From pizza delivery cars to heavy construction trucks, it is easy to find commercial vehicles on Hialeah’s roadways. If you own a Hialeah business that uses vehicles as part of your company’s normal business operations, you will want to be sure that these vehicles are properly insured.
An independent agent can help you find a competitively priced commercial vehicle insurance policy that is compliant with state and federal laws. Find an insurance agent in or near Hialeah to learn more.
Commercial motor vehicles (CMVs) include any type of vehicle that is owned and used by a business. These vehicles can include cars, trucks, tractor-trailers, cargo vans, dump trucks, and more. Accidents involving CMVs are not uncommon. The state of Florida tracks these collisions by county.
Miami-Dade County, FL commercial vehicle crash statistics
These accidents can results in expensive liability lawsuits against your business, large financial losses due to property damage, and loss of income if you do not have access to a working vehicle that is necessary for your business operations. Commercial vehicle insurance covers you against these risks so that your business finances are protected.
The cost to cover commercial vehicles can vary significantly from one business to the next. This is because insurance companies calculate rates based on several different considerations, such as:
Often, commercial vehicle insurance companies will offer policy discounts to policyholders who provide routine safety training and materials to their drivers and manage a fleet of well-maintained vehicles.
Commercial vehicles that are only driven locally must comply with Florida’s state-mandated minimum coverage requirements. CMVs that are used for interstate commerce, however, must have policies that are also compliant with federal regulations. Most Hialeah small businesses operate their vehicles only within the state.
Because Florida is a no-fault state, all commercial auto insurance policies are required to include at least $10,000 of personal injury protection (“PIP”) coverage. It is designed to cover 80% of your drivers’ medical bills and 60% of their lost wages if they are injured in a collision. It can also provide a one-time $5,000 death benefit in the event of a fatal accident.
All commercial vehicle policies must also include a certain amount of liability coverage. This is designed to provide coverage for third-party injuries and property damage if your driver is responsible for a vehicle collision. In Florida, the minimum liability coverage requirements vary according to the commercial vehicle’s type, size, and purpose.
Florida liability coverage requirements for commercial trucks, by weight
Commercial vehicles that are used to transport people or hazardous materials will have higher liability coverage requirements. Your local independent insurance agent can review and explain the specific coverage needs of your company’s vehicles.
All commercial vehicle insurance policies in Hialeah will include personal injury protection and liability coverage, since it is required by law. Insurance companies also offer several other types of optional coverage. A few providers may even include some of these options as a standard part of their commercial vehicle policies.
Your local independent insurance agent is available to help you decide which of these optional coverage types will benefit your Hialeah business.
You will want a commercial vehicle insurance policy that is designed to meet the specific needs of your particular business. A local independent insurance agent can answer your insurance insurance-related questions and offer advice and guidance when you are building a suitable policy and shopping around for the best rates.
Contact an insurance agent in Hialeah to start comparing a selection of customized commercial vehicle insurance quotes.