Naperville Commercial Vehicle Insurance

Your Complete Guide to Naperville, IL Commercial Vehicle Insurance

How to connect with an independent insurance agent

Illinois Commercial Vehicle Insurance

The commercial auto industry is a $46.6 billion market. With 147,682 residents in Naperville, IL, you'll need adequate protection. When you operate a business here, you may be required to carry commercial vehicle insurance.

Fortunately, an independent insurance agent can help find a policy that fits local and federal guidelines. When you need coverage that's affordable and sufficient, consider an adviser. Connect with an expert to get customized quotes for your business.

Why Do Naperville, IL Businesses Need Commercial Vehicle Insurance?

If you want to utilize the streets for business purposes, you'll need to comply with local and federal laws. The Illinois Department of Transportation has proactive information to keep the roadways safer. 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 you use company vehicles to cross 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 Naperville, IL?

Every state and city has its own regulations for commercial auto coverage. Naperville, IL, has minimum limits of liability that are required per 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

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

Commercial auto insurance premiums in Naperville, IL, can vary. It will depend on several items and some you'll be able to improve for better 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

Personal data and outside exposures play a part in your costs as well. With $12,764,999 in commercial auto premiums earned last year, there are many things to consider. Carriers look at insurance scores, loss histories, and local crime when calculating your pricing. 

What Else Does Naperville, IL Commercial Vehicle Insurance Cover?

When you're trying to decide what coverages you need on your commercial auto policy, there are several options. Your standard Naperville auto insurance will come with liability coverage, and that's pretty much it. For everything else, you'll need to add it. 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.
  • 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.
  • 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.

Why Work with an Independent Agent in Naperville, IL?

Naperville, IL, business insurance can be tricky to obtain if you're not a licensed professional. When coverage and price matter, an independent insurance agent can help. They have access to several commercial auto carriers.

Since an independent agent works on your behalf at no cost, you'll save big. If you're tired of going at it alone, consider an adviser. Connect with a local expert on TrustedChoice and get quotes today. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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