There are thousands of small businesses based in Michigan. While they may offer the opportunity for wealth and income, these businesses often have inherent financial risks. These risks increase significantly when company-owned vehicles are part of the equation. A Michigan commercial vehicle insurance policy can prevent a serious accident from impacting your company financials.
An independent agent in the Trusted Choice network to help you get the right commercial vehicle insurance policy for your company's needs. These agents can ensure that you are purchasing enough coverage and that you are getting it at a reasonable rate. Find a member agent near your home or business today to get more information and to start comparing competitively-priced Michigan commercial auto insurance quotes.
Commercial auto insurance is a specialized form of insurance that covers company-owned cars, vans, trucks and other vehicles, such as limousines. Unlike personal auto insurance, these policies often carry higher insurance coverage amounts. Even if you are a small business owner, you will most likely need commercial vehicle coverage if you use your personal vehicle for work-related purposes.
If your company’s employees use their own vehicles for work, as is often the case with pizza delivery drivers, you will want to cover their vehicles with a hired or non-owned commercial auto insurance policy while they are on the clock. Even though these vehicles are privately owned and insured, if they are in an accident while performing work-duties, your business may be held liable in a lawsuit.
For company-owned cars and trucks, it's essential that you purchase a Michigan commercial vehicle insurance policy.
Motor vehicle accidents can be extremely expensive. Make certain that your commercial vehicles have enough insurance coverage to prevent your company from suffering extreme financial losses. If your company has a lot of assets, it has a lot to lose in a lawsuit.
Commercial vehicles can range from cars to 18-wheel trucks to construction vehicles like dump trucks. The state of Michigan mandates different insurance requirements for different types of vehicles. For example, those used to transport passengers or hazardous materials will often have higher liability requirements. In addition, semi-trucks that are used for interstate travel will need to meet both Michigan and the Federal Motor Carrier Safety Administration (FMCSA) mandated requirements for insurance coverage.
An agent in the Trusted Choice network can provide you with more information about the coverage requirements specific to your vehicle or fleet of vehicles and can ensure that you are compliance with all of Michigan’s requirements for commercial vehicle insurance coverage.
A commercial vehicle policy will have a variety of coverage options. These include:
Commercial vehicle insurance policies can vary greatly from one company to the next. Policy rates are affected by many different factors including:
You can often get reduced rates by taking advantage of discounts that are offered by many insurance companies. For example, you may be able to get a discount for combining commercial vehicle insurance with your business insurance policy. Some companies will also offer discounts on commercial truck insurance policies if your drivers all have commercial licenses (CDLs). Be sure to ask about discounts when comparing insurance rates.
All Michigan companies are unique, and so too are their commercial vehicle insurance needs. There is therefore no such thing as a one-size-fits-all policy when it comes to commercial auto or commercial truck insurance. When you purchase a policy, you will want to be sure that you are getting all the coverage you need.
An independent agent in the Trusted Choice network agent can make comparison shopping easy for you. Your local member agent can assess your company’s needs and help you compare policies that meet those needs. Find an agent in your neighborhood today to learn more about Michigan commercial auto insurance.