Commercial Auto Insurance in Illinois
Why Your Business Needs Commercial Auto Insurance
If your business relies on vehicles to get things done, then commercial auto insurance is a must. This policy helps protect you in case of an accident while on the job. Your personal auto insurance typically doesn’t extend to company vehicles, so commercial auto insurance can help protect you and your business from the unexpected.
If you have commercial auto insurance for your business, you’ll be protected from the financial burdens that come from accidents, like vehicle repairs and medical bills.
Remember, a covered claim will be subject to your policy’s deductibles and limits. Additionally, coverage availability and requirements vary by state.
Common Commercial Auto Insurance Coverages
Liability Coverage
There are two liability insurance components in a commercial auto policy: bodily injury liability and property damage liability coverage. Every state, including Illinois, requires auto liability coverage.
Collision Coverage
Collision coverage helps pay to repair your company vehicle or may help pay to replace it if it's a total loss, after a covered accident. This protection applies whether you hit another vehicle, an object like a tree or guardrail, or if your vehicle rolls over.
Comprehensive Coverage
Comprehensive coverage helps pay for your business vehicle repairs if it's damaged in a non-collision-related event, like theft, fire, vandalism or hail. For example, if a storm rolls through and hail damages your company car, comprehensive coverage may help pay for repairs.
Uninsured / Underinsured Motorist Coverage
If one of your employees is in an accident and an uninsured or underinsured driver is at fault, this coverage helps pay for your employee's medical bills.
Rental Car Coverage
If your company vehicle needs to spend some time in the shop after an accident, rental car coverage helps keep your business running with a rental vehicle.
Understanding Commercial Auto Insurance Coverage Limitations
Commercial auto insurance doesn’t cover everything, and many businesses face significant financial risks without proper protection. Standard policies typically exclude medical expenses unrelated to accidents, personal vehicle use for business purposes, vehicle contents, and rental car repairs, while businesses without coverage risk having no liability protection, repair coverage, or legal expense assistance.
What's Not Covered
Not everything is covered by a standard commercial auto insurance policy. While coverages vary based on where you live, the following expenses and scenarios are typically excluded or require additional coverage options be added to your policy:
- Medical expenses that are unrelated to an accident when an employee is driving a company vehicle.
- The contents inside your business vehicle.
- Accidents that happen when an employee drives a personal vehicle for business reasons.
- Repairs to a rental vehicle you’re driving while waiting for your company car to be fixed after an accident.
Do You Need Commercial Auto Insurance?
It depends on the business you’re in. Here are a few of the professions that may benefit from commercial auto insurance:
- Artisan / specialty contractors
- Carpenters
- Plumbers
- Electricians
- Landscapers
- Realtors
- Doctors and Dentists
- Lawyers
- Florists
- Taxi’s, Limo’s & Ride Sharing
What Is the Risk if I Don't Have Commercial Auto Insurance for My Business?
If you don’t have commercial auto insurance for your business, you may be vulnerable to financial risk when accidents happen. That’s because typically, a personal auto policy doesn’t cover your business vehicles. Here are a few of the risks you and your business may face without commercial auto insurance:
- No liability coverage
- No coverage for any vehicle repairs
- No coverage for legal expenses
- No comprehensive coverage for unrelated damages such as theft, vandalism or hail
What Type of Vehicles Are Covered by Commercial Auto Insurance?
Not all company vehicles are the same. Here are some of the most common types of business vehicles covered by commercial auto insurance:
- Cars
- SUVs
- Vans
- Pickup trucks
- Boxtrucks
- Service utility trucks
How Much Does Commercial Auto Insurance Cost?
There are a few factors that determine the amount of your commercial auto insurance policy.
These include the coverages you choose, your coverage limits (the maximum amount of money insurance will pay for a covered claim) and your deductible (the amount you pay out-of-pocket for a covered claim).
Ready to See Your Savings?
Fill out our quick, no-obligation quote form and discover how affordable peace of mind can be.
GET A FREE INSURANCE QUOTE
Commercial Auto Insurance in Illinois
Why Your Business Needs Commercial Auto Insurance
If your business relies on vehicles to get things done, then commercial auto insurance is a must. This policy helps protect you in case of an accident while on the job. Your personal auto insurance typically doesn’t extend to company vehicles, so commercial auto insurance can help protect you and your business from the unexpected.
If you have commercial auto insurance for your business, you’ll be protected from the financial burdens that come from accidents, like vehicle repairs and medical bills.
Remember, a covered claim will be subject to your policy’s deductibles and limits. Additionally, coverage availability and requirements vary by state.
Common Commercial Auto Insurance Coverages
Liability Coverage
There are two liability insurance components in a commercial auto policy: bodily injury liability and property damage liability coverage. Every state, including Illinois, requires auto liability coverage.
Collision Coverage
Collision coverage helps pay to repair your company vehicle or may help pay to replace it if it's a total loss, after a covered accident. This protection applies whether you hit another vehicle, an object like a tree or guardrail, or if your vehicle rolls over.
Comprehensive Coverage
Comprehensive coverage helps pay for your business vehicle repairs if it's damaged in a non-collision-related event, like theft, fire, vandalism or hail. For example, if a storm rolls through and hail damages your company car, comprehensive coverage may help pay for repairs.
Uninsured / Underinsured Motorist Coverage
If one of your employees is in an accident and an uninsured or underinsured driver is at fault, this coverage helps pay for your employee's medical bills.
Rental Car Coverage
If your company vehicle needs to spend some time in the shop after an accident, rental car coverage helps keep your business running with a rental vehicle.
Understanding Commercial Auto Insurance Coverage Limitations
Commercial auto insurance doesn’t cover everything, and many businesses face significant financial risks without proper protection. Standard policies typically exclude medical expenses unrelated to accidents, personal vehicle use for business purposes, vehicle contents, and rental car repairs, while businesses without coverage risk having no liability protection, repair coverage, or legal expense assistance.
What's Not Covered
Not everything is covered by a standard commercial auto insurance policy. While coverages vary based on where you live, the following expenses and scenarios are typically excluded or require additional coverage options be added to your policy:
- Medical expenses that are unrelated to an accident when an employee is driving a company vehicle.
- The contents inside your business vehicle.
- Accidents that happen when an employee drives a personal vehicle for business reasons.
- Repairs to a rental vehicle you’re driving while waiting for your company car to be fixed after an accident.
Do You Need Commercial Auto Insurance?
It depends on the business you’re in. Here are a few of the professions that may benefit from commercial auto insurance:
- Artisan / specialty contractors
- Carpenters
- Plumbers
- Electricians
- Landscapers
- Realtors
- Doctors and Dentists
- Lawyers
- Florists
- Taxi’s, Limo’s & Ride Sharing
What Is the Risk if I Don't Have Commercial Auto Insurance for My Business?
If you don’t have commercial auto insurance for your business, you may be vulnerable to financial risk when accidents happen. That’s because typically, a personal auto policy doesn’t cover your business vehicles. Here are a few of the risks you and your business may face without commercial auto insurance:
- No liability coverage
- No coverage for any vehicle repairs
- No coverage for legal expenses
- No comprehensive coverage for unrelated damages such as theft, vandalism or hail
What Type of Vehicles Are Covered by Commercial Auto Insurance?
Not all company vehicles are the same. Here are some of the most common types of business vehicles covered by commercial auto insurance:
- Cars
- SUVs
- Vans
- Pickup trucks
- Boxtrucks
- Service utility trucks
How Much Does Commercial Auto Insurance Cost?
There are a few factors that determine the amount of your commercial auto insurance policy.
These include the coverages you choose, your coverage limits (the maximum amount of money insurance will pay for a covered claim) and your deductible (the amount you pay out-of-pocket for a covered claim).
Ready to See Your Savings?
Fill out our quick, no-obligation quote form and discover how affordable peace of mind can be.
