Rockford Commercial Vehicle Insurance

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Illinois Commercial Vehicle Insurance

Rockford, IL, is a big city with 147,051 residents, and many of them utilize the roadways. Illinois had 115 commercial truck-related fatalities last year alone. When you operate a business in Rockford, IL, you may need commercial vehicle insurance. 

An independent insurance agent can help with a commercial auto policy that won't impact your bottom line. Since coverage is state-mandated, you'll need to make sure it complies with local and federal law. Connect with an expert to get customized quotes.  

Why Do Rockford, IL Businesses Need Commercial Vehicle Insurance?

Rockford, IL, requires all drivers to carry commercial auto insurance. The Illinois Department of Transportation has statistics on accidents and driver 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 you operate heavy trucks and tractor-trailer trucks that cross state lines, below are your two responsibilities:

  1. Your commercial vehicle policy will have to meet 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 Rockford, IL?

Rockford, IL, requires all commercial vehicle operators to carry the minimum limits of liability insurance. It will depend on the types of commercial autos you own and how they are used. Check out the state's 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

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What Else Does Rockford, IL Commercial Vehicle Insurance Cover?

Your Rockford, IL, commercial auto policy will automatically include liability coverage. When you need insurance for more, you'll have to add it manually. Take a look at the optional coverage choices below:

  • Collision insuranceThis will replace or repair your commercial auto that is damaged due to an accident.
  • 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.
  • Towing and roadside assistanceThis 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.
  • 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 insuranceThis covers the cost to repair or replace your commercial vehicle if it is lost or damaged due to a non-collision accident.

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

Your commercial vehicle insurance rates will be based on a variety of risk exposures. The commercial auto insurance industry is a $46.6 billion market. There are many items that carriers look for when calculating your 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

Insurers will take into account the above items and more. They look at your insurance score and even outside factors. From weather to local crime, your premiums will be figured based on numerous things.

Why Work with an Independent Agent in Rockford, IL?

Commercial auto insurance in Rockford, IL, can be obtained in a variety of ways. To get the best coverage and rates in town, try a professional that has options. An independent insurance agent can help.

They have access to several markets, saving you time and premium dollars. Since they work on your behalf at no cost, you'll save big. Connect with a local expert on TrustedChoice to get started on quotes.

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