Arizona is a state primed for picking when it comes to opening up a small business. With a low tax rate and a median age of just over 35, the state is full of professionals going to work. The majority of businesses in Arizona are small businesses, which means that there are thousands of business owners doing business within the state each day.
With most of these businesses having at least one vehicle, that's thousands of commercial vehicles hitting the road each day. Arizona requires that businesses carry commercial vehicle insurance to cover any potential accidents that may occur.
Arizona business owners are required to carry liability insurance on their commercial vehicles. If the business owns more than 9 vehicles, they do have the option to express financial responsibility by self-insurance or a certificate of deposit. These options are generally more difficult, so purchasing commercial vehicle insurance is usually the more feasible option. The insurance required depends on vehicle weight, length, type, and intended use.
Commercial vehicle insurance is a set of policies to protect your business, assets, drivers, and vehicles in case of accidents. Even the safest drivers are involved in accidents. This is what a typical commercial vehicle policy may look like in AZ:
Every business is different in the risks it faces. The insurance coverage a manufacturing business needs will differ from those of a small downtown cafe. Here are just a few averages:
However, your rate will vary depending on the following factors:
You should familiarize yourself with these aspects of your business before getting commercial vehicle quotes in order to get the best quote for your business.
The insurance industry understands that businesses use all types of vehicles in order to conduct business. Below is a list of some of the most common types of vehicles covered by commercial vehicle insurance in AZ:
When searching for commercial vehicle insurance, be sure to be familiar with the types of vehicles you're looking to secure coverage for.
When it comes to keeping your insurance coverage effective, it's important that you keep your insurance company informed of any changes to your policy. If you have a current commercial vehicle insurance policy, or are beginning to search for one, it's important that you make your insurance company aware any time the following circumstances occur:
Each of these circumstances can affect your policy, so be sure to keep your agent aware of any changes.
Typically, there are discounts available on the majority of insurance policies. The discounts you may be eligible for can include the following:
Each insurance agency has different discounts available, so be sure to ask your agent about any discounts you may not be aware of.
When it comes to getting the best insurance for your investment, finding the right policy can be hard. A Trusted Choice® agent is always available to help you discuss coverages, suggest ways to lower prices, and even help you file a claim.
The agent has years of experience working with Arizona insurance providers and can find you a number of quotes from a variety of companies. Contact a Trusted Choice agent near you today to find the most comprehensive commercial vehicle insurance quotes at the best rates.