Decatur Commercial Vehicle Insurance

When you're looking for the best agent in town

Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Illinois Commercial Vehicle Insurance

The net commercial auto insurance premiums earned last year were $12,764,999. With Illinois having 5,694,000 commercial truck registries, you'll want proper protection. If you're a business owner in Decatur, IL, commercial vehicle insurance is necessary.

An independent insurance agent can help with quotes on affordable coverage. Since commercial auto insurance is mandatory, your policy will have to comply with state law. Connect with a local adviser to get started.

Why Do Decatur, IL Businesses Need Commercial Vehicle Insurance?

In Decatur, IL, you're required to carry commercial auto insurance. The number of heavy and tractor-trailer trucks involved in fatal accidents each year is at 173. The Illinois Department of Transportation has statistics to keep locals 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.

If you're running loads across state lines, there are different requirements you'll need to meet:

  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 Decatur, IL?

The commercial auto insurance industry is a $46.6 billion market. Carriers use personal data and outside exposures like weather to calculate your premiums. Check out the risk factors that companies use to determine your commercial vehicle insurance pricing below:

  • Year, make, and model of all vehicles
  • The radius in which you travel
  • The number of drivers and their driving 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

Since numerous items can affect your commercial auto rates, you'll need to work on what you can improve. Things like insurance scores, loss histories, and more can be adjusted for better pricing. The only way to know your company's exact costs for commercial auto insurance is to obtain quotes. 

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

Most cities and states require you to carry minimum limits of liability on your auto insurance policies. In Decatur, IL, there are different limits amount per vehicle and passenger type. Check out the Illinois liability guidelines below:

Illinois 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 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 Decatur, IL Commercial Vehicle Insurance Cover?

Liability insurance is automatically included in your Decatur commercial auto policy. When you need coverage for vehicles and more, it will have to be manually added. Take a look at the optional coverage choices below:

  • 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. 
  • 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.
  • 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.

Why Work with an Independent Agent in Decatur, IL?

Commercial auto insurance in Decatur, IL, can be found with the help of a trusted adviser. Since coverage is state-mandated, you'll want a policy that meets local and federal laws. If you're not sure how to get started, consider working with a professional. 

An independent insurance agent has access to several carriers, giving you options on coverage and price. They work on your behalf at zero cost. Connect with an expert on TrustedChoice for personalized quotes.

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