Many businesses in Orlando use vehicles, from businesses that transport tourists to and from the Orlando airport to companies that own a fleet of construction vehicles. The state of Florida requires that all business-owned vehicles be covered by suitable commercial vehicle insurance policies.
An independent agent in Orlando can help you find an affordable policy that meets your business’s coverage needs and is also compliant with state and federal laws. Find an insurance agent near you to learn more.
If your business owns vehicles, these cars, trucks, vans, or buses must be covered by commercial vehicle insurance. When a commercial motor vehicle (CMV) is involved in an accident, the company that owns it has a high risk of facing a liability lawsuit. Accidents involving CMVs are not uncommon. The state of Florida tracks these collisions by county.
Orange County, FL commercial vehicle crash statistics
Commercial vehicle insurance is designed to protect your business from large financial losses 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.
Because of the wide range of commercial vehicle types and purposes, the cost to cover business-owned vehicles can vary significantly from one company to the next. Rates are calculated according to a number of factors, including:
It is a good idea to hire experienced drivers with good driving records and to ensure that your company’s vehicles are consistently well-maintained. Also, limiting the number of hours your employees spend on the road each day can reduce problems with driver fatigue. Preventive steps like these not only lower the risk of a collision, they can also lead to lower insurance rates.
Many commercial vehicle insurance providers offer discounts to policyholders who provide their drivers with routine safety training and educational materials.
Florida is a no-fault state, so all vehicle insurance policies must therefore include personal injury protection (PIP) insurance with a minimum of $10,000 in coverage. Your PIP coverage is designed to cover 80% of your drivers’ medical bills, 60% of their lost wages if they are injured in a collision.
There are a number of different types of vehicles that can be covered under a commercial vehicle insurance policy; and in this state, different weights of vehicles have different minimum liability coverage requirements.
These minimum requirements are for vehicles that are used in-state only. If you own a truck that is used for interstate commerce, you will need to have liability coverage in amounts that comply with federal regulations. If your vehicle is used to transport people, you will have different coverage levels as well.
Your local independent insurance agent can be very helpful with finding you a policy that is in full compliance with the law.
All commercial vehicle insurance policies in Orlando will provide, at the very least, liability coverage that meets or exceeds the legal requirements and personal injury protection. There are also a number of optional coverage types that you may want to consider adding to your commercial auto insurance policy. These include:
A local independent insurance agent can help you determine which coverage types are right for your Orlando business.
Because it can cover everything from small cars to large buses, there is no such thing as a one-size-fits-all commercial vehicle insurance policy. Obviously, a business that relies on one or two cars for making local deliveries will have vastly different needs than one that transports hazardous materials using big-rig trucks.
A local independent agent can help you find a competitively priced policy that meets all state and federal coverage requirements. Contact an insurance agent in or near Orlando to start comparing a selection of customized commercial vehicle insurance quotes.