North Carolina is thriving, with a 16 percent population growth over the last ten years, and thousands of new businesses. That means thousands of cars, trucks, buses, vans, and trailers have been added to the traffic on highways and county roads. The vehicles you use for business require special insurance coverage to protect your business from liability risks. No matter what kinds of cars and trucks your employees drive in The Old North State, you will need to carry North Carolina commercial vehicle insurance to protect you from financial loss.
An independent insurance agent in our network can help you find the right NC commercial vehicle insurance for the cars and trucks your business owns or leases. These agents are not bound to one insurance provider, so they can provide quotes to compare from several insurance companies. Contact a local agent today, to start comparing North Carolina commercial auto insurance quotes tailored to your business.
Business Is Good in North Carolina
- Small businesses in NC account for half of the state's private employment, and 45% of the gross state product
- North Carolina's export value recently reached $24.5 billion
- North Carolina is one of the country's top exporters of chemicals, machinery, transportation equipment, and agricultural equipment
- NC's most active trade partners include Canada, Mexico, and China
North Carolina continues to thrive, in spite of a slow economy, thanks to the many jobs available in businesses with less than 500 employees. Industry growth has shifted toward technology and medical services, while production and exports continue to grow. Whether you move merchandise and equipment with a fleet of trucks, have a delivery van, or use a small company car to travel to meetings, North Carolina commercial vehicle insurance can protect your business from the financial expense of mishaps on the road. A local agent can discuss the vehicles you use for work, and help you find the right commercial auto insurance for your business.
What Does NC Commercial Vehicle Insurance Cover?
Commercial car and truck insurance works in much the same way as a personal auto insurance policy. It provides liability and property coverage to protect your financial assets from loss. However, a personal auto policy is not sufficient to cover the vehicles you use for business. In fact, you could face legal consequences if you or your employees drive a vehicle for business without proper commercial auto coverage. Commercial vehicle insurance covers the following:
- Liability: Businesses today are vulnerable to lawsuits. Commercial vehicle liability covers bodily injury and property damage claims after an accident and provides protection against litigation. It pays medical expenses and court-ordered damages, up to the limits of your policy.
- Collision: Collision coverage helps you get your vehicles back on the road after an accident, by paying the cost of repairs, minus your deductible. You can insure your vehicle for its actual cash value, or for replacement value so that if it is a total loss, you have funds to purchase a new vehicle of the same type.
- Comprehensive: Also known as "other than collision," this portion of your policy covers your commercial autos for damage from a disaster like a garage fire, tornado, hail, or falling tree limbs. It also covers loss due to vandalism and theft.
- Uninsured and underinsured motorist: This coverage kicks in if the person at fault in an auto accident has insufficient coverage to pay for injuries to you or your employee, and property damage to your vehicle.
Other coverage may be a wise investment, depending on the way you use your commercial autos. You may need rental coverage, if you frequently rent cars while out of town, or non-owned vehicle coverage, if your employees sometimes use their own vehicles for small deliveries. An independent agent can ensure that you have the right North Carolina commercial auto insurance to protect your business and finances.
Special Considerations for Trucks and Semis
In general, the bigger the truck, the higher your liability coverage needs to be. An accident involving a large vehicle has the potential to cause much more damage and harm than a small vehicle collision. Commercial truck insurance provides the extra liability coverage you need for your dump truck, car hauler, tow truck, or semi. Depending on your operations, you may need to purchase additional coverage such as cargo insurance.
Cargo insurance protects you from the cost of losing your valuable merchandise in transit, due to collision, theft, or other disasters. A local agent can help you look over your commercial truck usage, as well as the employees who drive them, so you can make an informed decision about the right level of North Carolina commercial vehicle insurance for your business.
The Cost of NC Commercial Auto Insurance
The cost of your North Carolina commercial vehicle insurance depends on many factors, including:
- The driving records of the employees who drive your vehicles
- What kinds of vehicles you use
- How far your employees drive, and how often
- Where the vehicles are stored or garaged
- The kinds of products you transport
The best way to find out how much coverage you need and how much it will cost is to speak with a local independent agent in your area who can provide personalized quotes based on your unique needs.
Get the Commercial Vehicle Insurance You Need
You can find North Carolina commercial vehicle insurance, plus business insurance, umbrella policies, and other coverage, by contacting a local agent. These agents work with several insurance providers and can give you customized feedback about your coverage needs. Additionally, a local member agent can handle all of your business insurance requirements, from general liability coverage to workers compensation.
Find an independent agent near you, and start comparing North Carolina commercial auto insurance quotes tailored to your business.