Commercial Auto Insurance. For Less.

"They’re always going above and beyond."


Jeff| Baltimore, MD

» baltimore md » Commercial Vehicle insurance

Call Us (443) 304-9927

We Make Commercial Auto Insurance Easier

There’s a reason our clients consistently send their friends to us to cover their trucks, they know we’ll get them the best deals and amazing service along with it.

Instant Access to a live agent

Better Coverage for less

Award Winning Service

commercial auto insurance

What You Need to Know about Commercial Vehicle Insurance

Business owners not only seek to maximize their profits from a commercial activity, but also to minimize risks and losses. Most businesses own at least one vehicle, if not an entire fleet, for day-to-day activities of the work. It could be something as simple as a company car for commuters, or pickup trucks for a grocery delivery service.

When vehicles are involved, there is a new element of risk introduced in business operations. To mitigate this risk for business owners, commercial vehicle insurance becomes an essential requirement.

Commercial Auto Insurance FAQ’s

<strong>01</strong>Why You Need Commercial Auto Insurance for Your Business

If a company vehicle is involved in any kind of an accident during business hours, or is stolen or vandalized, the owner cannot recover those losses using his personal insurance. This is because personal insurance does not cover any damages suffered while the vehicle is engaged in a commercial activity.

Secondly, a vehicle involved in an accident might lead to heavy collateral damage, such as injury to co-passengers, damage to public property, even lawsuits – all of which can be a very hefty expense for the owner to bear. Not only that, but some states might even have a minimum liability insurance requirement for commercial vehicles. If your business has a vehicle and you are using personal insurance to cover it, you might very well be breaking the law.

It is therefore advisable that business owners who use vehicles – be it for delivery, travel, transport of goods or any other purpose – should get their vehicles duly insured.

<strong>02</strong> What Does Commercial Vehicle Insurance Cover?
While policies vary according to the type of vehicle, activity and federal laws of that state regarding commercial insurance, some losses are covered by most insurance providers.

Liability

Liability refers to the expenses that are raked up when you or your employee causes an accident. These include medical expenses, loss to property and legal fees that the other involved party might incur.

Medical Expenses

Commercial vehicle insurance covers any medical expenses that you might incur for treating injuries sustained by you or your employee, as well as any co-passengers in the vehicle at the time of the accident.

Coverage – Collision and Comprehensive

Collision coverage covers your vehicle when an impact caused by another object or vehicle damages it. Comprehensive coverage includes the non-accidental risks to your vehicle such as theft, intentional damage or damage due to weather.

Uninsured/Underinsured Motorist

In the event that the accident you or your driver have met with was caused by a motorist with insufficient or no insurance coverage, the damages are paid for as part of your insurance policy.

<strong>03</strong> Types of Vehicles Covered by Commercial Vehicle Insurance
Almost all vehicles that are used for businesses of any kind are covered by commercial auto insurance. These include cars like sedans and SUVs, pickup trucks, dump trucks, tow trucks, snow plows, car haulers, food trucks and vans. Some insurance companies also cover vehicles used in very small businesses like motorcycles and bikes.
<strong>04</strong> Industries That Need Commercial Vehicle Insurance
As has been mentioned earlier, if your business owns even a single car, you are better off covering it using commercial auto insurance.

Typically, commercial auto insurance is a must-have for companies such as taxi-on-demand or ridesharing providers, any kind of delivery services (food/liquor/groceries/medicines), e-commerce firms that have a shipping department, snow plowing services, premium limousine fleets or chauffeur services, packers and movers, vehicles transporting hazardous or flammable material and freight transportation.

It is also important for independent contractors using their own car for work – such as Uber or Lyft drivers, or small business owners (for instance on-call beautician, stylists, event planners or housekeeping professionals) to cover their vehicle using commercial car insurance if it is not already provided by the firm with which you have a contract. It is especially such professionals who are vulnerable to heavy losses if they find themselves in an accident, and commercial vehicle insurance gives them some cushion against such eventualities.

<strong>05</strong> How Much Does Commercial Auto Insurance Cost?

Having understood the necessity of commercial auto insurance, it now becomes pertinent to ask how much a business might have to pay for it. This is a rather complicated question, however, because no two insurance packages are alike when it comes to commercial vehicles.

The total cover cost depends on a number of factors, and nearly every commercial vehicle insurance will be customized to suit your requirements. Some of the factors that decide the cost of commercial auto insurance are as follows.

  • Are you an independent contractor, a small business or a listed company? In other words, what is the size of your firm?
  • Description of the vehicle (or vehicles) that you intend to cover – their model, make, history, general accident record, resilience, predicted life and so on. This information allows insurers to estimate the kind of costs the vehicle might incur in operation and evaluate the compensation accordingly. Typically, heavy-duty vehicles cost less in insurance than, say, limousines which are not as sturdily built and would demand a higher cover.
  • Ownership of the vehicles.
  • Who will the vehicles be driven by? If there are multiple drivers, the insurance companies will ask for license information for each one of them and also get their driving records.
  • Any risks specific to the business i.e. fire hazards, weather damage and so on.
  • State regulations for minimum commercial vehicle accident coverage.

These are some of the factors which are taken into account while putting together an insurance policy for commercial vehicles. Looking for standard insurance quotes is often misleading as they do not factor in all the business-specific criteria. Such quotes can be highly inaccurate and you might end up paying a lot more than is feasible.

<strong>06</strong> Commercial Vehicle Insurance Discounts

Commercial auto insurance can be a significant cost to the company. The good news is that you can offset some of it by using discounts which are available to different establishments and situations.

If you opt for a business owner’s discount from your commercial vehicle insurance company, you might be eligible for a bundling discount on buying both vehicle and owner’s insurance together from the same company.

If you pay for your entire policy upfront instead of paying intermittent premiums, your insurers might offer you a “paid-in-full” discount. This is profitable for you as well as the insurance company, as it saves on the cost of following up and issuing you regular bills over a long period of time. You save on the main cost, as well as the additional opportunity cost of arranging to pay the premium regularly.

Some vehicles require the driver to have a commercial driver’s license (CDL) by law. Often, insurance companies might offer a CDL discount of up to 20% for drivers who hold a valid CDL license.

When you go for a commercial vehicle insurance policy, always ensure that you are properly informed about the regulations, provisions and discounts that you can avail as a business owner. Not only does it save you money in the short as well as the long term, but also offers you peace of mind that any losses you might incur in the business are compensated for.

Commercial Auto Vehicles We Cover

18 Wheelers

18 Wheelers

Big Rigs

Big Rigs

Box Trucks

Box Trucks

Car Hauler

Car Hauler

Dump Trucks

Dump Trucks

Truck Fleets

Truck Fleets

Hot Shot trucking

Hot Shot trucking

Log Trucks

Log Trucks

Semi Trucks

Semi Trucks

Snow Plows

Snow Plows

Tow Trucks

Tow Trucks

Tractor Trailers

Tractor Trailers

What Our Clients Say

"I was in need for car insurance and did some shopping around. Spoke to a couple different agents with other insurance companies and found the guys at East Insurance Group to be the most helpful, friendly, and most of all, knowledgeable. "

Mark | Baltimore, MD