Jackson is the capital of Mississippi and the largest urban center in the state. It is home to several major industries, including manufacturing, food service, and retail. Many businesses in Jackson use vehicles for day-to-day operations. Whether the vehicles are used for deliveries, transporting people, or performing construction work, you are required by law to have a certain amount of commercial auto insurance.
What’s more, commercial auto insurance is necessary to protect your financial well-being if one of your commercial vehicles is involved in a crash. An independent insurance agent in Jackson can help you find the best policy to meet your needs as well as all of the state requirements. Contact a local agent to compare quotes and make an informed choice.
Why Is Commercial Auto Insurance So Important?
Auto insurance companies assume that commercial vehicles face greater risks than most personal vehicles simply because they travel more miles and are therefore exposed to a greater number of risks. Liability lawsuits, property damage, and loss of income are not uncommon when a business car or truck is involved in an accident.
Any business that owns vehicles needs commercial auto insurance to protect itself from the financial losses that can result after accidents involving their business-owned vehicles. Commercial motor vehicles (CMVS) are frequently involved in accidents in Mississippi and across the US. Passenger vehicles involved in crashes with CMVs are highly vulnerable to damage, injuries, and fatalities.
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 crashes 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.
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How Much Does Commercial Auto Insurance Cost in Jackson, MS?
The cost to cover business-owned vehicles can vary significantly from one business to the next. Rates are calculated according to a number of different factors, including:
- The number of vehicles you are insuring
- The types of vehicles you are insuring
- Whether the vehicles will be used to transport people
- Whether the vehicles will be used to transport flammable or toxic materials
- The estimated number of miles the vehicles are driven each year
- Information about the employees who will be driving the vehicles
- The amount of coverage you are purchasing
You can minimize your risk of collisions by hiring experienced drivers with good driving records, and by ensuring that your company’s vehicles are well-maintained. It is also a good idea to limit the number of hours your employees spend on the road each day to prevent problems with driver fatigue. These efforts to promote safety and minimize accidents can help you control the costs of your commercial auto insurance.
How Much Commercial Auto Insurance Does My Business Need?
Commercial auto insurance coverage is determined by either state or federal law, depending on the type of vehicle, the vehicle’s weight, the number of passengers, what the vehicle carries (e.g., innocuous goods or hazardous materials), and whether it is engaged in interstate commerce. Passenger carriers, freight carriers, trucks over 10,000 pounds, and vehicles that carry hazardous substances must follow federal regulations for liability insurance coverage. Tow trucks, taxicabs, and certain other vehicles must also comply with additional insurance requirements. But most small business owners with sedans, vans, or light trucks must simply comply with auto insurance requirements that are the same as for personal vehicles.
- 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
What Does Commercial Auto Insurance Cover?
All commercial vehicle insurance policies in Jackson provide at least the minimum liability coverage required by the state of Mississippi. Other coverage options you can consider include:
- Collision insurance: Covers the cost to repair your own vehicle after a collision.
- Comprehensive insurance: Covers the cost to repair or replace your vehicle if it is lost or damaged due to non-collision hazards such as falling objects, floods, fire, or theft.
- Uninsured motorist coverage: Provides coverage for damage and medical expenses if your employee is involved in an accident caused by an uninsured driver.
- Towing and roadside assistance: Covers the cost of assistance if your company vehicle becomes disabled while 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.
An independent insurance agent can answer questions about your options and offer quotes from multiple insurance companies, so you can get all of the coverage you need at an affordable price.
Why Work with an Independent Insurance Agent?
There is no such thing as a one-size-fits-all policy when it comes to commercial auto insurance. A business that relies on a few cars for making local deliveries will have vastly different needs than one that uses heavy trucks for interstate commerce. A local independent insurance agent can help you find a competitively priced policy that meets your state’s coverage requirements.
Contact an insurance agent in or near Jackson to begin your search for customized commercial auto insurance.
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