From the Hunt Construction Group to the Cornerstone Bread Company, Indianapolis is home to many small privately-owned businesses. Kiplinger rates Indianapolis among the top10 best cities in which to start a business, mainly because of the low cost-of-living and affordable office space. If you own one of the more than 40,000 small businesses in this city and your company utilizes company vehicles in its day-to-day business operations, you will need to purchase Indianapolis, IN commercial vehicle insurance.
As a business owner, you may find it helpful to work with a member of the Trusted Choice® network for your business’s insurance needs. Independent agents work with several different insurance companies, so they can help you compare several quotes in one place before purchasing a commercial vehicle insurance policy that meets your coverage and budgetary needs. Contact a member agent today to receive a variety of competitively priced Indianapolis commercial vehicle insurance quotes.
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Indiana Motor Vehicle Crash Statistics
- There were almost 190,000 vehicular accidents that resulted in injury or property damage, a 2.5 decrease from the 2010
- Of those accidents, 674 resulted in fatalities
- Vehicular accidents occurred most frequently in urban and suburban areas
- Accidents that resulted in serious injuries occurred most commonly in Indiana’s exurban and rural areas
- Costs from car accidents in Indiana exceeded $4.3 billion
Commercial vehicles are as varied as the businesses that use them. They can range from smaller vehicles such as delivery cars to construction vehicles such as dump trucks to cargo trucks such as 18-wheelers. Indiana mandates different liability coverage requirements for these vehicles depending on their size, passenger capacity, cargo types and purpose.
IN Requirements for Commercial Vehicle Liability Coverage
- For-hire carriers carrying non-hazardous materials in a vehicle weighing less than 10,000 lbs. must have at least $300,000 in liability coverage
- For-hire carriers carrying non-hazardous materials in a vehicle weighing more than 10,000 lbs. must have at least $750,000 in liability coverage
- Private and for-hire carriers carrying hazardous materials must have between $1 and $5 million in liability coverage
- For-hire carriers carrying passengers in a vehicle with seating for 15 people or less must have at least $1.5 million in liability coverage
- For-hire carriers carrying passengers in a vehicle with seating for 16 people or more must have at least $5 million in liability coverage
- Minimum liability limits for commercial cars: 25/50/10
- Coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual, and $10,000 coverage for property damage.
Six Most Common Causes of Vehicular Accidents in Indiana
- Following too closely: 28,882
- Failure to yield right-of-way: 28,814
- Unsafe backing: 17,383
- Driver loss of control of vehicle: 16,231
- Driving too fast for weather conditions: 9,123
- Driver distraction: 6,373
Most of the motor vehicle accidents in Indianapolis are due to driver error. You can minimize your risks by hiring experienced drivers with good driving records, ensuring that your company’s vehicles are well-maintained, and by providing your drivers with safety-education materials and training. It is also a good idea to limit the number of hours your employees spend on the road each day, as driver fatigue can lead to lapses in judgment.
Taking these precautions can significantly lower the risk of damage to your company vehicles or injury to a driver of yours in an accident. However, even the best drivers can sometimes find themselves involved in a vehicular accident. Careless maneuvers by other drivers, dangerous roadways and inclement weather can all play a role in causing a collision that your drivers are unable to avoid.
An Indianapolis commercial vehicle insurance policy will ensure that your business can continue operations with minimal losses in the wake of an accident. Many policies will provide rental or replacement vehicles for immediate use while repairs are being made so that your business flow can remain uninterrupted.
Find Your Ideal Indianapolis Commercial Vehicle Policy
There is no such thing as a one-size-fits-all policy when it comes to commercial auto or commercial truck insurance policies. A company that relies on a fleet of cars for local deliveries will have vastly different needs than one that uses trucks for interstate commerce. When shopping for Indianapolis commercial vehicle insurance, be sure that you have all the coverage you need without purchasing unnecessary coverage.
Working with a local Trusted Choice independent agent can help. Independent agents are familiar with your Indiana’s coverage requirements and will ensure that you policy meets those mandates while providing all the coverage you need to protect your business from financial hardships. Contact an agent in your ZIP code today to receive a variety of obligation-free Indianapolis commercial vehicle insurance quotes.