Mt. Vernon Commercial Vehicle Insurance

Your Complete Guide to Mt. Vernon, IL Commercial Vehicle Insurance

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Illinois Commercial Vehicle Insurance

Mt. Vernon has 14,956 residents, making it a smaller town. Illinois has 5,694,000 commercial truck registries per year. When your business in Mt. Vernon uses autos, you'll be required to carry commercial vehicle insurance.

An independent insurance agent can help find a policy that fits state and federal guidelines. Since they work with local carriers, you'll get the best options in town. Connect with a trusted adviser to get started.

Why Do Mt. Vernon, IL Businesses Need Commercial Vehicle Insurance?

Mt. Vernon requires commercial vehicle insurance to use the roadways. The Illinois Department of Transportation has local information to keep residents up to date on roadside accidents. 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 your company uses vehicles 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.

What Are the Commercial Vehicle Coverage Requirements in Mt. Vernon, IL?

Each state has its own requirements when it comes to commercial auto insurance. Mt. Vernon, IL, requires minimum limits of liability according to vehicle 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 Mt. Vernon, IL Commercial Vehicle Insurance Cover?

There's an average of 20,145 fatal light truck accidents per year in this state. It's critical to have adequate coverage so you can avoid a lawsuit or worse. Your standard commercial auto policy in Mt. Vernon will come with liability only. Everything else will need to be added. Take a look at the optional coverage choices below:

  • 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.
  • 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.

How Much Does Commercial Vehicle Insurance Cost in Mt. Vernon, IL?

The net commercial auto insurance premiums earned last year in the US were $12,764,999. The portion that is your responsibility will depend on a variety of items. 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

The above factors, along with personal and outside data, will affect your rates. Things such as local weather, your insurance score, and more will impact your costs. To get an accurate quote, contact an adviser. 

Why Work with an Independent Agent in Mt. Vernon, IL?

Your commercial auto insurance can be confusing if you're not a licensed professional. When you're dealing with state-mandated coverage, it must have the limits required. Fortunately, an independent insurance agent can help.

They have access to several markets so that you get options on policy and price. An independent agent works on your behalf at no cost. Get connected with a local adviser on TrustedChoice to begin. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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