Pierre South Dakota Commercial Vehicle Insurance

Your Complete Guide to Pierre, SD Commercial Vehicle Insurance

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Pierre South Dakota Commercial Vehicle Insurance

Pierre, SD, has 13,867 residents, and many of them could utilize the road at any given time. South Dakota has 772,000 registered commercial trucks. If you own a business auto, you'll need commercial vehicle insurance.

Fortunately, an independent insurance agent can help with carrier and coverage selection. They do the shopping for you so that you can relax. Connect with a local expert to get started.

Why Do Pierre, SD Businesses Need Commercial Vehicle Insurance?

Both the South Dakota and federal governments regulate commercial vehicle mandates. Every state requires something a bit different, but you'll need this coverage if you own a business auto. According to their reports:

  • South Dakota has 0.0020% fatal truck accidents per capita per year.
  • Nationally, 173 fatal injuries are caused annually by heavy and tractor-trailer truck drivers.
  • There are 16 large trucks involved in fatal crashes annually in SD. 
  • In the us, the average number of commercial vehicles sold each year is 10,486,622.

If your operation causes your drivers to leave state lines with loads, you'll have these responsibilities:

  • Your commercial vehicle policy will need to meet South Dakota and federal laws.
  • Materials hauled will need to be accounted for by the Department of Transportation (DOT) and your insurance carrier.

What Are the Commercial Vehicle Coverage Requirements in Pierre, SD?

When you own a business in Pierre, SD, you are mandated by law to carry the minimum liability limits. If you don't obtain coverage, you could face severe fines or worse. Business owners in Pierre should be aware of South Dakota's minimum liability requirements for commercial vehicles. Check out the state's requirements below:

  • $25,000 property damage liability per accident
  • $50,000 bodily injury liability per accident
  • $25,000 bodily injury liability per person
  • $25,000 uninsured/underinsured motorist bodily injury liability per person
  • $50,000 uninsured/underinsured motorist bodily injury liability per occurrence
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How Much Does Commercial Vehicle Insurance Cost in Pierre, SD?

The commercial auto insurance industry is a $46.6 billion market. When you purchase a commercial auto policy, you are a part of that figure. Check out the risk factors that companies use to determine your pricing below:

  • Year, make, and model of all vehicles
  • The radius in which you travel
  • The number of drivers and their driving records
  • What the vehicles are used for
  • The coverage you choose
  • Where you store the vehicles
  • What safety measures you have in place
  • The time of day or night these vehicles are used

Carriers review several items before setting a rate. Your costs will be driven by personal data, history, and industry. The only way to get exact pricing is by obtaining quotes. 

What Else Does Pierre, SD Commercial Vehicle Insurance Cover?

In addition to your Pierre, SD, required limits of liability, you may want some other coverages. Every commercial auto policy will start with the minimum, and anything extra has to be added. Take a look at the optional coverage choices below:

  • Towing and roadside assistance: This will pay for a tow to pick up your disabled commercial auto. 
  • Rental car insurance: This covers the cost of renting a commercial vehicle while your company-owned auto is being repaired.
  • Uninsured motorist insurance:  If your commercial auto is involved in an accident with an uninsured driver, this provides coverage for property damage and medical costs. This is a required coverage in South Dakota.
  • Comprehensive insurance: This covers the cost to repair or replace your commercial vehicle if it is lost or damaged due to a non-collision accident.
  • Collision insurance: This will replace or repair your commercial auto that is damaged due to an accident.
  • Non-owned or hired auto liability insurance: If an employee or contractor uses a non-company-owned vehicle while doing business on your behalf, this will cover your exposure.

Why Work with an Independent Agent in Pierre, SD?

When you own and operate a business in Pierre, SD, there are several things you're responsible for knowing. Commercial vehicle insurance is one of them. Fortunately, a knowledgeable adviser can help. 

An independent insurance agent works for you at zero cost to your company. Since they have access to multiple carriers, you'll get the best deals in town. Connect with a local expert on TrustedChoice for details in minutes.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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