Bowling Green Commercial Auto Insurance

Your Complete Guide to Bowling Green, KY Commercial Vehicle Insurance

Find the right commercial vehicle insurance policy for you.

From 18-wheelers to pizza delivery cars, there are several commercial vehicles on the streets of Bowling Green at any given time. If you are among the many local business owners who use company-owned vehicles, you will want to be sure to protect your business finances by having a reliable and sufficient commercial vehicle insurance policy in place. An independent insurance agent can help you find an affordable policy that is compliant with all state and federal laws. Find an insurance agent in or near Bowling Green to start comparing customized commercial vehicle insurance quotes.

Why Do Bowling Green Businesses Need Commercial Auto Insurance?

Commercial motor vehicles (CMVs) include any type of vehicle that is owned and used by a business. This includes cars, cargo vans, passenger vans, buses, trucks of varying sizes including semis, and construction vehicles such as dump trucks and front loaders. 

Bowling Green, KY Crash Statistics

  • There is an average of 102,600 collisions in Kentucky every year.
  • Approximately 8,500 of these collisions involve trucks weighing 10,000 lbs or more.
  • The city of Bowling Green sees an average of 3,211 crashes per year.
  • This city has a crash rate of 55 crashes per 1,000 residents.

From major accidents on I-65 to fender benders on Nashville Road, when a commercial vehicle is involved in a collision, the business that owns it can experience large financial losses if it is not covered by sufficient amounts of the right insurance. Commercial vehicle insurance is designed to cover your business against losses caused by liability lawsuits, expensive vehicle repairs, and loss of income due to not having access to a necessary vehicle. That way, your company’s finances are well protected. 

How Much Does Commercial Auto Insurance Cost in Bowling Green, KY?

Commercial vehicle insurance costs can vary considerably from one company to the next. This is because insurance companies assess risk and calculate rates according to a number of different factors. Your price for coverage can be influenced by such considerations as:

  • The number of vehicles your business needs to insure
  • The types of vehicles you are insuring as well as each vehicle’s year, make, model and safety features
  • What you will be using the vehicles to transport (i.e., food, hazardous materials, people, etc.)
  • The estimated number of miles your vehicles will be driven each year
  • The driving records of any employees who may be operating the vehicles
  • The amount of coverage you are purchasing
  • The amount of your deductible

Because each insurance company has its own proprietary formula for calculating costs, you can save a lot of money by comparing a few quotes before making a selection. Independent insurance agents make comparison shopping easy.

What Are Commercial Vehicle Insurance Requirements in Bowling Green?

In Kentucky, insurance is required for commercial vehicles. You are required to have, at a minimum, liability coverage to pay for third-party injuries and property damage if one of your drivers is responsible for a collision. The minimum insurance requirements vary by vehicle type and use.

Minimum Coverage Requirements for KY Commercial Vehicles

  • Passenger carriers with a 1 to 7 passenger capacity: Bodily injury liability coverage of $100,000 per person, $300,000 per accident; property damage liability coverage of $50,000 per accident
  • Passenger carriers with a 8 or more passenger capacity: Bodily injury liability coverage of $100,000 per person, $600,000 per accident; property damage liability coverage of $50,000 per accident
  • Property carriers with gross vehicle weight of 18,000 lbs or less: Bodily injury liability coverage of $100,000 per person, $300,000 per accident; property damage liability coverage of $50,000 per accident
  • Property carriers with gross vehicle weight of more than 18,000 lbs: Bodily injury liability coverage of $100,000 per person, $600,000 per accident; property damage liability coverage of $50,000 per accident
  • Motor carriers of petroleum or petroleum products under 10,000 lbs: Bodily injury liability coverage of $100,000 per person, $300,000 per accident; property damage liability coverage of $50,000 per accident
  • Motor carriers of all other hazardous materials: $1 million in combined single-limit coverage

Talk to a local independent insurance agent for help finding a competitively priced policy that meets the state's minimum requirements.

What Does Commercial Auto Insurance Cover?

All commercial vehicle insurance in Bowling Green must include personal injury protection and liability coverage at levels that meet or exceed the state’s minimum requirements. Insurance companies also offer several other types of coverage that you may opt to purchase. These include:

  • Collision insurance: This is designed to cover the cost of repairs to your company vehicle if it has sustained damage in a collision, regardless of fault.
  • Comprehensive insurance: This is designed to cover the cost of repairs to your company vehicle if it has sustained damage in a non-collision event such as a tornado, flood, or property crime.
  • Uninsured motorist insurance: This is designed to cover your employee’s medical expenses and your company vehicle’s damage if an uninsured or hit-and-run driver is at fault for a collision.
  • Gap insurance: This is designed to bridge the coverage gap if your company vehicle is totaled and its assessed value is lower than the amount you still owe for it.
  • Towing and roadside assistance insurance: This is designed to cover the cost of a service call if your company vehicle becomes disabled while out on the road. Larger vehicles like trucks and buses require specialized towing.
  • Non-owner auto insurance: This is designed to provide your company with necessary liability coverage if an employee is doing a job for your company while driving a vehicle that your business does not own.  
  • Rental reimbursement insurance: This is designed to cover the cost of renting a comparable vehicle while repairs to your company vehicle are made. It enables your business to continue normal operations without experiencing a large financial loss.
  • Umbrella insurance: This supplementary coverage is designed to provide your company with liability coverage above and beyond what your commercial vehicle liability policy can offer.

Your local independent insurance agent can help you determine which of the many available coverage options may be beneficial to your Bowling Green business.

Why Work with an Independent Insurance Agent?

Finding an ideal commercial vehicle insurance policy does not have to be difficult or time-consuming. Independent insurance agents in Bowling Green are available to answer your insurance insurance-related questions, offer trustworthy advice, and provide you with a selection of customized quotes from reputable providers.

Contact an insurance agent near you to start your search for the best commercial vehicle insurance policy for your Bowling Green business.

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https://uknowledge.uky.edu/cgi/viewcontent.cgi?article=2595&context=ktc_researchreports
https://www.fmcsa.dot.gov/international-programs/canada/commercial-motor-vehicle-cmv-operations-kentucky