DeKalb Commercial Vehicle Insurance

Your Complete Guide to DeKalb, IL Commercial Vehicle Insurance

When you need a local agent

Illinois Commercial Vehicle Insurance

DeKalb has 43,193 locals, and many of them access the streets on any given day. Illinois itself accounts for 115 fatal accidents caused by commercial trucks each year. When you operate a business in DeKalb, commercial vehicle insurance may be necessary.

An independent insurance agent can help find a policy that complies with state law. Since they work with numerous carriers, you'll have options. Connect with an expert to get tailored quotes.

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

The net commercial auto insurance premiums earned last year were at $12,764,999. Insurers will use various exposures to figure 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 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

In addition to the above items, carriers look at outside and personal data. Your insurance score, loss history, and financial stability are used as well. Things like local weather patterns and even the crime rate are accounted for when calculating your commercial auto premiums.

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

Each state has regulations to follow when you use commercial autos. The average percentage of commercial fleet vehicles involved in an accident each year is at 20%. In order to meet state guidelines, liability limits are required per vehicle type. Check out the Illinois liability requirements 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 DeKalb, IL Commercial Vehicle Insurance Cover?

In DeKalb, IL, liability insurance is mandatory when your business operates commercial vehicles. If you need coverage for the autos themselves, it has to be added in addition to your liability coverage. 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.
  • 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.
  • 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 Do DeKalb, IL Businesses Need Commercial Vehicle Insurance?

DeKalb, IL, requires all business owners with commercial autos to carry insurance coverage. The Illinois Department of Transportation has statistics on accidents and roadside fatalities to inform residents. 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 company hauls 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.

Why Work with an Independent Agent in DeKalb, IL?

If you're looking for commercial auto insurance in DeKalb, IL, a licensed professional can help. In Illinois, coverage is mandatory and needs to meet state and federal guidelines. To avoid large penalties or worse, adequate protection is necessary.

Fortunately, an independent insurance agent has access to several carriers, giving you choices on coverage and premiums. Since they work on your behalf, you'll get the best of both worlds. Connect with a local agent on TrustedChoice to start saving.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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