Locally-owned businesses are thriving in Wisconsin. However, there are financial risks associated with running a business, and these risks increase significantly when company vehicles are part of the equation. Motor vehicle accidents involving company cars or trucks sometimes happen, and when they do, resultant liability expenses have the potential to bankrupt a company that is not property insured. A comprehensive commercial vehicle insurance policy can protect your business from the financial impact an accident can have.
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Wisconsin Crash Statistics
- There were a total of 112,516 motor vehicle accidents in the state in one year.
- Of these, 515 were fatal, 28,965 resulted in injuries and 83,036 had property damage only.
- The economic impact of these accidents totaled more than $2.7 billion.
Many different kinds of businesses use commercial vehicles. These can range from cars, such as those used for pizza deliveries, to 18-wheeler trucks, such as those used for interstate commerce. Different types of vehicles have different insurance mandates. Vehicles used to transport people, such as buses or vans, have higher liability coverage requirements, as a single accident can lead to multiple injuries.
Wisconsin Motor Vehicle Crash Locations:
- Total number of accidents in Wisconsin: 112,516
- Number of accidents on local roads or streets: 49,673
- Number of accidents on state highways: 41,665
- Number of accidents on county highways: 12,417
- Number of accidents on the interstate system: 8,761
As evidenced by the numbers above, accidents can happen anywhere. Wisconsin’s winters can be brutal, with heavy snowfalls and icy roadways. In the spring and summer, heavy downpours can lead to hazardous roadways and limited visibility. Other factors that can lead to accidents include driver distraction and vehicle or equipment failure.
You can do your part to minimize risks by hiring drivers with great driving records, and providing them with training and education. You can keep all company vehicles well-maintained, and limit the number of hours your drivers are on the road each day. Some accidents, however, are unavoidable, so it is best to ensure that you are also fully protected by a comprehensive Wisconsin commercial vehicle insurance policy, to prevent financial loss.
The Economic Impact of Wisconsin’s Motor Vehicle Accidents in One Year
- Accidents resulted in an estimated $2.723 billion in damages.
- Accidents involving fatalities cost $841 million.
- Accidents involving injuries cost $1.118 billion.
- Accidents involving property damage cost $764 million.
What Does Wisconsin Commercial Vehicle Insurance Cover?
All commercial vehicle insurance policies will provide liability protection, to cover injuries or property damage to others, in the event of an accident. Some of the many other coverage options include:
- Personal injury: to cover costs if your driver is injured in an accident, regardless of fault
- Collision: to cover damages to your company’s vehicle following an accident, regardless of fault
- Uninsured/Underinsured driver: will provide coverage for injuries or property damage if your driver is involved in an accident with someone who lacks proper insurance coverage, or with a hit-and-run motorist
- Non-owned auto: provides coverage if your employees are involved in a motor vehicle accident while using their own vehicles to do company business
- Loading and unloading: provides compensation if goods are damaged while loading to or unloading from a company vehicle
- Towing and labor: provides roadside assistance if your company vehicles should become disabled on the road
There may be other coverage types that would be best for your vehicles and your line of work. A local agent can help you find the right options for your commercial auto policy.
How Can You Find the Best Wisconsin Commercial Vehicle Policy?
Each of the companies headquartered in Wisconsin is unique, and so too are their commercial insurance needs. There is therefore no such thing as a one-size-fits-all policy when it comes to commercial auto or commercial truck insurance. When you purchase a policy, you will want to be sure that you are getting all the coverage that you need, while not paying for coverage that you do not need.
A local Trusted Choice® agent can make this process easy for you. An independent agent can review your company’s needs and find you a variety of policies that can meet those needs. Contact an agent in your neighborhood today to obtain more information, and to receive customized Wisconsin commercial vehicle insurance quotes.