From the cars used to deliver pizzas to students at Florida State University to semi trucks making their way out of town on Interstate 10, commercial vehicles are abundant on the streets of Tallahassee. If you are a local business owner who has company vehicles, you will want to be sure you have the right commercial vehicle insurance policy.
An independent insurance agent can help you find competitively priced coverage that is compliant with all state and federal laws. Find an insurance agent in or near Tallahassee to learn more about your options when it comes to commercial vehicle insurance.
Commercial motor vehicles (CMVs) are any vehicles that are owned and used by a business. This can include delivery cars, cargo vans, buses, trucks of varying size including 18-wheelers, and construction vehicles like dump trucks. The state of Florida tracks accidents involving CMVs by county.
Leon County, FL Commercial Vehicle Crash Statistics
When a commercial vehicle is involved in a collision, the business that owns it can experience large financial losses if not covered by the sufficient amounts of the right insurance. This can be because of expensive liability lawsuits, excessive property damage, or loss of income due to the company not having access to a necessary vehicle.
Commercial vehicle insurance is designed to cover your business against these risks so that your company’s finances are well protected.
Commercial vehicles insurance costs can vary significantly from one business to the next. Insurance companies assess risk and calculate rates according to a variety of factors. Your price for coverage can be influenced by such things as:
Because each insurance company has its own method for determining costs, it pays to compare rates before purchasing a policy. That way you can be sure you are getting the coverage you want at a competitive price.
Commercial vehicles that are only driven only within the state must have insurance that meets or exceeds Florida’s state-mandated minimum coverage requirements. CMVs that are used for interstate commerce, on the other hand, must have policies that are also compliant with federal regulations.
Florida is a no-fault state. Because of this, all commercial auto insurance policies are required to include at least $10,000 in personal injury protection (“PIP”) insurance. PIP can cover 80% of your drivers’ medical bills and 60% of their lost wages if they are injured in a collision. It can also provide family members with a one-time $5,000 death benefit in the event of a fatality.
All commercial vehicle policies must also include liability insurance, which 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 for commercial vehicles are assigned according to the vehicle’s type, size, weight, and/or purpose.
FL minimum liability insurance requirements for commercial trucks
If your business owns vehicles that are used to transport people or hazardous materials, you will have higher liability coverage requirements. A local independent insurance agent can help you be certain that your commercial vehicle insurance coverage is in compliance with all applicable laws.
All commercial vehicle insurance policies in Tallahassee will include personal injury protection and liability coverage that meets or exceeds the state’s requirements. In addition to this mandatory coverage, insurance companies also offer several other types of coverage that may be included as standard in their policies or offered as optional coverage.
Your local independent insurance agent can help you determine which coverage types may be beneficial to your Tallahassee business.
Shopping for the right commercial vehicle insurance coverage does not have to be difficult or time-consuming. A local independent insurance agent can answer your insurance insurance-related questions, offer trustworthy advice, and obtain customized quotes from multiple insurance companies.
Contact an insurance agent near you to begin your search for the best commercial vehicle insurance policy for your Tallahassee business.