Wyoming Commercial Vehicle Insurance
Get a full analysis of Wyoming commercial vehicle insurance costs, coverages & companies.
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Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Find the Best Commercial Vehicle Insurance Rates & Companies in Wyoming
Wyoming is full of business opportunities and passionate entrepreneurs. If you own a business in Wyoming, chances are it relies on company vehicles for its daily operations. As a business owner, you need commercial auto insurance to cover your business vehicles against potential causes of loss, including accidents, lawsuits, theft, and more.
Fortunately, an independent insurance agent in Wyoming can get you equipped with all the commercial auto insurance you need. Your business can get matched to the coverage it requires, fast. First, though, here's a closer look at Wyoming commercial vehicle insurance, what it covers, and more.
Best Commercial Vehicle Insurance Companies in Wyoming
When you're looking for the best commercial auto insurance companies in Wyoming, it can be helpful to start with some recommendations. That's why we've included some of our picks for the best commercial auto insurance in Wyoming. Look into these outstanding carriers for your business's commercial auto coverage needs.
- Progressive: Progressive offers commercial auto insurance and many other business and personal insurance products. The carrier also has outstanding financial strength and offers 24/7/365 customer service.
- Travelers: Travelers offers commercial auto insurance along with tons of other business and personal insurance products. The carrier also has excellent AM Best and Better Business Bureau (BBB) ratings, a large volume of positive customer feedback, and numerous discounts.
- Nationwide: Nationwide offers commercial auto insurance and many other business and personal insurance products. The carrier also has great ratings from AM Best and the BBB and allows 24/7 claims reporting.
An independent insurance agent in Wyoming can help you shop for coverage from only the best carriers in your area. They'll help ensure that your business meets Wyoming commercial vehicle regulations in terms of insurance.
What Commercial Vehicle Insurance in Wyoming Can Cover
You'll likely find several types of coverage in your business's commercial auto policy. Common options you have to choose from to build a commercial vehicle insurance plan in Wyoming include:
- Liability insurance: This covers the costs of property damage or bodily injury your business causes a third party with a company vehicle.
- Collision insurance: This covers the costs of damage to your business vehicles from a collision with another driver, regardless of fault.
- Comprehensive insurance: This covers the costs of damage to your business vehicles due to a non-collision event such as a flood or theft.
- Medical payments insurance: This covers medical treatments if company drivers or their passengers get injured in an accident while operating company vehicles for business purposes.
- Uninsured/underinsured motorists insurance: This covers the costs of accidents with other drivers who don't carry enough car insurance to cover their portion of expenses.
Wyoming commercial vehicle registration isn't complete until a business secures the right amount of commercial auto insurance. An independent insurance agent in Wyoming can help your business achieve this.
How Much Commercial Vehicle Insurance Is Required in Wyoming?
It's critical to ensure your business meets your state's requirements for commercial vehicle coverage. In Wyoming, state law dictates that businesses with company vehicles must at least be equipped with the following:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required for businesses with company vehicles in Wyoming.
- Property damage liability insurance: Coverage of at least $20,000 per incident of property damage liability coverage is required for businesses with company vehicles in Wyoming.
It's helpful to be aware of Wyoming commercial vehicle enforcement and what it means for your business. If your company fails to secure the mandatory amount of coverage, it could be subjected to state fines or other penalties.
What Commercial Vehicle Insurance in Wyoming Will Not Cover
Your Wyoming commercial auto policy has its own set of coverage exclusions. Look for the following possible coverage exclusions in your business's commercial vehicle insurance plan:
- Damage, destruction, or theft of business property like equipment and inventory that's covered under commercial property insurance
- Employee injuries that are covered under workers' compensation
- Malicious or intentional harm to third parties or their property caused by company drivers
- Accidents caused by company drivers who were intoxicated
- Pollutant damage or destruction to company vehicles
Your Wyoming independent insurance agent can help you pinpoint your exact coverage exclusions as outlined in your specific policy. They also help you secure any other types of business insurance your business still needs.
Average Cost of Commercial Vehicle Insurance in Wyoming
In Wyoming, the average cost of commercial vehicle insurance hovers around the $150 per month mark. However, the size and location of your business, along with other factors, can impact these costs. The following factors might affect your business's commercial auto insurance premiums:
- How often insured company vehicles are operated and where
- The types and amounts of coverage your business needs
- Your business's prior claims history
- The driving records of company vehicle operators
- The number of company vehicles in need of coverage
An independent insurance agent in Wyoming can help your business get equipped with affordable coverage.
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Popular Questions about Wyoming Commercial Vehicle Insurance
Commercial auto insurance in Wyoming might be required for your business if it uses company vehicles. If these vehicles are used for business tasks, commercial auto insurance is necessary.
For businesses that rely on company vehicles for work purposes, commercial auto insurance is required by law in Wyoming. If your business makes deliveries, runs a mobile operation, or otherwise carries out company tasks through its vehicles, it needs a commercial auto policy.
In Wyoming, commercial auto insurance plans cover at least bodily injury liability and property damage liability. However, your business can add more types of protection to its policy, such as collision or comprehensive coverage.
In Wyoming, the following types and amounts of commercial auto insurance coverage are mandatory by state law:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required.
- Property damage liability insurance: Coverage of at least $20,000 per incident of property damage liability coverage is required.
Your business may deduct the cost of its commercial vehicle insurance. In Wyoming, commercial auto insurance premiums are considered a business expense that can be deducted from the total annual revenue when taxes are filed.
Commercial auto insurance in Wyoming covers whatever is outlined in your business's policy. Your policy must, by state law, at least include liability protection in two forms: bodily injury and property damage.
In Wyoming, you can expect to find commercial auto insurance for an average of just under $150 per month. However, this cost can vary based on your business's annual revenue, number of company vehicles, and many other factors.
Wyoming independent insurance agents can shop and compare policies from multiple commercial vehicle insurance carriers for you. Ultimately, they'll get your business set up with a policy offering the best overall blend of coverage and cost. Additionally, your agent can help your business file commercial auto insurance claims and update its coverage as necessary.
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