Florida’s I-95 is ranked as one of America’s most deadly roads due to the high number of commercial truck accidents. From fender benders to major collisions, commercial vehicle accidents can be particularly expensive. Florida business owners who have company-owned vehicles can protect their business finances with a commercial vehicle policy.
An independent agent in Florida can help you find competitively priced commercial vehicle insurance that is compliant with state and federal laws. Find an insurance agent near you to start comparing customized quotes.
The Florida Department of Highway Safety and Motor Vehicles tracks vehicle accidents in the state. According to their reports:
If your business owns a vehicle or vehicles, Florida law requires that these cars, trucks, vans, or buses be covered by commercial vehicle insurance. When a commercial motor vehicle is involved in an accident, the company that owns it has a high chance of being named in an expensive liability lawsuit.
Commercial vehicle insurance is designed to protect your business from the large financial losses that may arise due to liability lawsuits, property damage, and the potential loss of income that may occur if your business is left without its necessary mode of transportation.
There is a wide range of commercial vehicle types, from pick-up trucks to excavators. Therefore, the cost to cover these business-owned vehicles can vary significantly from one company to the next. Rates are calculated according to a number of factors, including:
Every business is different, so the only way to get a good idea of what a policy will cost you is to request prices from a variety of commercial vehicle insurance providers. A local independent insurance agent can obtain these customized quotes on your behalf.
All commercial vehicle insurance policies in Florida must include the following:
Additionally, vehicles that weigh in excess of 26,000 pounds must carry additional liability insurance to cover both bodily injury and property damage. The minimum amount of liability insurance required is dependent on the vehicle's weight:
Additionally, commercial vehicles that engage in interstate commerce are subject to US Department of Transportation regulations, which require them to be covered by a minimum of $750,000 in liability insurance per occurrence. If your commercial trucks will be driven out-of-state, be certain that you meet all federal guidelines as well as the Florida state requirements.
Your local independent insurance agent can be very helpful when you are searching for a policy that is in full compliance with the law.
While personal injury protection and liability coverage is a required part of your commercial vehicle policy, there are a number of other coverage options that can protect your business finances if one of your drivers is involved in a collision. You can expect your commercial auto insurer to offer the following coverage options:
A local independent insurance agent can help you determine which coverage types are right for your Florida business. Your agent can also help you secure an affordable umbrella insurance policy if you wish to have more liability coverage than your commercial vehicle policy will offer.
Because businesses can own anything from economy-sized cars to 18-wheeler trucks, commercial vehicle insurance needs can vary. Obviously, a business that relies on one or two cars for making local deliveries will have vastly different coverage needs than one that uses large trucks for interstate commerce.
A local independent agent can help you find a competitively priced policy that meets all of your coverage requirements. Contact an insurance agent in Florida to learn more and to start comparing commercial vehicle insurance quotes.