Commercial Auto Insurance in Derby, VT

Commercial auto insurance is a crucial financial safeguard for Vermont businesses that rely on vehicles. Vermont companies using vehicles must maintain minimum amounts of auto liability insurance or obtain a bond that meets the state’s minimum requirements. Federal liability insurance regulations may apply if company-owned vehicles exceed a certain weight threshold or transport hazardous materials.

The minimum required amount of auto liability insurance may not provide enough financial protection against liability for third-party injuries and property damage. Your agent can help determine how much liability insurance is appropriate for your company.

Full Coverage Auto Insurance for Company-owned Vehicles

Your agent may also suggest full coverage insurance for vehicles that your company couldn’t easily afford to repair or replace after an incident or accident. Comprehensive and collision insurance may help cover accident-related damage, minus the policy’s deductible.

Uninsured/underinsured motorist coverage can help protect your company’s financial stability by helping provide coverage if the vehicle is in a hit-and-run accident or the at-fault driver is uninsured or doesn’t have enough coverage to pay for the damage they cause.

Factors Affecting Commercial Auto Insurance Rates

Several factors influence the cost of commercial auto insurance in Vermont:

• Number of vehicles—More vehicles typically mean higher premiums.
• Vehicle type and value—Expensive or specialized vehicles may cost more to insure.
• Level of risk—Businesses with higher risk activities, like delivery services, may face higher rates.
• Company’s claims history—A history of claims can increase your premiums.
• Employee driving records—Drivers with moving violations and at-fault accidents can trigger higher auto insurance premiums.
• Policy deductible and limits—Higher deductibles can lower your premium, but you’ll pay more out-of-pocket in case of a claim.

Contact Us

Contact Taylor-Moore Agency in Derby, VT, for a commercial auto insurance quote.