Need Commercial Vehicle Insurance?

In Troy, AL, commercial vehicle coverage is mandated by law. If you own a company auto, some regulations need to be met. The Alabama Highway Safety Office has a drive safe initiative to help shed some light on local accidents. 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 the most accidents occur in Alabama

If you're trying to avoid being another statistic, there are certain coverages your commercial auto policy should have. In each state, limits of liability are required. For anything more, you'll need to review your policy and assess the coverage needed.

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

Your Troy, AL, commercial vehicle insurance premiums will be rated based on numerous items. Carriers go off of business criteria as well as outside circumstances. Check out the risk factors that companies use to determine your pricing:

  • 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

Carriers will use insurance scores, loss history, and more to set costs. If your business wants the best rates, you'll need to improve the areas you can control. Employee driving records should remain clean for lower premiums.

Why Work with an Independent Agent in Troy, AL?

Business coverage is key to having a smooth-running operation. Commercial vehicle insurance is regulated by Alabama law. With any state-mandated policy, a trusted adviser can help.

When you work with an independent insurance agent in Troy, AL, they do the shopping for you. Since they have access to several markets, you'll have options on policy and price. Connect with a local expert to get customized quotes today.

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