Cicero Commercial Vehicle Insurance

Your Complete Guide to Cicero, IL, Commercial Vehicle Insurance

If you need a local expert in your corner

Illinois Commercial Vehicle Insurance

Cicero, IL, is a larger town with over 82,552 locals who roam the streets. There are roughly 115 Illinois fatalities caused by heavy trucks per year. When you own and operate a Cicero business, specific commercial vehicle insurance regulations apply.

An independent insurance agent can help you find a policy that fits your budget. Since state coverage is mandatory, you'll need insurance that complies with guidelines. Consult with a local expert to get tailored quotes. 

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

In Cicero, commercial vehicle insurance is not only required but necessary for protection. The Illinois Department of Transportation has statistics and information to keep the community informed. 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 uses heavy and tractor-trailer trucks to haul loads across 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.

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

The commercial insurance industry is a 46.6 billion dollar market. When you're shopping for rates, keep in mind the exposures carriers look at when calculating costs. 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 

Numerous items will affect your premiums. Some you'll have control over like insurance scores, loss histories, and financial stability. While others, like local crime rate, weather, and industry patterns, you won't. For exact pricing, consult with a professional. 

What Are the Commercial Vehicle Coverage Requirements in Cicero, IL?

Minimum limits of liability insurance in Cicero, IL, is needed for every commercial vehicle policy. Some vehicles are rated differently and may need more coverage than others. 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 Cicero, IL, Commercial Vehicle Insurance Cover?

Your Cicero, IL, commercial auto policy is important and could save you from financial ruin. With over 20% of commercial fleet vehicles having an accident each year, protection is needed. The right policy should cover your liability and property. Take a look at the optional coverage choices below.

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.

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

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

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. 

Why Work with an Independent Agent in Cicero, IL?

Commercial insurance is essential when you need to protect your livelihood. Many risk exposures could jeopardize your business. To have adequate commercial auto insurance that meets state and federal laws, get an expert. 

An independent insurance agent can access several markets, giving you options on policy and premiums. When you're tired of DIY insurance, an independent agent does the shopping at zero cost. Connect with a local adviser on TrustedChoice.com in minutes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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