If you’re leasing a company car or truck

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Check out our Motive review to learn how this platform shares driver data with insurers to help lower your rates. How much commercial auto coverage does my business need? Commercial car insurance laws vary by state. That’s why it’s crucial to consult your state’s requirements for how much commercial liability auto insurance is required; this information includes specific bodily injury and property coverage parameters. While your exact needs may vary, Nationwide recommends at least $500,000 in liability coverage per vehicle.


Your lending institution may require you to carry co lebanon mobile phone numbers database llision and comprehensive coverage; this is to pay for damages to your vehicle if you’re at fault in an accident or the victim of noncollision events (like weather events or vandalism). Unlike general liability insurance, collision and comprehensive coverage policies typically entail commercial car insurance deductibles. How much does commercial auto insurance cost? Commercial car insurance costs depend on several factors, including deductibles and out-of-pocket expenses.


Generally, all other factors being equal, the higher the deductible, the lower the premium. For example, insurer Progressive says its national average monthly cost for commercial truck insurance ranges from $736 for specialty truckers to $1,125 for transport truckers. Amistad Insurance Services estimates that its commercial car insurance ranges from $600 to $2,500 for each vehicle. Some factors that can affect your business auto insurance include the following: Type of driving and vehicle (e.g., truck transporting goods or cargo vs.