Commercial Auto Insurance

Commercial Auto Insurance Minnesota

What is commercial auto insurance?

Commercial auto insurance is a business insurance policy that covers cars, trucks, or vans owned by or used in the business. It helps protect against bodily injury and property damage (liability) claims and can also provide physical damage coverage for the vehicles.

Auto accidents happen, and you need commercial vehicle insurance and an agent on your side. Anyone can call a 1-800 number.

Our agency is NOT a service center; we are experienced agents who will help coach and guide you through the process if you have questions.

Insurance companies want to save money; we want happy, satisfied customers, but there is a difference.

When you call our office at 952-222-8073, a real person answers. Let us compare your commercial car insurance quotes from multiple companies. Start by clicking the ‘Get My Quote’ button, completing the short form, and let us handle the shopping for you.

What are the minimum limits of coverage here in Minnesota?

$30,000 per person – bodily injury liability
$60,000 per occurrence – bodily injury liability
$10,000 in property damage coverage
$40,000 personal injury protection (no-fault/$20,000 medical & $20,000 non-medical)
$25,000 per person – uninsured/underinsured motorist bodily injury liability
$50,000 per occurrence – uninsured/underinsured motorist bodily injury liability

These minimums would be foolish to carry today, considering medical and vehicle costs. We recommend starting with commercial auto insurance limits of no less than:

$100,000 per person – bodily injury liability
$300,000 per occurrence – bodily injury liability
$100,000 in property damage coverage
$40,000 personal injury protection (no-fault/$20,000 medical & $20,000 non-medical)
$100,000 per person – uninsured/underinsured motorist bodily injury liability
$300,000 per occurrence – uninsured/underinsured motorist bodily injury liability

Most often, commercial vehicle insurance uses a combined single limit, which is the sum of bodily injury and property damage limits combined into one number.

These days, the most common limits for business auto insurance are $300,000, $500,000, and $1,000,000. Although purchasing commercial auto insurance this way is slightly more expensive, it provides better coverage as it is less restrictive.

The combined single limit also applies to the coverage of uninsured and underinsured motorists.

Do the vehicles need to be in the company name?

Yes, they should be. We have seen claims denied if the company has no interest in the auto, truck, or van. It’s essential that the titling be correct.  A title will often list a lienholder or loan company, and the secured interest can cause issues when transferring the title. Many companies will allow a leaseback as the solution.

A leaseback creates dual ownership. Often, the leaseback would be for a personally titled vehicle to the business. Having a signed document on file and exchanging money (a dollar) is necessary. Our agency asks for a copy of this document.

Finding commercial auto insurance quotes in Minnesota

We make it easy to find cheap commercial auto insurance in Minnesota. We shop around with numerous companies for the best coverage and price.

Commercial vehicle insurance is often written with the same company as general liability insurance and workers’ compensation insurance. This makes it convenient; however, it does not always yield the lowest cost.

Let us give you a Progressive commercial auto insurance or nationwide commercial auto insurance quote. Those are just a couple of the 50 companies we represent, and we have many more options; obtaining a Geico commercial auto insurance policy is not necessary.

Your business has unique needs, and no single company fits all. That’s why we quote multiple carriers; this provides the best results. It’s easy to present a quote to you when we know it’s exactly what you need.

Now it’s time to contact us. Let our professionals answer your questions; the answers are always free.

Please provide your information once, and we will shop for you. Six agents won’t call you; you will work directly with one experienced agent.

Do yourself a favor and request your quote online or call 952-222-8073 now. You will be happy you did.

Frequently asked questions about commercial auto insurance (FAQ)

Q- Which vehicles are covered under commercial auto insurance?

Ans:- Businesses that own motor vehicles must purchase a commercial vehicle insurance policy. Commercial vehicle insurance can cover many different types such as cars, semi-trucks, box trucks, pickup trucks, vans, step vans, passenger vans, cargo vans, sprinters, Also, bread trucks, bakery trucks, tow trucks, flatbed trucks, wreckers, car carriers, refuse collection trucks, garbage trucks, septic trucks buses, motor coaches, minibusses, shuttle buses, and more—some heavy equipment vehicles like construction, farming, and mining.

Q- What is hired and non-owned auto coverage on a commercial auto policy?

Ans:- Hired auto coverage means that you or your employees have coverage if driving a leased, rented, or borrowed vehicle for business. Non-owned auto insurance applies to employees who use their personal vehicle for business purposes, providing extra coverage over the employee’s personal auto insurance for bodily injury and property damage liability.

Q- Does any auto (symbol 1) include hired and non-owned?

Ans: Yes, it includes coverage for both hired and non-owned autos. Small businesses are often required to carry insurance that covers all owned, hired, and non-owned vehicles. Any auto liability, symbol 1, covers all owned autos. Hired and non-owned auto insurance is often referred to as non-owned vehicle liability or hired auto liability insurance.