Elmhurst Commercial Vehicle Insurance

Your Complete Guide to Elmhurst, IL, Commercial Vehicle Insurance

How to connect with a local expert

Illinois Commercial Vehicle Insurance

Elmhurst, IL, has a population of 46,662 residents, making it a mid-sized town. The average commercial vehicle sales per year are at 10,486,622. When you own a local business, commercial vehicle insurance may be mandatory.

Fortunately, an independent insurance agent can help you find a policy that doesn't break the bank. Since commercial auto coverage is regulated, state guidelines will need to be followed. Connect with an Elmhurst adviser in minutes. 

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

In Elmhurst, IL, your commercial vehicle insurance costs will be dependent on numerous items. Things like loss history and insurance scores will be taken into account. 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

When you're trying to get the best rates in town, consider bundling. If you bundle your other business policies with the same carrier, you'll get a deep discount. Most insurers award a credit of 30% or more when combining lines of business. 

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

The average of commercial fleet vehicles involved in an accident per year is roughly 20%. Coverage in Elmhurst, IL, is mandated, and minimum limits of liability insurance are regulated. Check out Illinois's liability requirements 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 Elmhurst, IL, Commercial Vehicle Insurance Cover?

The commercial auto insurance industry is a 46.6 billion dollar market. If you're trying to obtain adequate protection, you'll need more than just liability insurance. The repair and replacement of your vehicles should be considered in Elmhurst, IL. 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.

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.

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.

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

In Elmhurst, IL, every business that uses commercial autos is required to carry insurance. The Illinois Department of Transportation has compiled local facts and data about accidents in the area. 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 use heavy and tractor-trailer trucks to haul 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 Elmhurst, IL?

Business insurance can be tricky to purchase when you're not sure where to begin. With state and federal regulations, your commercial auto policy needs to comply with Elmhurst, IL, guidelines. Instead of trying to obtain coverage on your own, consider a licensed professional. 

An independent insurance agent works on your behalf at no cost to your business. They have access to several carriers, saving you time and money. Connect with an expert on TrustedChoice.com to get the best savings. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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