Aurora Commercial Vehicle Insurance

Your Complete Guide to Aurora, IL, Commercial Vehicle Insurance

When you're looking for an independent agent

Illinois Commercial Vehicle Insurance

Aurora, IL, is a big town with over 200,965 locals calling it home. Illinois, on its own, has over 5,694,000 commercial truck registries per year. When you own a business in Aurora, you'll need commercial vehicle insurance to protect your assets.

An independent insurance agent can help get a policy for a low premium. In most states, commercial auto insurance is mandatory and needs to meet local and federal guidelines. Connect with an expert to get started.

How Much Does Commercial Vehicle Insurance Cost in Aurora, IL?

The market size of the commercial auto insurance industry is 46.6 billion dollars. Your insurance premiums will be calculated on numerous exposures. Check out the risk factors that companies use to determine your pricing below.

  • Year, make, and model of all vehicles
  • The radius in which you travel
  • The number of drivers and their motor vehicle records
  • What the vehicles are used for
  • The coverage you choose
  • Where you store the vehicles
  • What safety measures you have in place
  • The time of day or night these vehicles are driven

Insurers will look at outside and personal data to figure your costs. Local weather patterns and criminal activity will play a role as well. If you're looking for exact pricing, obtain quotes through a professional.

Why Do Aurora, IL, Businesses Need Commercial Vehicle Insurance?

In Illinois, the Department of Transportation has local statistics and ways to prevent accidents. Aurora requires all business owners with commercial autos to obtain coverage. Take a look at the numbers below.

  • 32% of Illinois based car accidents are speed related
  • Roughly 772 car wrecks occur in Illinois each day
  • 84,172 people were injured in Illinois car accidents
  • 0.0009% of fatal accidents involve commercial trucks in Illinois

When your business crosses state lines, there are different requirements you'll need to meet below.

  1. Your commercial vehicle policy will have to comply with both state and federal laws.
  2. If you haul materials, they will need to be documented with the Department of Transportation (DOT) and your insurance carrier for rating purposes.
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What Are the Commercial Vehicle Coverage Requirements in Aurora, IL?

When you own and operate commercial vehicles in Aurora, IL, you'll need insurance. Minimum liability limits are required to comply with state and sometimes federal laws. Check out Illinois's liability guidelines below.

Illinois's minimum liability requirements for commercial vehicles

  • Bodily injury liability requirements: $25,000 per person / $50,000 per accident
  • Property damage liability requirements: $20,000 per accident
  • Uninsured motorist coverage requirements: $25,000 per person / $50,000 per accident

Illinois's minimum liability requirements per seating capacity

  • 10-13 people seating capacity: bodily injury liability $1,000,000 / property damage liability $100,000
  • 14-20 people seating capacity: bodily injury liability $1,500,000 / property damage liability $100,000
  • 21-30 people seating capacity: bodily injury liability $2,000,000 / property damage liability $100,000
  • 31+ people seating capacity: bodily injury liability $3,000,000 / property damage liability $100,000

Other for-hire passenger vehicles, including medical transport: Bodily injury $250,000 / Property damage $50,000 or $300,000 Combined Single Limit (CSL)

Property carriers: $750,000 CSL

Tow truck operations: $500,000 CSL

Hazardous substance carriers: $1,000,000 to $5,000,000 CSL depending on specifics

What Else Does Aurora, IL, Commercial Vehicle Insurance Cover?

When you're without proper protection for your commercial autos, you may have to pay out of pocket. Your primary policy will include liability insurance, and everything else will have to be added manually. Take a look at the optional coverage choices below.

Collision insurance: This will replace or repair your commercial auto that is damaged due to an accident.

Uninsured motorist insurance:  If your commercial auto is involved in an accident with an uninsured driver, this provides coverage for property damage and medical costs.

Comprehensive insurance: This covers the cost to repair or replace your commercial vehicle if it is lost or damaged due to a non-collision accident.

Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto. 

Non-owned or hired auto liability insurance: If an employee or contractor uses a non-company-owned vehicle while doing business on your behalf, this will cover your exposure.

Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.

Why Work with an Independent Agent in Aurora, IL?

Protection for your business is essential to growth and avoiding closure. When you have the right commercial vehicle policy, you won't have to worry about paying for a claim. Since coverage is mandatory in Aurora, IL, a knowledgeable adviser can help. 

An independent insurance agent has access to several markets, giving you options on policy and premium. When you're tired of searching for coverage alone, an independent agent does the work at no cost. Connect with a local expert on TrustedChoice.com and get quotes today.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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