In Sturgis, SD, there are 6,922 residents that make up this small town. If you own a company here, you might need commercial vehicle insurance. With the number of roadside fatalities, this is something your business can't afford to miss out on.
An independent insurance agent will be able to help find policies and premiums that fit your budget. Since they work on your behalf, you'll get the best coverage and save time. Connect with a local expert for custom quotes today.
Why Do Sturgis, SD Businesses Need Commercial Vehicle Insurance?
The state of South Dakota and the federal government have mandatory road requirements when you operate commercial vehicles. Apart from protecting your operation, it's also a requirement if you have business autos. According to their reports:
- South Dakota has 772,000 truck registrations annually.
- South Dakota has 0.0020% fatal truck accidents per capita per year.
- Nationally, there are 173 fatal injuries caused by heavy and tractor-trailer truck drivers each year.
- In SD, there are 16 large trucks involved in fatal crashes annually.
- The average number of commercial vehicles sold each year in the US 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 Sturgis, SD?
There are minimum limits of liability necessary when you own commercial autos in Sturgis, SD. Each state usually has set coverage you must obtain in order to utilize the roads. Check out South Dakota'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 Sturgis, SD?
Your business insurance costs will be different from anyone else's. The commercial auto insurance industry alone is a $46.6 billion market. Carriers look at several factors when setting your premiums, and determine them based on personal and outside data. 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
What Else Does Sturgis, SD Commercial Vehicle Insurance Cover?
Every commercial auto policy in Sturgis will come with the minimum limits of liability. If you're looking for additional protection, you'll have to add it most of the time. 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 Sturgis, SD?
If you have a small business in Sturgis, SD, there is a lot that you'll be responsible for handling. To get a good grasp on your day-to-day tasks, let a professional take care of your insurance. Commercial vehicle coverage is especially tricky since it's state-mandated.
Fortunately, an independent insurance agent will have access to multiple carriers so that you get the best coverage for a fair price. They work for you so that you can save time and money. Connect with a local expert on TrustedChoice for custom quotes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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