Hattiesburg Commercial Auto Insurance

Your Complete Guide to Hattiesburg, MS Commercial Auto Insurance

Find the right commercial vehicle insurance policy for you.

Hattiesburg has a diverse economy, strong neighborhoods, and a convenient central Mississippi location. It is a thriving economic center for the state, with a variety of commercial vehicles on the road at any time of day. If you are a local business owner who operates even one commercial vehicle, you need commercial auto insurance to protect your business assets when accidents happen. An independent insurance agent in or near Hattiesburg can help you find competitively priced coverage that is compliant with all state and federal laws and affordable for your business. 

Why Is Commercial Auto Insurance So Important? 

If your business owns vehicles and employs drivers, one traffic accident can cause serious problems. Your business will be held financially accountable for any damage caused by one of your vehicles, and you will have to pay to repair other cars as well as your own vehicle. You’ll also have to pay medical expenses for anyone who is injured. 

It’s also likely that you’ll be sued for additional damages. Lawsuits are costly, and without appropriate insurance coverage, your assets could be devastated. Any business that owns vehicles needs commercial auto insurance to protect itself from the large financial losses that can result after a crash. And accidents are all-to-common on busy Mississippi roadways. 

Commercial Motor Vehicle (CMV)-Related Fatalities recently in the US: 

  • There were 37,461 fatalities on America’s roadways in 34,439 motor vehicle crashes.
  • There were 4,564 fatalities in 4,079 accidents involving large trucks or buses.
  • Large truck occupants made up 16% of all large truck and bus fatalities.
  • While CMVs accounted for only 4% of the registered vehicles on the roads, they accounted for 9% of motor vehicle crash deaths

Mississippi CMV Crash Statistics:

  • Two-thirds of all Mississippi CMV crashes occur on a rural road, while one-third occur on the Interstate.
  • One-third of all Mississippi fatal crashes involving CMVs occur at night.

How Much Does Commercial Auto Insurance Cost in Hattiesburg, MS?

Commercial vehicle insurance costs can vary significantly from one business to the next. A company with a fleet of trucks will pay more than a small business with a few cars used for sales calls or deliveries. Insurance companies assess risk and calculate rates according to a variety of factors that are unique to your business. The insurance company looks at what the vehicle is used for, the size and weight of the vehicle, the number of miles the vehicle is expected to travel each year, and even the items that are being transported. 

The amount of coverage you need also affects what you pay for commercial auto insurance in Hattiesburg. Keep in mind that you may not need the same coverage for every vehicle. Because each insurance company has its own method for determining costs, it pays to compare rates before purchasing a policy. That way you can be sure you are getting the coverage you want at a competitive price.

How Much Commercial Vehicle Insurance Does My Business Need?

All Mississippi drivers need to have a minimum amount of auto liability insurance in order to comply with state law. 

  • Minimum liability insurance limits: 25/50/25; coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual; and $25,000 coverage for property damage

Trucks over 10,000 pounds must comply with additional state and federal regulations, including additional liability insurance requirements. The amount of liability insurance required for trucks depends on several factors, including:

  • The truck’s weight
  • Whether the truck is involved in interstate commerce 
  • Whether the truck is transporting people, household goods, hazardous materials, etc.

What Does Commercial Auto Insurance Cover?

All commercial vehicle insurance policies in Hattiesburg will include state-mandated coverage. In addition, insurance companies offer several other types of coverage that may be included as standard in their policies or offered as optional coverage. 

  • Collision coverage: Covers damage to your vehicle sustained in a collision, regardless of who was at fault. 
  • Comprehensive coverage: Covers the cost to repair damage to your vehicle due to non-collision events such as fires and property crimes. 
  • Uninsured motorist coverage: Covers your employee’s medical expenses and your vehicle’s damage following an accident caused by an uninsured or underinsured driver. 
  • Towing and roadside assistance: Covers the cost of a service call if your company vehicle becomes disabled while it is out on the road. 
  • Non-owned or hired auto liability insurance: Provides liability coverage for non-owned vehicles being used for business purposes, such as when you rent or lease a vehicle or when you or an employee use a personal vehicle for business purposes. 

Your local independent insurance agent can help you determine which coverage types may be beneficial for your unique needs. 

Why Work with an Independent Insurance Agent? 

Shopping for the right commercial vehicle insurance coverage does not have to be difficult or time-consuming. A local independent insurance agent can answer your insurance-related questions, offer trustworthy advice, and obtain customized quotes from multiple insurance companies.

Contact an agent near you to begin your search for the best commercial vehicle insurance policy for your Hattiesburg business.

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https://www.iihs.org/iihs/topics/t/large-trucks/fatalityfacts/large-trucks/2017

https://www.fmcsa.dot.gov/safety/data-and-statistics/2016-commercial-motor-vehicle-traffic-safety-facts-sheet

http://mdot.ms.gov/safetyeducation/parents/facts-and-stats/

http://www.mid.ms.gov/#&panel1-1