Vermont Commercial Vehicle Insurance
Get a complete analysis of Vermont commercial vehicle insurance costs, coverages & companies.
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Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Find the Best Commercial Vehicle Insurance Rates & Companies in Vermont
If you or your employees drive a vehicle for business purposes, the state of Vermont requires you to carry commercial auto insurance. You don't have to own a taxi fleet or trucking service to need commercial vehicle insurance, either. Even if you only use a car occasionally for business purposes, a personal car insurance policy may be insufficient to protect you from financial losses.
Luckily, a Vermont independent insurance agent can help your business get the right commercial auto coverage. They'll make sure your business gets all the protection it needs. First, though, here's a breakdown of Vermont commercial vehicle insurance requirements and more.
Best Commercial Vehicle Insurance Companies in Vermont
Your business deserves quality company vehicle coverage in the form of the best commercial auto insurance in Vermont. That's why we've listed some of the best commercial vehicle insurance companies in Vermont for your convenience. Look into these outstanding carriers when it's time to get coverage for your business.
- Nationwide: Nationwide offers commercial auto insurance and many other types of personal and business insurance. The carrier has excellent ratings from AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
- Travelers: Travelers offers commercial auto insurance and many other types of business and personal insurance. The carrier also has excellent AM Best and BBB ratings, extensive positive customer feedback, and many discount options.
- Liberty Mutual: Liberty Mutual offers commercial auto insurance and many other types of business and personal insurance. The carrier is also a Fortune 500 company with excellent ratings from AM Best and the BBB and provides 24/7 claims reporting.
An independent insurance agent can help you satisfy Vermont commercial vehicle regulations in terms of the right commercial auto insurance policy for your business. They can shop and compare quotes from these carriers and others in your area.
What Commercial Vehicle Insurance in Vermont Can Cover
Vermont has many coverage options to choose from when assembling your business's commercial auto insurance policy. You'll likely choose between these coverages to build your company's policy:
- Collision insurance: This covers the costs of damage to your business vehicles from a collision with another driver, regardless of fault.
- Liability insurance: This covers the costs of property damage or bodily injury your business causes a third party with a company vehicle.
- Comprehensive insurance: This covers the costs of damage to your business vehicles due to a non-collision event such as a flood or theft.
- Medical payments insurance: This covers medical treatments if company drivers or their passengers get injured in an accident while operating company vehicles for business purposes.
- Uninsured/underinsured motorists insurance: This covers the costs of accidents with other drivers who don't carry enough car insurance to cover their portion of expenses.
Keep in mind that Vermont commercial vehicle registration requirements aren't satisfied until your business has the right commercial auto insurance. A Vermont independent insurance agent can help your business achieve this.
How Much Commercial Vehicle Insurance Is Required in Vermont?
Like most other states, Vermont has a certain amount of commercial vehicle insurance required for qualifying businesses. In Vermont, the required amounts of commercial auto coverage are as follows:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required for businesses with company vehicles in Vermont.
- Property damage liability insurance: Coverage of at least $10,000 per incident of property damage liability coverage is required for businesses with company vehicles in Vermont.
- Uninsured motorist coverage: Coverage of at least $50,000 per person, $100,000 per accident, and $10,000 in uninsured motorist property damage insurance is required for businesses with company vehicles in Vermont.
Remember that Vermont commercial vehicle enforcement is strictly adhered to by the state. If your business fails to satisfy these coverage requirements, it could face penalties like fines, temporary business closures, etc.
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What Commercial Vehicle Insurance in Vermont Will Not Cover
Commercial auto insurance in Vermont won't cover theft, destruction, or damage to business equipment and inventory, which is instead covered by commercial property insurance. It also won't cover any employee workplace injuries and illnesses, which are instead covered by workers compensation. Commercial vehicle insurance in Vermont is also unlikely to cover any of the following:
- Damage or destruction to company vehicles caused by environmental pollutants
- Intentional or malicious acts against third parties or their property by company drivers
- Company vehicle accidents, etc., caused by drivers who were intoxicated
An independent insurance agent in Vermont can help your company complete its coverage requirements with any other types of business insurance necessary.
Average Cost of Commercial Vehicle Insurance in Vermont
The size of your business, its annual revenue, the number of company vehicles, and other factors can all impact the cost of its commercial vehicle insurance. Other factors, such as prior claims filed by your business, the driving records of any company drivers, and where and how company vehicles are operated, may also impact your business's premiums.
However, Vermont commercial auto insurance costs an average of just under $150 per month. A Vermont independent insurance agent can help you find the right commercial auto coverage for your business at the best possible rate.
Popular Questions about Vermont Commercial Vehicle Insurance
Your business might need commercial auto insurance in Vermont if it relies on company vehicles. If your business makes deliveries or uses a mobile operation, this coverage is likely required.
Vermont state law does mandate commercial auto insurance for businesses that use company vehicles. If your business does not rely on vehicles for any of its operations, it's unlikely to need this coverage.
In Vermont, commercial auto insurance plans come with at least bodily injury liability, property damage liability, and uninsured motorist coverage. However, your business may choose to add more types of protection, such as collision coverage.
Vermont requires at least the following types and amounts of commercial auto insurance coverage by law:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required.
- Property damage liability insurance: Coverage of at least $10,000 per incident of property damage liability coverage is required.
- Uninsured motorist coverage: Coverage of at least $50,000 per person, $100,000 per accident, and $10,000 in uninsured motorist property damage insurance is required.
Yes, commercial vehicle insurance premiums are tax-deductible in Vermont. The cost of commercial auto coverage is considered a legitimate business expense.
A Vermont commercial auto insurance policy covers whatever is outlined in the specific plan. While your business must have at least liability and uninsured motorist coverage by state law, it might also choose to add various other types of coverage, such as comprehensive.
In Vermont, commercial auto insurance costs an average of just under $150 per month. However, many factors, like how many company vehicles your business has, etc., can affect these rates.
Vermont independent insurance agents can shop and compare policies from multiple commercial vehicle insurance carriers for you. Ultimately, they'll get your business set up with a policy offering the best overall blend of coverage and cost. Additionally, your agent can help your business file commercial auto insurance claims and update its coverage as necessary.
https://www.insureon.com/small-business-insurance/commercial-auto/vermont