Orland Park Commercial Vehicle Insurance

Your Complete Guide to Orland Park, IL Commercial Vehicle Insurance

How to connect with a local independent agent in minutes

Illinois Commercial Vehicle Insurance

In Orland Park, IL, there are 58,765 locals, and many of them can access the streets. To better protect your business and your drivers, consider commercial vehicle insurance. With 115 commercial truck-involved fatalities annually, your coverage is essential to avoiding a lawsuit.

An independent insurance agent can help get quotes on commercial auto insurance with multiple carriers. Coverage in Illinois is mandatory and needs to meet state and sometimes federal laws. Connect with a trusted adviser in minutes. 

Why Do Orland Park, IL Businesses Need Commercial Vehicle Insurance?

Orland Park, IL, requires all commercial vehicle operators to carry insurance. The Illinois Department of Transportation has information and local statistics on auto accidents and safety. 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 business uses heavy tractor-trailer trucks to haul freight across state lines, you'll need to meet the below requirements:

  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 Orland Park, IL?

Many things go into your commercial auto insurance premiums. When carriers are figuring costs, they use both personal and outside data. 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

Your company's insurance score and loss history are taken into account as well. Local weather patterns and the crime rate are considered when setting your price. To find out your exact costs, get quotes from multiple insurers.

What Are the Commercial Vehicle Coverage Requirements in Orland Park, IL?

Each state has different requirements when it comes to commercial vehicle insurance. Orland Park has specific limits of liability that must be acquired to avoid penalties or worse. 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 Orland Park, IL Commercial Vehicle Insurance Cover?

The percentage of commercial fleet vehicles involved in an accident each year is 20%. The right coverage is more important than ever to avoid a lengthy lawsuit. Items will need to be added to your commercial auto policy if you want additional protection. 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.
  • 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.
  • 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.
  • Collision insurance: This will replace or repair your commercial auto that is damaged due to an accident.
  • Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto. 
  • Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.

Why Work with an Independent Agent in Orland Park, IL?

Commercial vehicle insurance can be confusing if you're not a licensed professional. When coverage is mandated by law, you'll want to ensure you're getting the right policy to meet the requirements. Fortunately, an independent insurance agent can help. 

They have access to several markets so that you have options on policy and premiums. If you work with an independent agent, you'll get the best of both worlds. Connect with a local Orland Park expert on TrustedChoice in minutes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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