From the trucks that deliver food to the local Publix Super Markets to the pizza delivery cars that are out in full force on Friday evenings, there are many commercial vehicles on the roads of St. Petersburg. If you are a business owner in this city, you will want to be sure that you cover your company-owned vehicles with the right insurance coverage.
An independent agent in St. Petersburg can help you find an affordable commercial vehicle insurance policy that is both affordable and compliant with state and federal laws. Find an insurance agent near you to learn more.
If your business owns any type of vehicle, it must be covered by commercial vehicle insurance. This insurance is designed to protect your company from large financial losses due to liability lawsuits, property damage, or loss of income due to not having access to a necessary vehicle when the company vehicle is being repaired.
Accidents involving commercial motor vehicles (CMVs) are not uncommon. The state of Florida tracks these collisions by county.
Pinellas County, FL commercial vehicle crash statistics
If one of your drivers causes an accident that results in significant injuries or a fatality, your business is likely to face a very expensive liability lawsuit. It is therefore important that you have a sufficient amount of liability coverage. Adding umbrella insurance to your business insurance coverage portfolio can give you even more liability protection.
The cost to cover business-owned vehicles can vary greatly from one company to the next. This is because rates are calculated according to a number of factors such as:
Because taking steps to increase driver safely can reduce the risk of accidents, many commercial vehicle insurance providers offer discounts to policyholders who provide their drivers with routine safety training and educational materials.
All commercial vehicle insurance policies in St. Petersburg must include, at the very least, personal injury protection (PIP) and liability insurance coverage.
Because Florida is a no-fault state, you are required to carry at least $10,000 in personal injury protection insurance. This coverage is designed to cover 80% of your driver’s medical bills and 60% of their lost wages if they are injured in a collision.
Liability coverage is designed to provide coverage for third-party property damage and bodily injuries if your driver is responsible for a vehicule collision. There are a number of different types of vehicles that can be covered under a commercial vehicle insurance policy, and liability coverage requirements can vary according to vehicle type and size.
For example, in the state of Florida, the amount of liability coverage you must have for commercial trucks is determined by the vehicle’s weight:
These minimum requirements apply to vehicles that are used within the state of Florida only. If you own a truck that is used for interstate commerce, your liability coverage must be high enough to comply with federal regulations. Your local independent insurance agent can be very helpful with finding you an affordable policy that is in full compliance with the law.
In addition to the personal injury protection and the liability coverage that are required by law, your commercial vehicle insurance policy can also include any of several other policy selections that can help you further protect your business finances. Some coverage options you may want to consider adding to your commercial auto insurance policy include:
A local independent insurance agent can help you determine which of these optional coverage types are right for your St. Petersburg business.
Commercial vehicle insurance can cover everything from small cars to large buses, so businesses have varying coverage requirements and needs. As a St. Petersburg business owner, it is to your advantage to seek the advice of a local independent insurance agent when you are shopping for appropriate coverage for your company cars.
Find an insurance agent in or near St. Petersburg to learn more, and you can soon be comparing a selection of customized commercial vehicle insurance quotes.